Overview
The Transfer Services API enables seamless money transfers between accounts within the same bank or to accounts in other banks.
How Does It Work?
Initiating a Transfer Request: To start a transfer, you need to specify the account you want to send money from, the account you want to send money to, and the amount you wish to transfer. You can also add a short note to explain the reason for the transfer.
Validate a Transfer Request: Once you’ve initiated a transfer request,the owner of the source account is required to provide the OTP sent to his/her phone number in order to validate the transaction.
Checking Transfer Status: After a transaction has been successfully validated, you can check to see if it’s been completed. The status will let you know if the transfer is still processing, if it’s been completed successfully, or if there was an issue.
Common Questions
How Much Can I Transfer? The amount you can transfer depends on your daily limit on your account and the customer kyc tier
How Long Does It Take? Transfers within the same bank are typically processed instantly, while interbank transfers usually take at least an hour.
Tips for Using the Service
- Keep Track of Your Transfers: Always note the transaction ID you receive after initiating a transfer. It helps in tracking and confirming your transaction.
- Double-Check Details: Before you confirm a transfer, make sure all the details, like account numbers and amounts, are correct to avoid errors.
- Understand Your Limits: Be aware of any daily limits on how much you can transfer.