Smart Bank Transfer Payouts
The SMART_BANK_TRANSFER_PAYOUT method enables secure and efficient disbursement of funds to bank accounts through both local and international banking networks. It supports domestic clearing systems (e.g., ACH, SEPA, FPS) as well as cross-border payouts via IBAN/SWIFT-based rails.
The platform automatically determines the best routing option based on the destination country, transaction currency, and regional compliance rules. Payouts are initiated by the platform or merchants and are credited to the beneficiary’s bank account. Depending on regional requirements, certain transactions may require additional identity verification or security details.
Supported Payout Networks
| Payout Method | Regions Supported | Notes |
|---|---|---|
| SEPA Credit Transfer | EU, EEA | Requires IBAN; BIC is optional. |
| SWIFT | Global | Uses IBAN and SWIFT; additional identifiers may be needed. |
| ACH | United States | Requires account number and ABA routing number. |
| FedNow / RTP | United States | Supports real-time or near-instant bank transfers. |
| Interac / EFT | Canada | Requires transit number, institution number, and account. |
| Faster Payments / CHAPS | United Kingdom | Uses sort code and account number for fast or high-value transfers. |
| BACS | United Kingdom | Batch processing requiring a sort code. |
| SPEI | Mexico | Uses account number with CLABE or routing details. |
| PIX | Brazil | Uses CPF (tax ID) and bank account or alias for fast transfers. |
| MULTIBANCO | Portugal | Requires bank code and account information. |
| Local rails (APAC, CIS, etc.) | Country-specific | Fields and requirements vary by country and bank network. |
SmartBankTransferPayoutPayload Fields
SmartBankTransferPayoutPayload Fields| Field | Type | Required? | Description |
|---|---|---|---|
paymentMethod | ApmMethod | Yes (default) | Always SMART_BANK_TRANSFER. |
paymentType | ApmFlowType | Yes (default) | Always BANK_TRANSFER. |
iban | String | Yes (EU/global) | Required for SEPA and SWIFT transfers in EU and international payouts. |
bic | String | Depends | Often required for international transfers when IBAN is used. |
swiftCode | String | No | Optional SWIFT routing code for cross-border payouts. |
accountNumber | String | Depends | Required in regions without IBAN (US, CA, UK, AU, etc.). |
routingNumber | String | Depends | Mandatory in US (ABA), UK, and certain LATAM/APAC countries. |
sortCode | String | Depends | UK-specific bank routing code for local transfers. |
bankCode | String | No | Generic bank identifier used in specific regions. |
branchCode | String | No | Branch-level routing code (e.g., IFSC for India, MICR). |
institutionNumber | String | No | Canada-specific bank identifier, used with transitNumber. |
transitNumber | String | No | Canada-specific bank routing number, paired with institutionNumber. |
bankName | String | No | Human-readable name of the receiving bank. |
bankCity | String | No | City where the beneficiary's bank branch is located. |
country | String | Yes | Destination country for the payout transaction. |
bankAccountType | String | No | Indicates whether the account is checking, savings, etc. |
bankCleaningSystemId | String | No | Country-specific clearing or settlement system identifier. |
accountHolderName | String | Yes | Name of the beneficiary holding the account. |
securityQuestion | String | No | Optional security question required in some regions (e.g., CA/US). |
securityAnswer | String | No | Answer to the security question, used for transaction validation. |
Note:
- Yes → Mandatory field
- No → Optional field
- Depends → Required only for certain regions or payout methods
SmartBankTransferPayoutResponseData Fields
SmartBankTransferPayoutResponseData Fields| Field | Type | Required? | Description |
|---|---|---|---|
paymentMethod | ApmMethod | Yes | Always SMART_BANK_TRANSFER. |
paymentType | ApmFlowType | Yes | Always BANK_TRANSFER. |
redirectUrl | String | Optional | URL for completing additional verification or post-payout action. |
iframeUrl | String | Optional | URL to display embedded payout status (if supported). |
providerTransactionId | String | Yes | Unique identifier for the payout transaction from the processor. |
accountHolderName | String | Optional | Echoed name of the account holder for confirmation and auditing. |
maskedAccountNumber | String | Optional | Masked version of the beneficiary’s account number for secure logging. |
iban | String | Optional | Returned or echoed IBAN of the payout account. |
bic | String | Optional | Returned or echoed BIC code for international payouts. |
swiftCode | String | Optional | Returned or echoed SWIFT code used in cross-border transfers. |
accountNumber | String | Optional | Returned full account number for reconciliation. |
routingNumber | String | Optional | ABA or other routing code for local payouts. |
sortCode | String | Optional | Returned UK-specific bank routing code. |
branchCode | String | Optional | Branch routing code (e.g., IFSC). |
bankCode | String | Optional | Generic bank identifier provided by the processor. |
institutionNumber | String | Optional | Canada-specific bank institution number. |
transitNumber | String | Optional | Canada-specific transit number for bank routing. |
bankName | String | Optional | Name of the beneficiary’s bank. |
bankCity | String | Optional | City of the bank branch for payout destination. |
country | String | Optional | Destination country of the payout. |
bankAccountType | String | Optional | Type of bank account (e.g., checking, savings). |
bankCleaningSystemId | String | Optional | Clearing or settlement system ID from the payout processor. |
securityQuestion | String | Optional | Echoed security question if collected. |
securityAnswer | String | Optional | Echoed answer to the security question if collected. |
bankMetadata | Map<String, String> | Optional | PSP-specific metadata for reporting, reconciliation, or auditing. |
Best Practices & Recommendations
- EU & International: Use
iban+bicfor SEPA and SWIFT transfers. - US/Canada: Use
accountNumber+routingNumberfor local payouts. - UK: Use
sortCode+accountNumberfor Faster Payments or CHAPS. - Validation: Always validate country-specific field formats before submission to prevent failures.
- Security Fields: Collect
securityQuestionandsecurityAnswerfor regions requiring additional verification (e.g., Canada). - Metadata: Utilize
bankMetadatato store PSP-specific details such as internal references or tracking IDs for enhanced reconciliation.
Updated 8 days ago