Bank Transfer Payments Guide

Connect API

πŸ“—

Learn how to use the Payment API to enable bank transfer deposits from your user.

Overview

Each connected user on your platform will be assigned a unique virtual account number for bank transfer payments. We check the sender's name against the user's name to ensure the payment is being made to the correct virtual account. This creates a secure and seamless experience for your users and makes it easy for your team to reconcile these transactions.

Learn more about virtual accounts β†’

696696

UI example of bank transfer instructions

curl --location --request GET 'https://sandbox.xfers.io/api/v3/user/transfer_info' \
--header 'X-XFERS-USER-API-KEY: TTMXHKWz8azyCIoswPNtrcNStc6P3rimI6nvXFRiqwY' \
--form 'merchant_ref="hello_world"'
curl --location --request GET 'https://www.xfers.io/api/v3/user/transfer_info' \
--header 'X-XFERS-USER-API-KEY: {{USER_API_KEY}}' \
--form 'merchant_ref="{{merchant_ref}}"'
  • To provide payee details for your user, initiate a request to display bank transfer instructions.
  • This enables your user to add a payee in their bank app using the fields: bank name, recipient name and bank account number.

Step 2 β€” Add callback URL

On a successful completion of a deposit transaction, StraitsX will send a callback notification to you via a callback URL indicated on the StraitsX Business Dashboard.

35103510

Adding a callback URL in sandbox mode

πŸ“˜

Add the callback URL on the dashboard to receive callbacks when the transaction has been completed.

curl --location --request POST 'https://sandbox.xfers.io/api/v3/sandbox/user/bank_transfer_simulations?destination_bank_account_no=0732386258984&destination_bank_short_code=CIMB&amount=1234&source_bank_account_holder_name
=John Ng' \
--header 'X-XFERS-USER-API-KEY: TTMXHKWz8azyCIoswPNtrcNStc6P3rimI6nvXFRiqwY'
  • In the sandbox environment, you can make a mock bank transfer by initiating a mock bank transfer payment.
  • Input a name under source_bank_account_holder_name to test if the sender name is matched correctly to your user's name.

Step 3b β€” Make a bank transfer (Production)

To make a bank transfer payment, your users will need to deposit funds via their personal bank.

Add payee details example
968968

Adding a payee to make a fund transfer (Last Updated: 13 Mar 2022)

πŸ“˜

For a full list of bank accounts supported by StraitsX, click here.

Step 4 β€” Confirm deposit has been received

Securing your callback

When the payment is received, we will send a callback to the URL indicated on the StraitsX Business Dashboard. The callback can be decoded using the HMAC-SHA256 algorithm to display the Request Body.

Learn more about how to secure your callback β†’

Request Body Parameters

Parameter Name

Description

Example Value

amount

Amount transferred

89.35

bank_account_no

FAST bank account number

0393123432

created_at

Time of creation

2022-03-09T11%3A56%3A17%2B08%3A00

fees

Fees incurred

0.49

id

Contract ID

contract_7mowjipsez3ryhs9auko03eajihpbeop

idempotency_id

Unique ref no to prevent double transaction

ETA2022030911561153700

merchant_ref

Unique ID indicated in Get bank transfer instructions API

ref_0d1w4m0xepp40

status

Status of the transaction: completed/pending/cancelled

completed

type

Type of transaction

Direct+bank+transfer

πŸ‘

You may use the merchant_ref parameter to match with the incoming bank transfers from your users to check if the amount received was correct.


Did this page help you?