Book Transfers
How do I execute a book transfer?
Learn how to execute fiat and crypto book transfers
The book transfer capability offers significant flexibility in controlling funds on the Cybrid Platform and offers a zero-cost method to move funds between accounts on the platform. The following types of book transfers are supported:
- bank -> customer
- customer -> bank
- customer -> customer
All transfers on the platform must be like for like. This means you can perform the following types of transfers:
- fiat -> fiat
- crypto -> crypto
As long as the source account and destination account are of the same asset type (e.g. USD -> USD, BTC -> BTC), with a bank account on one side and a customer account on the other side, then transfers are quick and easy.
Tip: Book transfers may be used to enable transfer of funds between a partner's pre-funded bank accounts on the platform and customer accounts. For more information regarding pre-funding, please reach out to partner support.
Fiat book transfer
As an example, let's use the book transfer feature to transfer $1 USD from a fiat funding bank account to a fiat funding customer account. Here are the steps to complete this transaction:
- Create a quote using the POST /api/quotes endpoint
- Provide the "book_transfer" value in the product_type parameter
- Provide the "USD" value in the asset parameter
- Note: The side is omitted for book transfers, all book transfers will be "deposit"
- We're book transferring $1 USD to the customer account so we'll also provide that amount in the receive_amount parameter
{
"product_type": "book_transfer",
"asset": "USD",
"receive_amount": 100
}
- Create a transfer using the POST /api/transfers endpoint
- Provide the quote_guid value from the quote created above
- Provide the "book" value in the transfer_type parameter
- Provide the source_account_guid and destination_account_guid values. Since we're transferring from the bank account to the customer account, the source in this example is the bank account, and the destination is the customer account
- Provide
source_participants
anddestination_participants
for book transfers.
{
"transfer_type": "book",
"quote_guid": "<quote_guid>",
"source_account_guid": "<bank account_guid>",
"destination_account_guid": "<customer account_guid>",
"source_participants": [
{
"type": "bank",
"amount": 100,
"guid": "<bank_guid>"
}
],
"destination_participants": [
{
"type": "customer",
"amount": 100,
"guid": "<customer_guid>"
}
]
}
- Once executed, you should immediately see the transferred amount reflected in the platform_available of the bank account and the customer account
Crypto book transfer
In the example, let's transfer 1 USDC (Ethereum) from a crypto trading bank account to a crypto trading customer account.
- Create a quote using the POST /api/quotes endpoint
- Provide the "book_transfer" value in the product_type parameter
- Provide the "USDC" value in the asset parameter
- Note: The side is omitted for book transfers, all book transfers will be "deposit"
- We're book transferring 1 USDC to the customer account so we'll also provide that amount in the receive_amount parameter
{
"product_type": "book_transfer",
"asset": "USDC",
"receive_amount": 1000000
}
- Create a transfer using the POST /api/transfers endpoint
- Provide the quote_guid value from the quote created above
- Provide the "book" value in the transfer_type parameter
- Provide the source_account_guid and destination_account_guid values. Since we're transferring from the bank account to the customer account, the source in this example is the bank account and the destination is the customer account
{
"transfer_type": "book",
"quote_guid": "<quote_guid>",
"source_account_guid": "<bank account_guid>",
"destination_account_guid": "<customer account_guid>",
"source_participants": [
{
"type": "bank",
"amount": 100,
"guid": "<bank_guid>"
}
],
"destination_participants": [
{
"type": "customer",
"amount": 100,
"guid": "<customer_guid>"
}
]
}
- Once executed, you should immediately see the transferred amount reflected in the platform_available of the bank account and the customer account
Updated about 1 month ago