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Learn how to use the Payout API to enable bank transfer withdrawals to your user's bank account.

Overview

You can send bank transfer payouts to connected users that have a verified bank account. In our system, your funds are paid out from your Business Account to your user’s StraitsX Personal Account, followed by a bank transfer via the FAST network to their bank account.

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A transfer to your user's StraitsX Personal Account is done first before withdrawing to your user's bank account as we cannot directly withdraw funds to a bank account that does not belong to you.

Before you begin

Ensure that you have the following prerequisites:
Your user's bank account has been verified either of the below methods:

Environment	Method
Sandbox	Mock Bank Account Verification
Production	Automated Verification / Manual Verification

Types of Bank Transfer Payouts

There are 3 types of bank transfer payouts, each with a different sender and recipient. All 3 payout types are requested using the Bank Transfer Payout API.

Payout Type	From	To
1. Bank Transfer Payout	Business Account	User's bank account
2. Outbound transfer (Business Account)	Business Account	Business bank account
3. Outbound transfer (Personal Account)	User's StraitsX Personal Account	User's bank account

1. Bank Transfer Payout

curl --location --request POST 'https://sandbox.xfers.io/api/v3/user/bank_account/2555/withdraw' \
--header 'X-XFERS-APP-API-KEY: t4wsjxpwtk6o9tz20j4baj4ifwibin100py1vrvfsqh' \
--form 'amount="10"' \
--form 'idempotency_id="hello_world"' \
--form 'user_api_token="TTMXHKWz8azyCIoswPNtrcNStc6P3rimI6nvXFRiqwY"'

curl --location --request POST 'https://sandbox.xfers.io/api/v3/user/bank_account/:bank_account_id/withdraw' \
--header 'X-XFERS-APP-API-KEY: {{APP_API_KEY}}' \
--form 'amount="{{amount}}"' \
--form 'idempotency_id="{{idempotency_id}}"' \
--form 'user_api_token="{{USER_API_KEY}}"'

2. Outbound transfer (Business Account)

curl --location --request POST 'https://sandbox.xfers.io/api/v3/user/bank_account/2555/withdraw' \
--header 'X-XFERS-USER-API-KEY: TTMXHKWz8azyCIoswPNtrcNStc6P3rimI6nvXFRiqwY' \
--form 'amount="10"' \
--form 'idempotency_id="hello_world_2"'

curl --location --request POST 'https://sandbox.xfers.io/api/v3/user/bank_account/:bank_account_id/withdraw' \
--header 'X-XFERS-USER-API-KEY: {{USER_API_KEY}}' \
--form 'amount="{{amount}}"' \
--form 'idempotency_id="{{idempotency_id}}"'

3. Outbound transfer (Personal Account)

curl --location --request POST 'https://sandbox.xfers.io/api/v3/user/bank_account/2532/withdraw' \
--header 'X-XFERS-APP-API-KEY: TTMXHKWz8azyCIoswPNtrcNStc6P3rimI6nvXFRiqwY' \
--form 'amount="10"' \
--form 'idempotency_id="hello_world_3"'

curl --location --request POST 'https://sandbox.xfers.io/api/v3/user/bank_account/:bank_account_id/withdraw' \
--header 'X-XFERS-APP-API-KEY: {{APP_API_KEY}}' \
--form 'amount="{{amount}}"' \
--form 'idempotency_id="{{idempotency_id}}"'