Instant Funding

Learn how to execute fiat instant funding transfers

Instant funding

The Cybrid Platform offers an instant funding capability to accelerate the settlement of ACH/EFT fiat funding deposit transfers.

To use this feature, partners pre-fund their bank-level fiat account. When an instant funding deposit transfer is submitted by a customer, the fiat amount is book transferred from the partner's pre-funded fiat bank-level account to the customer's fiat account.

When the customer's ACH debit settles on the Cybrid Platform, the funds are deposited in the partner's pre-funded fiat bank-level account to reimburse for the instant funding amount.

With this feature enabled, partners can offer instant fiat settlement to their customers to improve user experiences within our partner's applications.

Steps

Once the bank-level fiat account has been pre-funded, here are the steps to execute an instant funding transfer:

• Create a quote using the POST /api/quotes endpoint
  • Provide the "funding" value in the "product_type" parameter
  • Provide the "USD" value in the "asset" parameter
  • Provide the "deposit" value in the "side" parameter
  • Provide the "customer_guid" parameter
  • Provide that amount in the "receive_amount" parameter (e.g. $1 USD)

{
  "product_type": "funding",
  "asset": "USD",
  "side": "deposit",
  "customer_guid": "<customer_guid>",
  "receive_amount": 100
}

• Create a transfer using the POST /api/transfers endpoint
  • Provide the "instant_funding" value in the "transfer_type" parameter
  • Provide the "quote_guid" value from the quote created above
  • Provide the "external_bank_account_guid" of the destination customer fiat account

{
  "transfer_type": "instant_funding",
  "quote_guid": "<quote_guid>",
  "external_bank_account_guid": "<external_bank_account_guid>"
}

• Once executed, you'll immediately see the instant funding transfer amount reflected in the "platform_available" of the partner bank-level fiat pre-fund account and the customer fiat account
• Also, you'll see another transfer will be created for the book transfer (i.e. "transfer_type": "book") from the bank-level fiat pre-fund account to to the customer-level fiat account
• While the funds are available immediately, the instant funding transfer won't progress to "state":"completed" until the same-day ACH has completed