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Transfer wallet-to-wallet

Wallet-to-wallet transfers provide flexibility for how and when you access funds. Some examples of when a wallet-to-wallet transfer is useful:

  • A goods or services based platform is looking to allow immediate peer-to-peer payments
  • A company wants to make payouts and give their workers the option to choose their method of disbursement
  • A subscription based company has been accumulating payments over a period of time (day, week, etc.) before sending payouts to their employees' wallets

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, otherwise known as the source account)
  • Fitness instructor (account receiving money, otherwise known as the destination account)

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 request the wallet capability for the gym’s Moov account. Once the wallet capability has been enabled, you can use the moov-wallet payment method.

The send-funds and wallet capabilities share the same requirements, so the wallet capability should be enabled instantly if you already have send-funds enabled.

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.

You’ll also need to request the wallet capability for the fitness instructor’s account.

The transfers and wallet capabilities don’t share the same requirements, so the wallet capability will not be enabled instantly if you already have transfers enabled.

Initiate the payment

Now that both the gym and fitness instructor have been set up with their wallets and the ability to send and receive funds, 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, capabilities, and the amount of the transfer. Select the moov-wallet payment method.

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 our additional use case guides: