The Account Transfers API allows you to easily move funds between domestic U.S. Bank demand-deposit accounts (DDA) in real time. You can also track and manage account transfer details.
- Initiate an account transfer.
- Retrieve the transaction details of a specific transfer.
- Search for an account transfer and retrieve the history.
Example use cases
Accept income payments.
A municipality manages 10 to 50 subsidiaries, using one U.S. Bank account with sub-ledger accounts for each subsidiary. Each month, income funds must be transferred to the corporate key account from the sub-ledger accounts. Using the Account Transfers API, the municipality can automate these income transfers to increase productivity, reduce risk and improve money management.
A property company supervises 100 rental locations with one corporate key account with U.S. Bank and multiple sub-ledger accounts for each of their properties. When rental properties need renovation or other operational expenses, funds from the corporate key account are transferred to the respective sub-ledger account. Using the Account Transfers API, the company automatically transfers the funds without employee intervention.
A transfer between DDA accounts initiated after midnight local time will show as pending but will process and post the next day after 6:00 a.m. local time. However, account balances are updated immediately.