Tutorial: Create Domestic Wire Transfer

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API Ref: Create Domestic Wire Transfer

WIRE payments are widely used for secure and reliable domestic and international fund transfers. The MBanq Cloud API allows developers to make WIRE payments, facilitating seamless transactions. Below is a tutorial on how developers can make WIRE payments using the MBanq Cloud API

1. WIRE Transfer Request

   To execute a WIRE transfer, send a POST request to the MBanq Cloud API with the following details:

   Bash

   curl -X POST https://api.cloud.mbanq.com/v1/transfers \
        -H "Content-Type: application/json" \
        -d '{
            "type": "CREDIT",
            "dateFormat": "dd MMMM yyyy",
            "paymentType": "WIRE",
            "amount": 1.9,
            "reference": [
                "reference text"
            ],
            "debtor": {
                "identifier": "ACCOUNT:000000001",
                "name": "Demo Client"
            },
            "creditor": {
                "name": "Zabeeullah Shaik",
                "agent": {
                    "identifier": "021000018",
                    "name": "Bank Of Afghan",
                    "address": [
                        "4250 Executive Square",
                        "California",
                        "United States"
                    ],
                    "country": "US"
                },
                "address": [
                    "Pension Lane Mulapeta",
                    "CC Avenue",
                    "Nellore AK 52400 US"
                ],
                "identifier": "WIRE://021000018/11223344556677",
                "country": "US",
                "stateOrProvince": "Alaska",
                "city": "Nellore",
                "postalCode": "52400",
                "forFurtherCredit": "Benefici Info"
            },
            "paymentRailMetaData": {
                "businessFunctionCode": {
                    "businessFunctionCode": "CTR",
                    "transactionTypeCode": ""
                },
                "receiverDepositoryInstitution": {
                    "receiverABANumber": "021000018",
                    "receiverShortName": "Mike Tyson"
                },
                "originator": {
                    "personal": {
                        "identificationCode": "D"
                    }
                },
                "beneficiary": {
                    "personal": {
                        "identificationCode": "D"
                    }
                },
                "beneficiaryFI": {
                    "financialInstitution": {
                        "identificationCode": "F"
                    }
                },
                "beneficiaryIntermediaryFI": {
                    "financialInstitution": {
                        "identificationCode": "F",
                        "identifier": "021000018",
                        "name": "Bank Of Baroda",
                        "address": {
                            "addressLineOne": "4250 Executive Square",
                            "addressLineTwo": "California",
                            "addressLineThree": "United States"
                        }
                    }
                },
                "fiAdditionalFiToFi": {
                    "additionalFiToFi": {
                        "lineOne": "Fi TO FI info"
                    }
                },
                "typeSubType": {
                    "typeCode": "10",
                    "subTypeCode": "00"
                },
                "beneficiaryReference": {
                    "beneficiaryReference": "234234234234"
                },
                "fiPaymentMethodToBeneficiary": {}
            }
        }'
   

   Parameter	Value Type	Explanation
   type	String	Specifies the type of transfer (CREDIT or DEBIT)
   dateFormat	String	Specifies the format of the date
   paymentType	String	Specifies the payment type
   amount	Numeric	Specifies the transfer amount
   reference	Array	Contains reference information for the transfer
   debtor	Object	Contains details about the debtor (sending) account
   creditor	Object	Contains details about the creditor (receiving) account
   paymentRailMetaData	Object	Contains metadata for the WIRE payment process
   businessFunctionCode	Object	Specifies the business function code of the WIRE payment
   receiverDepositoryInstitution	Object	Specifies the receiver depository institution details
   originator	Object	Contains details about the originator (sender)
   beneficiary	Object	Contains details about the beneficiary (recipient)
   beneficiaryFI	Object	Contains details about the beneficiary's financial institution
   beneficiaryIntermediaryFI	Object	Contains details about the beneficiary's intermediary financial institution
   fiAdditionalFiToFi	Object	Contains additional details about the financial institution to financial institution payment method
   typeSubType	Object	Specifies the type and subtype codes of the WIRE transfer
   beneficiaryReference	Object	Specifies the beneficiary reference for the transfer
   fiPaymentMethodToBeneficiary	Object	Contains details about the financial institution payment method to the beneficiary (optional)

   If the request is successful, you will receive a response containing the transfer ID and other relevant details.