7. Funding a card

This page describes how a customer can fund their card.

Your customer can transfer funds between cards and bank accounts using the methods listed in the table below. Currently, the only currency supported is the U.S. Dollar (USD).

Transfers can be:

  • Incoming—into the card from an external bank account, using an ACHACH - Automated Clearing House. The network that coordinates electronic payments and automated money transfers. payment.
  • Outgoing—out of the card to an external bank account, using an ACH payment.
  • Internal—from one card to another within the same program_id, using peer-to-peer payment.

Funding method

Process

Cost and speed

ACH

  1. Customer connects an external bank account and verifies the account with micro-deposits.
  2. Once verified, customer can initiate an ACH transfer.

Cheapest.
Can take a few days to verify and between 3 and 5 days for the ACH transaction to clear and have funds available.

Instant ACH

  1. Customer instantly verifies and connects a bank account.
  2. Once verified, customer can initiate an ACH transfer.

Cheap.
Verification is instant but it still takes between 3 and 5 days for the ACH transaction to clear and have funds available.

Wire

Customer initiates a wire from the sending institution to Bond Studio's card account.

Moderate pricing.
Domestically very quick.

Peer-to-peer

Move money instantly between cards within your brand's card program.

Practically free.
Instant.

Check

Deposit a check at a supported ATM in the network or by using check deposit on your mobile app.

Moderate pricing.
Takes a few days for the check to clear and have funds available.

Execute ACH and peer-to-peer transfers using the POST /transfers operation and provide parameters as shown in Loading funds.

Include the transfer amount in USD in the request body. The transfer amount is expressed as a decimal string with 2 two digits of precision. You must explicitly specify the cents value, even if the transaction amount is a "round" figure. For example, set amount to 10.00 if you want to transfer $10.

An example of the POST request payload for a peer-to-peer transfer between cards is shown below.

{
  "destination_account_id": "d9ff6235-ca06-425c-ae5e-70ad7cf6887a",
  "source_account_id": "0f7ef979-6e78-4890-9983-ceb51a0b50fa",
  "type":"card-to-card",
  "transfer_amount": "10.00"
}

A successful response displays the transfer_id and lists its status as Scheduled, as shown in the example below.

{
  "date_created": "2020-10-21T22:32:11.094479",
  "transfer_id": "25edf9ce-d3f4-4372-a6c4-7008b6cb8d93",
  "source_account_id": "0f7ef979-6e78-4890-9983-ceb51a0b50fa",
  "destination_account_id": "d9ff6235-ca06-425c-ae5e-70ad7cf6887a",
  "status": "Scheduled",
  "amount_in_cents": "1000",
  "currency": "USD"
}

Card-to-card payments are instantaneous, so you cannot cancel them. You can cancel pending ACH payments with a PATCH request to transfers/{transfer_id).

For a complete specification and interactive examples, see Creating a transfer in the Bond API Reference.


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