Transfer Speed

Transfer speed

When you create a transfer, the speed parameter will impact how quickly funds will arrive in the destination account. The table below shows the correlation between the speed requested and the funds delivery time per use case.

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The funds delivery times in the above table assume transfer requests are received by the cutoff time. If a transfer request is received after the cutoff time, an extra business day will be added to the funds delivery time.

Estimated funds delivery date

Momentum provides the estimated_funds_delivery_date as an indication of when the funds are expected to be settled in the destination account. Once the date is calculated, a transfer_updated webhook is triggered, and the estimated_funds_delivery_date is included in the webhook payload. Additionally, the GET /transfers/{id} and GET /transfers API responses also contain the estimated_funds_delivery_date field.

{
    "event_id": "30136439-2e46-4240-a3mc-d46ca9ffb46s",
    "event_type": "transfer_updated",
    "created_at": "2022-09-14T21:58:43.877Z",
    "event_data": {
        "transfer": {
            "id": "ab53a6f0-ea6f-4753-853d-8f944cadcba5",
            "amount": 400,
            "transfer_reference_id": "d7pd620d-v2ba1-44n2",
            "currency": "USD",
            "speed": "same_day",
            "status": "pending",
            "estimated_funds_delivery_date": "2022-09-17T00:00:00Z",
            "account_statement_descriptor": "Account to account transfer",
            "created_at": "2022-09-14T20:58:19.256831Z",
            "updated_at": "2022-09-14T21:58:24.205573Z",
            "source": {
                "account_reference_id": "3c0699pw4-2e4091",
                "customer_reference_id": "9rs61-917dna80"
            },
            "destination": {
                "account_reference_id": "p7db1-2n38ywn",
                "customer_reference_id": "5jd29a-ja2qof612"
            }
        }
    }
 }