Wire Payouts

Wire transfers are a global standard for moving funds between banks internationally. They are suitable for both domestic and international transfers. If the beneficiary’s USD bank account is located outside the United States, a wire transfer may be the preferred option.

Requirements for International Wire Payouts

To make an international wire payout you must:

1. Create a Payout Destination [International Wire]
2. Create Payout

Create Payout Destination [International Wire]

When creating an international wire payout destination, the following parameters must be included:

• wire_type - Defines whether the wire transfer is domestic or international
• destination_type - Specifies where the funds are being sent; must bebank_account
• account_type - The type of bank account (e.g., "checking", "savings").
• account_number- The recipient’s bank account number.
• routing_number - The bank’s routing number (used for domestic transfers).
• routing_type - Specifies the routing method; defaults to "SWIFT" for international transfers.
• beneficiary_name - The full name of the account holder receiving the funds.
• beneficiary_address - The physical address of the beneficiary.
• bank_name - The name of the recipient’s bank.
• bank_address - The full address of the recipient’s bank.

Create Payout

When creating a payout a payout to a stablecoin destination address, the following fields are required:

• destination_id- The payout destination ID (linked to the bank account details).
• amount- The amount to be transferred.
• description – Optional, a description of the payout for tracking purposes.