Skip to content

Facilitate account-to-account transfers

Overview

If you’re looking for a way to facilitate a payment between two accounts on your platform (what we describe as an account-to-account transfer), this guide will cover the flow for your use case. Some examples of account-to-account transfers include:

  • A marketplace enabling businesses to pay their vendors
  • A service platform allowing customers to pay their service providers
  • A SaaS company helping contractors to pay subcontractors
  • An HR tool with a feature where companies can pay their employees

Key players

For the purposes of this guide, we’ll assume you are a developer building a fitness marketplace with the following key players:

  • Fitness platform that connects gyms with fitness instructors (account facilitating the transfer)
  • Gym (account sending money, aka source account)
  • Fitness instructor (account receiving money, aka destination account)

In this use case, the fitness platform is not directly involved in the transaction. Their role is to help the gym pay a fitness instructor they’ve hired and booked through the platform.

Get your access token

To get started, you’ll need to:

tip
For more detailed instructions, see our Quick start guide.

Set up the source account

Start by creating a Moov account for the gym. Then, request the send-funds capability for the gym’s account. The capabilities endpoint will specify what information Moov needs about the gym as a company before we enable the requested capability. Capabilities

In addition, you’ll need to add the gym’s bank account as a funding source for paying the instructors. The gym must complete the micro-deposit verification process before you can use their account to send funds. Bank accounts

Set up the destination account

Next, create a Moov account for the fitness instructor. This will be the destination account, since the fitness instructor is the one who will be receiving the funds. Request the transfer capability for the fitness instructor’s account. The capabilities endpoint will specify what information we’ll need about the fitness instructor.

Add a bank account for the fitness instructor. They will need to complete the micro-deposit verification process in order to be able to use their bank account in the transfer. Bank accounts

Initiate the payment

Now that both the gym and fitness instructor have been set up with the right capabilities and bank accounts, you’re ready to create the payment.

First, get a list of the available payment methods for both accounts through the transfer options endpoints. The list includes all the payment methods the gym and fitness instructor can use based on their linked bank accounts and the amount of the transfer. Select the payment method you’d like to use for the transfer.

You can now initiate a transfer between the two accounts, using the payment method IDs you got earlier in the transfer options request.

What’s next

Feel free to explore our API reference or take a look at additional use case guides: