Payouts

Transfer funds off of your platform to the external checking or savings accounts of your customers.

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Prerequisite

Set up your sandbox enterprise account

Overview

This use case enables a customer to move money off of your platform and into an external checking or savings account. The customer's 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 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.

3. Transfer funds 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.
  • Do not need to pass the source object to the Transfers API. By passing only the destination, Momentum understands that the transfer is a payout and will pull funds from the external account associated with your enterprise.