NIP Transfers

Requirements for NIP Transfers (Nigerian Bank Transfers)

To make aa NIP Transfer (Nigerian Interbank Payment) transfer, you must:

1. Create a Payout Destination [NIP Transfer]
2. Create Payout

Create Payout Destination [NIP Transfer]

When creating a NIP payout destination, you'll need the following parameters:

• source_type- Specifies the source account type where the funds are being sent from
• type - Must be set to "NIP" to specify Nigerian interbank transfer.
• account_id - Specifies the account where the funds are being sent from
• label - A user-friendly name or label for this payout destination
• destination_type - Specifies where the funds are being sent; must bebank_account
• account_type - Specifies the type of account
• bank_code - The NIP code for the recipient’s bank.
• account_number- The recipient’s Nigerian bank account number.
• beneficiary_name - The full name of the account holder.

Create Payout

To send a NIP transfer payout, provide:

• 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.

Example Flow

1. List Banks: Get available banks and their NIP codes.
2. Resolve bank account: Confirm the recipient's account name and number match
3. Create Payout Destination: Save recipient details for future payouts.
4. Create Payout: Initiate the transfer using the destination ID and amount

Create Payout Destination (NIP Transfer)

{
  "source_type": "wallet_account",
  "type": "nip",
  "account_id": "ed5d4ea4e93311efb8d20edcd86e5ab3",
  "label": "Vendor - John Doe",
  "destination_type": "bank_account",
  "account_type": "personal",
  "bank_code": "000014",
  "account_number": "1499856635",
  "beneficiary_name": "John Doe"
}

Create Payout

{
  "destination_id": "ed5d4ea4e93311efb8d20edcd86e5ab3",
  "amount": 50000,
  "description": "Vendor payment for June",
}