Account-to-account

Transfer funds between the external accounts of different customers, or between external accounts of the same customer.

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Pre-requisite

Set up your sandbox enterprise account

Transfer funds between two different customers

Overview

This use case enables one of your customers to send money to another customer. One customer's account will be the funding source, and the other customer's account will be the funding destination.

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Key Steps

1. Authenticate to Momentum.

Use the /authenticate and /refresh endpoints.

2. Create a customer and associated external account for the first end-user, which will be the funding source.

Use the POST /persons or POST /businesses endpoint to create the customer and the POST /external/accounts endpoint to create the external account.

  • It will take ~30 seconds to verify the customer - the external account can be created while verification is occurring.
  • If you are using your own account verification provider (BYO-AVS), the external account will be automatically verified.

3. Create a customer and associated external account for the second end-user, which will be the funding destination.

Use the POST /persons or POST /businesses endpoint to create the customer and the POST /external/accounts endpoint to create the external account.

  • It will take ~30 seconds to verify the customer - the external account can be created while verification is occurring.
  • If you are using your own account verification provider (BYO-AVS), the external account will be automatically verified.

4.Transfer funds from the source to the destination.

Use the POST /transfers endpoint to create the transfer.

  • All Persons or Businesses and External Accounts must be in a verified state before the transfer can be created.

Transfer funds between two external accounts of the same customer

Overview

This use case enables a customers to transfer money between two of their own external accounts. The first external account will be the funding source and the second external account will be the funding destination.

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Key Steps

1. Authenticate to Momentum.

Use the /authenticate and /refresh endpoints.

2. Create a customer and associated external account, which will be the funding source.

Use the POST /persons or POST /businesses endpoint to create the customer and the POST /external/accounts endpoint to create the external account.

  • It will take ~30 seconds to verify the customer - the external account can be created while verification is occurring.
  • If you are using your own account verification provider (BYO-AVS), the external account will be automatically verified.

3. Create the customer's second external account, which will be the funding destination.

Use the the POST /external/accounts endpoint to create the external account.

4. Transfer funds from the source to the destination.

Use the POST /transfers endpoint.

  • Before making a transfer, all customers and externals accounts must be in verified states.
  • A transfer will initially have a status of created.