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The payment methods available for a given Moov account depend on the linked funding source as well as the capabilities on that account. For example, if your account isn’t linked to a verified bank account, you won’t have the ability to send funds with the ach-debit-fund payment method.

Once you’ve added a bank account or card and it’s been verified, your account will automatically be updated with the payment methods available to you.

Payment methods

A source represents the first stage of a transfer, and is where funds originate. A source can be an externally linked bank account, payment card, or a Moov wallet balance. A destination represents the final stage of a transfer and the ultimate recipient of the funds. Below are the payment method types and what they can be used for.

Node SDK transfer example:

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const moov = new Moov(credentialsObject);

const transfer = await moov.transfers.create({
  amount: {
    value: 100,
    currency: "USD"
  },
  destination: {
    paymentMethodID: "UUID"
  },
  source: {
    paymentMethodID: "UUID"
  },
  description: "Optional transaction description."
});

Sending to a bank account

After linking a bank account, the corresponding Moov account will automatically have the following payment methods:

• ach-credit-standard: Can only be the destination of a transfer, taking between 3-4 business days
• ach-credit-same-day: Can only be the destination of a transfer, receiving funds within 1 business day
• rtp-credit: Can only be the destination of a transfer, receiving funds in near real-time

In other words, any Moov account with a connected bank account can receive funds. However, until that bank account has been verified via an instant micro-deposit or instant account verification (via Plaid or MX), it cannot be debited.

Funding from a bank account

Once the sender party Moov account has the send-funds capability enabled and a verified bank account, the following payment method will be available:

• ach-debit-fund: Can only be the source of a transfer

The ach-debit-fund payment method indicates ACH funding of a payout, or adding funds to a Moov wallet.

Collecting funds from a bank account

You can also use a verified bank account to fund a collection transfer (for example, a bill payment). Moov accounts with verified bank accounts and the transfers capability will receive the following payment method:

• ach-debit-collect: Can only be the source of a transfer

The ach-debit-collect payment method indicates destination entity pulling funds (for example, a bill payment where the utility company is pulling funds from someone else’s account).

Collecting funds from a card

Cards can be linked to a Moov account to be charged one time or multiple times. Once a card is linked to a Moov account, the following payment method will be available:

• card-payment: Can only be the source of a transfer

The destination for a card-payment payment method must be a moov-wallet.

Moov wallet

Any account with the wallet capability will receive a Moov wallet, which can be used to store money, or as a funding source for transfers. If an account has a Moov wallet, it will also have the moov-wallet payment method.

Get payment methods

If you’d like to retrieve all available payment methods for an account, use the list payment methods GET endpoint to filter payment methods by type using the paymentMethodType query parameter.

You can also get payment methods using Moov.js.