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:
- Create a Payout Destination [International Wire]
- 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 internationaldestination_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.