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Note

Currently, only transfers in USD currency are supported.

The Bond transfers API manages all fund transfers in and out of accounts.

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When performing a transfer, the direction of the flow of funds is dictated by the origination_account_id (from which funds are extracted), and the destination_account_id (to which funds are deposited).

Each transfer is represented by a unique transfer_id. You can view all transfers in and out of accounts by executing a request to the Transfers endpoint.

Transfers API versions

With the advent of secured charge card and deposit account constructs in v0.1, it is important to note that most transfers can be executed as usual in v0.1. However, there are some transfer operations that will still require the v0 transfers API to execute.

The table below illustrates the transfer operations that use the v0.1 transfers API vs those that use v0:

* For these v0 transfers, the origination_account_id must be the ID of the Credit Card Account. You can control the direction of funds movement between a Credit Card Account and Linked Account using the ach_direction body parameter. Learn more here.

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Rule of Thumb

A good heuristic for remembering the correct transfers API version to use:

If the transfer involves a Deposit Account or Security Deposit Account, use v0.1. Otherwise, use v0.

ACH Transfers

ACH is a method of transferring money electronically between banks without the need for paper checks, cards, or wire transfers. Common examples of ACH transfers include payroll systems which issue ACH credit transactions to pay employees by direct deposits, or utility providers which issue ACH debit transactions to request direct payments from the consumer's bank account.

The Bond platform handles the creation and transmission of the ACH file formatted with appropriate parameters to the ACH operator.

Prior to creating a transfer, we check the customer's originating account balance to ensure there are sufficient funds.