Glossary

What it is

In general, a US bank-to-bank payment network used for domestic transfers such as payroll, bill payments, and account transfers. ACH transactions are batch-processed (not real-time), with settlement typically taking 1-2 business days.

Cybrid implements same day ACH which means an ACH bank transfer that’s submitted, processed, and settled on the same business day (instead of the usual 1–2 business days), as long as it’s sent before the network’s cutoff times.

Common uses

• Payroll direct deposit
• Bill payments
• Bank account transfers

What it is

• Action: A company pulls funds from a customer's bank account.
• Initiator: The merchant or payee initiates the transaction.
• Authorization: Requires explicit customer authorization.

Common uses

• Subscription payments
• Utility bills
• Mortgage payments
• Bank-linked online purchases

What it is

• Action: A sender pushes funds into another bank account.
• Initiator: The payer sends the funds.
• Authorization: The payer authorizes the payment.

Common uses

• Payroll direct deposit
• Vendor payments
• Tax refunds

What it is

Canada's bank-to-bank transfer system, similar to ACH in the United States.

Common uses

• Payroll
• Bill payments
• Interbank transfers

What it is

A US payment rail that enables instant money movement 24/7/365. Payments are final and irreversible once completed.

Common uses

• Instant payouts
• Emergency or time-sensitive payments
• On-demand disbursements

What it is

A cross-border transfer of funds, typically involving currency conversion and local payment rails.

Common uses

• International money transfers
• Cross-border payouts
• Supporting family members abroad

What it is

The process of moving money from one country back to another, often subject to regulatory or tax restrictions.

Common uses

• Moving foreign earnings back to a home country
• Returning investment proceeds
• Cross-border business settlements

What it is

A failure that occurs when an account does not have enough balance to complete a transaction.

Common impacts

• Failed payments
• Returned transactions
• Additional bank fees

What it is

An entity that advances funds before underlying transactions fully settle, enabling faster access to money.

Common uses

• Accelerating payouts
• Improving user cash flow
• Managing settlement delays

What it is

A unique tracking number assigned to each wire payment, used to trace, investigate, and reconcile wire transfers. An IMAD typically combines a date (YYYYMMDD), a source identifier (8 alphanumeric characters), and a sequence number (6 digits).

Example format

YYYYMMDD ABCDXXXX 012345

IMAD/OMAD pairing

• Sending bank assigns the OMAD
• Receiving bank records the IMAD

What it is

A unique identifier assigned by the Federal Reserve to a Fedwire Funds Service outgoing payment message. OMAD is generated by the sending institution's Fedwire system and is used to track, reconcile, and audit outbound wire transfers. It pairs with an IMAD on the receiving side to uniquely identify a wire transaction end-to-end.

Common uses

• Wire tracking: locate or confirm a specific outgoing Fedwire payment
• Reconciliation: match outbound wires with settlement and ledger entries
• Investigations and recalls: resolve payment errors or disputes
• Audit and compliance: prove message origination and uniqueness

IMAD/OMAD pairing

• Sending bank assigns the OMAD
• Receiving bank records the IMAD

What it is

The movement of funds between accounts, either within the Cybrid platform or to external accounts.

What it is

A zero-cost internal transfer that moves funds between accounts on the Cybrid platform. Book transfers settle instantly and support bank-to-customer and customer-to-customer movements.

What it is

A transfer that moves fiat currency into or out of a customer account via a Plaid-connected external bank account, triggering an ACH or EFT transaction on the underlying payment rail.

What it is

An on-chain transfer of cryptocurrency to an external wallet (withdrawal) or from an on-chain deposit address (deposit). Crypto transfers incur network fees and require blockchain confirmations.

What it is

The process of converting fiat currency into cryptocurrency or depositing fiat onto the Cybrid platform. On-ramping typically involves a funding transfer followed by a trade.

What it is

The process of converting cryptocurrency back to fiat currency or withdrawing fiat from the Cybrid platform to an external bank account.

What it is

The process by which a transfer or trade is finalized and funds become available. Settlement timelines vary by payment rail: instant for RTP and book transfers, hours for same-day ACH and wire, and 1-2 business days for standard ACH and EFT.

What it is

The underlying payment network used to move funds in a transfer. Cybrid supports multiple rails including ach, eft, rtp, wire, and etransfer, each with different settlement speeds and availability windows. Lightning Network transfers use the lightning transfer_type rather than a payment_rail parameter.

What it is

The act of holding customer or partner funds or assets on their behalf, rather than merely facilitating money movement.

Common uses

• Holding customer balances
• Safeguarding assets
• Supporting regulated financial services

What it is

An account structure where funds are held for the benefit of customers or partners, not owned by the platform itself.

Common uses

• Platform wallets
• Pooled customer accounts
• Regulated fund segregation

What it is

An Indian bank account for Non-Resident Indians (NRIs) to hold income earned outside India.

Common uses

• Receiving overseas income
• Repatriating funds to India
• International remittances

What it is

An Indian bank account for NRIs to manage income earned inside India, such as rent or pensions.

Common uses

• Managing local income
• Paying expenses in India
• Receiving dividends or pensions

What it is

An organizational unit within Cybrid associated with financial services, including customer accounts and transactions. Banks can exist in sandbox or production environments.

What it is

A credit-only, routable bank account created on the Cybrid platform and linked to a fiat platform account. It accepts third-party Wire, ACH push, or RTP/FedNow transfers and does not hold funds directly—balances are reflected in the linked fiat platform account.

What it is

A bank account external to the Cybrid platform, linked via Plaid for transactions such as deposits and withdrawals.

What it is

A platform account that holds traditional fiat currencies such as USD or CAD. Fiat accounts are required for funding deposits, trading operations, and fiat withdrawals. Created with type: fiat.

What it is

A platform account that holds cryptocurrencies for trading operations. Each trading account is associated with a single crypto asset (such as BTC or USDC). Trades are executed using trading symbols (such as BTC-USD) that are configured for that asset. Created with type: trading.

What it is

A platform account that holds cryptocurrencies on-chain in cold storage rather than in the trading system. Storage accounts are used for long-term holding with a third-party cold storage provider. Created with type: storage.

What it is

Traditional government-issued legal tender not backed by a physical commodity.

Examples

USD, CAD, INR

Common uses

• Everyday transactions
• Savings and salaries
• Government payments

What it is

The official currency of India.

Common uses

• Domestic transactions in India
• Salaries and expenses
• Local banking accounts

What it is

A USD-pegged stablecoin used for fast settlement and liquidity.

Common uses

• Cross-border settlements
• On-chain payments
• Liquidity management

What it is

A fiat currency (such as USD or CAD), cryptocurrency (such as BTC or ETH), or stablecoin (such as USDC) that can be held in an account or traded on the Cybrid platform.

What it is

A unique address used to receive cryptocurrency deposits into an account on the Cybrid platform.

What it is

A cryptocurrency wallet external to the Cybrid platform, linked for transactions or custody purposes.

What it is

A payment protocol for fast, scalable Bitcoin transactions.

Common uses

• Instant payments
• Microtransactions

What it is

A pairing used in trading that represents two assets, such as BTC-USD, where BTC is the base asset and USD is the counter asset.

What it is

A transaction involving the exchange of one asset for another, such as buying or selling cryptocurrency.

What it is

A digital or physical device for securely storing and transacting cryptocurrency.

What it is

Verified data that has been certified by a trusted third party to confirm accuracy or compliance.

Common uses

• Identity verification
• Business verification
• Compliance confirmation

What it is

A regulatory process for verifying the identity of individual customers before providing financial services.

Common uses

• Customer onboarding
• Fraud prevention
• Regulatory compliance

What it is

A regulatory process for verifying business entities, including ownership and control structures.

Common uses

• Merchant onboarding
• Partner due diligence
• Regulatory compliance

What it is

The process of confirming that a person or business is who they claim to be.

Common uses

• Account creation
• Transaction approval
• Risk mitigation

What it is

A Canadian regulatory report required for large virtual currency transactions.

Common uses

• Regulatory reporting
• AML compliance

What it is

A Canadian law regulating payment service providers (PSPs).

Why it exists

• Safeguard customer funds
• Manage operational risk
• Enforce reporting obligations

What it is

The organization that governs and enforces the rules for ACH transactions in the United States.

Common responsibilities

• Rulemaking
• Network governance
• Enforcement actions

What it is

Personal data collected and validated during identity verification (KYC/KYB). PII includes name, date of birth, address, phone number, email address, and government-issued identification numbers such as SSN or SIN. Accessing PII through the API requires specific read scopes.

What it is

A set of regulations and screening processes designed to prevent the use of financial systems for money laundering and terrorism financing.

Common checks

• Politically Exposed Person (PEP) screening
• Watchlist and sanctions screening
• Adverse media screening

What it is

A more rigorous identity verification process required for customers who want higher activity limits. EDD includes documentation of Source of Funds (SoF) and Source of Wealth (SoW) to support larger transactions.

What it is

An individual who owns or controls a significant share (usually 25% or more) of a business. During KYB (Know Your Business) verification, each UBO must complete individual KYC before the business verification can proceed.

What it is

A centralized system used to manage core business operations such as accounting, billing, and payroll.

Common uses

• General ledger management
• Invoicing and billing
• Financial reporting
• Audit support

What it is

A global set of accounting standards governing financial reporting.

Common uses

• Preparing financial statements
• Cross-border reporting
• Regulatory disclosures

What it is

The finance function responsible for budgeting, forecasting, and financial modeling.

Common uses

• Budget creation
• Forecasting performance
• Scenario modeling

What it is

A unit of measurement equal to one hundredth of a percent.

Common uses

• Interest rate changes
• Fee comparisons
• Margin analysis

What it is

A security and compliance audit framework for managing customer data.

Common uses

• Vendor due diligence
• Customer trust assurance
• Security compliance

What it is

An authorized security exercise to identify system vulnerabilities.

Common uses

• Security assessments
• Risk mitigation
• Compliance validation

What it is

An access token used in OAuth 2.0 authentication to verify and grant access to resources.

What it is

The authorization framework used by the Cybrid platform for API authentication. Cybrid uses the Client Credentials Grant flow, where a Client ID and Client Secret are exchanged for a bearer token.

What it is

An API key pair generated in the Partner Portal for machine-to-machine authentication. The Client ID identifies the application, and the Client Secret is the private key used to obtain bearer tokens via OAuth 2.0.

What it is

Authorization permissions that control what actions an API token can perform. Cybrid defines three scope types per resource: read (list and view), write (update), and execute (create).

What it is

An access token scoped to the entire Organization and all of its banks. Organization tokens are used for organization-level operations such as managing webhook subscriptions.

What it is

An access token scoped to a specific bank. Bank tokens are used for bank-level API operations such as creating customers, managing accounts, and executing trades.

What it is

An access token scoped to a specific customer within a bank. Customer tokens provide least-privilege access for client-side operations, such as launching identity verification or viewing account balances.

What it is

An individual or business entity that interacts with the Cybrid platform via a bank. Customers must pass identity verification (KYC/KYB) before using the platform.

What it is

A representation of an individual or business external to the Cybrid platform. Counterparties may be involved in transactions but do not directly use Cybrid's services.

What it is

A predefined response indicating an issue encountered during API operations, such as invalid parameters, unsupported values, or insufficient permissions.

What it is

A mechanism for real-time notifications from the Cybrid platform to an external application about specific events, such as account updates or trade settlement.

What it is

A predefined sequence of actions automated by the Cybrid platform to facilitate complex processes such as customer onboarding or trade settlement.

What it is

A unique identifier assigned to every resource on the Cybrid platform, such as customer_guid, bank_guid, quote_guid, and transfer_guid. GUIDs are used across all API requests and responses to reference specific resources.

What it is

The root entity on the Cybrid platform under which all banks are created. Webhooks, API keys, and organization-level access tokens are managed at this level.

What it is

A business entity that integrates with the Cybrid platform to offer financial services to their customers. Partners manage one or more banks and access the platform through the Partner Portal and API.

What it is

A web-based dashboard for managing your integration with the Cybrid platform.

Common uses

• Generating and managing API keys
• Configuring bank settings and supported assets
• Viewing customer records and identity verifications
• Monitoring trades, transfers, and webhook subscriptions

What it is

A secure, non-production environment for exploring the Cybrid API and Partner Portal with simulated activities. Sandbox banks use blockchain testnets and do not process real funds.

What it is

The live environment on the Cybrid platform where real funds are processed, real compliance checks are performed, and transactions settle on blockchain mainnets. Production banks can only be created by the Cybrid team.

What it is

A time-limited pricing offer for a trade, transfer, or book transfer. Quotes include the exchange rate, fees, and amounts. They must be executed before they expire (30 seconds in sandbox, 7 seconds in production).

What it is

A virtual account on the Cybrid platform for holding fiat currencies or cryptocurrencies. Accounts are created for customers or banks and come in several types: fiat, trading, storage, and invoice_operations.

What it is

A third-party service used on the Cybrid platform to connect customer bank accounts. Plaid enables secure bank account linking, balance verification, and fund transfers via ACH or EFT.

What it is

A third-party identity verification provider used by the Cybrid platform. Persona drives KYC and KYB verification flows through its SDK, including document capture, selfie checks, and compliance screening.

What it is

An AI technique that retrieves approved information before generating responses.

Common uses

• Internal knowledge assistants
• Customer support bots
• Documentation search

What it is

Short-lived data or system state that does not persist long-term.

Common uses

• Session data
• Temporary caches
• In-flight processing