Overview
Anchor provides all of the necessary API’s to easily integrate money movement into your solution. We currently support Nigerian Bank Naira (NGN).
Types of Transfers
There are two types of transfers on Anchor:
Book transfers enable you send money within the same organization, while Bank Transfers allow you send money outside your organization.
Book Transfer or Internal Transfer are free of charge
You can either send single book transfers or send bulk transfers with one API request.
To make a transfer, you will need to provide the below parameters: type, attribute, relationship. Transfers have two relationships: a source and destination account, which represents from and where money should move be sent to.
| Name | Type | Description |
|---|---|---|
| type | string | This is the type of the transfer resource to be sent. It can be BookTransfer, NIPTransfer, ACHTransfer. |
| attribute | object | This takes parameters about the transaction such as amount, currency, reason, reference. |
| relationships | object | This represents the parties involved in the transfer. It takes the source account object (id and type of the source account) where the money is to be sent from, and the destination account object ( id and type of the destination account) where the money is to be sent to. |
**FAQ: What is the difference between Book Transfer and NIP Transfer ?**
Account-to-Account transfers also known as Book transfers are transfers to accounts within your organization. Book Transfers are free. While NIP transfers are transfers from your organization to other banks.
Updated 8 months ago