Initiate a transfer between a source party and destination party.
Transfers enable the movement of funds from a specified source to a designated destination. To initiate a transfer, you only need to specify the source and destination objects, enter the dollar amount and currency, and select the desired speed.
Source and destination
In the transfers API, the source object tells Deliver where to pull funds from and the destination object tells Deliver where to deliver funds.
Deliver only needs to know this information for external accounts - meaning those which are not within the Orum system. Therefore, for the payout use case, which pulls funds from your Orum ledger balance to deliver to an end-user's account, you only need to provide a destination.
Note: For Payouts, it is important not to populate source. If valid information is provided for both source and destination, the transfer request will be executed as a deposit or account-to-account transfer, and funds will be pulled from the source and pushed to the destination.
| Use Case | Source | Destination |
|---|---|---|
| Payout | ✖ | ✅ |
| Deposit | ✅ | ✅ |
| Account-to-account | ✅ | ✅ |
| Direct debit* | ✅ | ✖ |
| Pay by Bank* | ✅ | ✅ |
| Disbursements* | ✖ | ✅ |
| B2B Payments* | ✅ | ✅ |
Important Note
* You must be configured for these use cases or your transfer request will result in an error. Reach out to your Orum representative for more details if you plan to incorporate this use case into your product.