Payout Destinations

Payout Destinations are essential for efficiently directing funds to their intended recipients. Here, you can manage, fetch, and list payout destinations—integral for initiating payouts seamlessly.

Payout Destination Types

When creating a payout destination, you'll be prompted to specify the "type" of destination. The choice of type determines the nature of the payout and, in some cases, the currency in which it operates.

Supported Destination Types

ACH (Automated Clearing House): Used for domestic transfers within the United States, suitable for sending funds to a US-based external bank account.
Wire: Global standard for bank-to-bank fund transfers, supporting both domestic and international transactions. If the beneficiary's USD bank account is outside the United States, a wire transfer may be the preferred option.
Internal: Transfers funds between accounts within the Graph platform, supporting both USD and NGN.
NIP (Nigeria Inter-Bank Settlement System): Specific to Nigeria and used for NGN transactions within the country.
Stablecoin: Allows payouts using crypto stablecoins, sending funds to an on-chain address instead of a traditional bank account.

Each destination type determines the payout's nature and the applicable currency.

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.

Required Fields for Wire Payout Destinations

When creating a 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.

🚧 Note:

For domestic wire transfers within the U.S. routing_type can be ABA
For international wire transfers, routing_type must be SWIFT

📘
🚀(NEW) Stablecoin Payouts
We now support stablecoin payouts, allowing funds to be sent to an on-chain wallet address rather than a bank account.
Required Fields for Stablecoin Payout Destinations
When creating a payout destination for stablecoins, you need to pass the following fields:

account_id – The sender’s account from which the funds will be deducted.

source_type – Must be set to "wallet_account", as stablecoin payouts originate from a digital wallet.

type – Must be set to "stablecoin" to specify that the payout is crypto-based.

destination_type – Must be set to "address" since the payout is being sent to a blockchain address.

Required Fields for Creating a Stablecoin Payout
When initiating a payout to a stablecoin destination, include:

destination_id – The payout destination ID (linked to the blockchain address).

amount – The stablecoin amount to be transferred.

description – Optional, a description of the payout for tracking purposes.

Routing Type

Additionally, when setting up certain payout destinations, you'll encounter the "routing type" option, which helps specify the payment method further.

Available Routing Types

ABA (American Bankers Association): Used for ACH transfers within the United States.
SWIFT (Society for Worldwide Interbank Financial Telecommunication): Used for Wire transfers, enabling global transactions.

🚧
Point of Note

Stablecoin payouts do not require routing types since transactions are processed on the blockchain.

NGN payouts (via NIP) also do not require routing types.

Available Endpoints

Now that you're familiar with the payout destination types and routing options, let's explore the available endpoints: