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 --location 'https://api.stage.mbanq.cloud/v1/payments' \
   --header 'tenantId: default' \
   --header 'instance: default' \
   --header 'Content-Type: application/json' \
   --header 'Authorization: Bearer eyJhbGciOiJIUzUxMiJ9.eyJzdWIiOiJ2aW5vZDExIiwidXNlcl9qd3RfbG9naW4iOnRydWUsImlzQWNjZXNzVG9rZW4iOnRydWUsImV4cCI6MTc1MDI0NDAxNiwidXNlcklkIjo4ODAsImlhdCI6MTc1MDI0MDQxNiwib2F1dGhfY2xpZW50X2lkIjoiYmFja29mZmljZSJ9.ANwRfaN-Vm7veTUNKCPOvfvgCphgOCYC1I5uvB-lu2g0pbsqMVEQYwPl_uOuhXgvKZ5BQC1p1SvQcgih_8FGpA' \
   --data '{
             "paymentType": "CREDIT",
             "paymentRail": "WIRE",
             "amount": 1,
   
             "originator": {
               "accountId": "000000293"
             },
             "recipient": {
   
               "name": "Cemet Consulting LLC",    
               "accountNumber": "000000321",   
               "contactNumber" : "+13334449999",
   
               "address": {
                 "line1": "415 N Oakhurst", 
                 "line2": "Dr, Apt 106",  
                 "city": "Park City",  
                 "mobileNo":" +13334449999",
                 "stateCode": "AZ",
                 "countryCode": "US",	   
                 "postalCode": "85288"
               },
               "bankInformation": {              
                 "routingNumber": "321070007"  
               }
             },
             "reference": "Pago general serv",     
             "forFurtherCredit" : "MV VYSYA BANK ACC NUM1234656" 
           }'

   Parameter	Value Type	Explanation
   paymentType	String	Type of the transaction; "CREDIT" means sending funds to a recipient. (CREDIT or DEBIT)
   paymentRail	String	Payment rail/network used, e.g., "WIRE" for wire transfer.
   amount	Numeric	Specifies the transfer amount
   originator.accountId	String	The account ID of the sender/originator.
   recipient.name	String	Name of the recipient receiving the funds.
   recipient.accountNumber	String	Recipient's bank account number.
   recipient.contactNumber	String	Phone number of the recipient.
   recipient.address.line1	String	Address Line 1 of the recipient's address.
   recipient.address.line2	String	Address Line 2 of the recipient's address.
   recipient.address.city	String	City in the recipient’s address.
   recipient.address.mobileNo	String	Mobile number of the recipient.
   recipient.address.stateCode	String	State code in the recipient’s address
   recipient.address.countryCode	String	Country code of the recipient.
   recipient.address.postalCode	String	ZIP/postal code in the recipient’s address
   recipient.bankInformation.routingNumber	String	Routing number for WIRE payments.
   reference	String	Free-text description or memo for the transaction.
   forFurtherCredit	String	Additional instruction to credit another party, e.g., intermediary bank.

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