Bank Payout United Kingdom
Disburse funds directly to a bank account. | Enterprise
gb_fps_bank is a new bank payout method type via UK Faster Payments, that is used for payouts in the United Kingdom. A sender can disburse funds into a beneficiary’s bank account in the United Kingdom. This payout method supports several banks in the region and allows the beneficiary to be paid in the country’s local currency.
The benefits for the user include the ability to create real-time payouts through local bank transfers and disburse funds into United Kingdom bank accounts.
You need to find the required fields for each payout method type.
For that, you'll use Get Payout Required Fields. Enter gb_fps_bank as the value for the payout_method_type path parameter.
Use Create Payout with the following parameters:
Create Payout Request Parameters
Body Parameter | Description |
ewallet | Enter the wallet 'id' that you received when you created the company wallet in your sandbox. |
payout_amount | Enter 100 as the amount received by the beneficiary. |
payout_method_type | Enter gb_fps_bank as the payout method type. |
sender_currency | Enter GBP as the code for British Pound Sterling, the sender's currency. |
sender_country | Enter GB as the code for the United Kingdom, the sender's country. |
beneficiary_country | Enter GB as the code for the United Kingdom, the beneficiary's country. |
payout_currency | Enter GBP as the code for British Pound Sterling, the currency received by the beneficiary. |
sender_entity_type | Enter ‘individual’ as the type of entity for the sender. |
beneficiary_entity_type | Enter ‘individual’ as the type of entity for the beneficiary. |
beneficiary | Enter a
|
sender | Enter a
|
description | Enter ‘salary payout - wallet to bank account’ as the description of the payout transaction. |
payout_options | Enter a
|
Create Payout describes the fields in the response.
Details | Description |
Payout Method Category | bank |
Payout Request String | POMT = gb_fps_bank |
Country | United Kingdom |
Sender Currency | USD, ISK, GBP, EUR, SGD, HKD, AUD |
Transaction Limits | Minimum / transaction: 1.00 GBP Maximum / transaction: 999,999 GBP |
Settlement Timeframe | Real-time |