Tutorial: Make an Internal Funds Transfer
Tutorial: Making an Internal Funds Transfer
This tutorial will guide you through the process of making an internal funds transfer using MBanq APIs. An internal funds transfer refers to transferring funds between two accounts held within the MBanq platform. Internal Transfer are real time and the funds are deposited into creditors account instantly.
The cURL statements below will demonstrate the API requests and responses. Let's get started!
API References for Endpoints in this tutorial:
Step 1: Create an Internal Transfer
To create an internal funds transfer, use the Create Internal Transfer endpoint.
| Parameter | Type | Example Value | Explanation |
|---|---|---|---|
| type | String | "CREDIT" | The type of the transfer ("CREDIT" or "DEBIT") |
| paymentType | String | "INTERNAL" | The payment type for internal transfers |
| amount | String | "122" | The amount to transfer |
| debtor | Object | See example request | Information about the account from which funds will be debited |
| identifier | String | "id:5" | The identifier of the debtor account (e.g., "id:{account_id}") |
| accountType | String | "SAVINGS" | The account type of the debtor account |
| creditor | Object | See example request | Information about the account to which funds will be credited |
| identifier | String | "id:3" | The identifier of the creditor account (e.g., "id:{account_id}") |
| name | String | "Rakesh Ranjan Behera" | The name of the creditor (optional) |
| accountType | String | "SAVINGS" | The account type of the creditor account |
| reference | Array | ["internal tran"] | An array of references or descriptions for the transfer (optional) |
The response will include the details of the new transfer, such as the client ID, savings ID, resource ID, and resource identifier.
{
"clientId": 2,
"savingsId": 5,
"resourceId": 17,
"resourceIdentifier": "1677572588398mP"
}
This table provides an overview of the parameters used in the given cURL statement for creating a transfer. Each parameter has a corresponding value type and a definition that clarifies its purpose in the transfer creation process.
| Parameter | Value Type | Definition |
|---|---|---|
| clientId | Integer | The ID of the client associated with the transfer. |
| savingsId | Integer | The ID of the savings account from which the transfer is initiated. |
| resourceId | Integer | The ID of the resource associated with the transfer. |
| resourceIdentifier | String | The unique identifier of the resource. |
By following the steps in this tutorial, you can easily transfer funds between two accounts held by the same account holder within the MBanq platform. Remember to refer to the API documentation for more details on the available fields, response structures, and any additional functionalities related to transfers
Updated 11 months ago