Payouts

Ready to start sending payouts on Toga? Let's dive into payouts.

How payouts work

• Beneficiary details - First you need to get the beneficiary details and validate that the details are correct. Validating would increase the chance of your payout succeeding. Also, you should use the get banks API to get the bank code for the beneficiary bank.

• Provide the rate id and address by using the generate a rate endpoint

• Add the appropriate payout type. We currently have three payout types - BANK_TRANSFER, WIRE and MOBILE_MONEY.

• Once, once the actions above are completed you can trigger the create a payout endpoint and complete the transaction.

More on USD payouts

Generally, USD payouts to all countries we support excluding Nigeria fall into three categories, we refer to these are wire types. The three categories are ABA (for American bank accounts), SWIFT and IBAN.

When making a payout, the wire type you specify must be based on which wire type the country you are sending money to falls. Also, this would determine which recipient detail you will provide.

• ABA: Account number, routing number (ABA) and country.

• SWIFT: Account number, routing number (SWIFT / BIC), bank name, city and country.

• IBAN: IBAN, city and country.

You can check coverage to find out which wire type a country falls into.

Here's an example of what the request payload for a payout to Germany would look like.

// Example
// Germany falls into the IBAN wireType
// Payouts to IBAN countries require IBAN, city and country.
{
  "rateId": "string",
  "purpose": "string",
  "type": "WIRE",
  "reference": "string",
  "recipient": {
    "accountNumber": "string",
    "wireType": "IBAN",
    "iban": "string",
    "bankCity": "string",
    "bankCountry": "US"
  },
   "senderDetails": {
    "city": "string",
    "state": "US",
    "country": "US",
    "address": "US",
    "firstName": "string",
    "lastName": "string",
    "postalCode": "string"
  }
}

Note

• For USD payouts, there is no predefined bank list (and bank codes).

• You must transfer funds to the wallet address before you initiate a payout. All payouts where funds aren't transferred to the wallet will fail.