Wire Transfers

Overview

The Wire Transfers API allows you to efficiently manage domestic and international wire transfers. With a quick integration, Wire Transfers API initiates wires and tracks status, making large fund transfers fast, convenient and easy.

Features

Initiate a wire transfer.

• Initiate a one-time immediate or scheduled domestic wire transfer from an eligible originating account to a destination account within the United States.
• Initiate a one-time immediate or scheduled international wire transfer from an eligible originating account to a destination account.
• Initiate a repeat immediate or scheduled domestic wire transfer, using a repeat code that is tied to an eligible originating and destination account within the United States.

Check transaction details and status.

Retrieve transaction details and check status of a submitted wire transfer.

Receive status updates via webhooks.

Subscribe to webhooks and receive status updates and notifications for specific events.

Ideal for:

• Treasury management SaaS providers
• Title and escrow management companies
• Investment management providers
• Fintech applications supporting corporate money transfers for large amounts

Workflow

Example use cases

Transfer large deposits.

A processor of mortgage loan originations for a title and escrow company manages homeowner deposits. On closing dates, the processor needs to wire deposits to the respective mortgage lender/seller for mortgage settlements through the title company’s treasury management application. The company needs a fast, secure and robust money movement service that's easy to integrate. The company's developer team decides to use the Wire Transfers API, which enables the processor to securely initiate wires, ensure large money transfers to respective mortgage lenders/sellers are timely and become the trusted partner for managing and transferring deposits.

Manage domestic and international transfers.

A finance manager works for a multinational insurance firm and has working relationships with several major banks. To avoid logging into multiple payment portals, the manager prefers to use a treasury management (TM) SaaS platform to view and manage all the company's bank accounts, as well as money transfers. The TM SaaS application is powered by the Wire Transfers API and enables the finance manager to view and manage domestic and international wire transfers from the company’s U.S. Bank accounts.

Complete wire transfer trades immediately.

An investment banker for a multinational equity management firm manages international investment portfolios for corporate clients. Based on client requests, the banker buys and sells a portfolio of international stocks through the brokerage account from an internal equity management application. With simplicity in design and ease of integration, the development team at the firm decided to use the Wire Transfers API. This empowered the internal client application to reduce implementation time and the banker now makes international wire transfer trades immediately, building revenue for clients faster.

Restrictions

• Hours of operation for processing current day wire transfers are 7:30 a.m. CT to 5:30 p.m. CT.
• Domestic wire transfers can be scheduled for 30 days in advance.
• International wire transfers can be scheduled for one day in advance.
• Use the "application reference number" when calling for wire contact services.
• Intermediary bank details are not supported for domestic or international wires.