Note: Only business accounts have the ability to collect payments. If you’re looking to collect funds from other accounts, this guide covers the flow for your use case.
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.
Pay out money
At Moov, we think of payouts as any instance where you need to send funds as compensation (e.g., you need to pay an independent contractor or service provider).
Transfer funds to yourself
When the same person or company is on both sides of a transfer, we call that a self-to-self transfer. Some examples of self-to-self transfers include:
Wallet-to-wallet transfers provide flexibility for how and when you access funds. Some examples of when a wallet-to-wallet transfer is useful: