SWIFT Payout

A fast way to move funds to a bank account using SWIFT | Enterprise

A Payout can send money from Rapyd to a beneficiary. Use the Swift Transfer payout method, or xx_swift_bank to wire transfer funds to a beneficiary with an international bank account in the SWIFT network.

Common use cases may include:

Wire payout to an international employee's bank account.
Wire payout to a supplier in another country (B2B).

What is Regex?

Regex, is a regular expression that defines the format when type is string. Regex can manage and match characters in strings. Rapyd employs a unique variant of regex. Note the following differences:

A single backslash is treated as matching a backslash as an ordinary character.
A backslash followed by an alphabetic character matches as a string of two characters.
To match a special character such as \n, you must write \\n.

Payout to Bank Account Workflow

Using the Wire payment method (xx_swift_bank) and the corresponding required fields that beneficiaries fill out is described under How it Works.

Note

A Payout requires a sender and a beneficiary as described in Reusing Beneficiary or Sender.

Step 1 - Getting Payout Information

You request to List Payout Methods by Country to get supported payout methods.
Rapyd returns the list of supported payout types.
You call Get Payout Method Required Fields to get required fields to be completed.
Rapyd returns the list of required fields to be passed for processing.

Step 2 - Processing the Payout

You call Create Payout and pass required fields.
Rapyd processes the payout to the bank—and sends a response.
Bank credits the beneficiary’s account.
Rapyd sends notification of completed Payout.

How SWIFT Payouts Works

Prerequisites

To run the examples of this use case, you must create the following ID in your own sandbox:

ewallet - Run Creating a Rapyd Wallet for the company wallet. Use the 'id' you get in the response.

Finding Payout Method Types

For the payout page on your website, you need to find payout method types that match your criteria, such as the payout country and currency.

For that, you'll use List Payout Method Types with the following parameters:

Description of Parameters

Query Parameter	Description
category	Enter bank as the category of the payout method.
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.

List Payout Method Types Request

You ask for a list of all available bank payout method types for transfers in the SWIFT network using GBP .

Request

// Request URL: GET https://sandboxapi.rapyd.net/v1/payout_methods?beneficiary_country=GB&payout_currency=GBP

// Message body absent

List Payout Method Types Response

Let's take a look at the response.

A real response usually lists many payout methods.

Response

{
"payout_method_type": "xx_swift_bank",
"name": "Global SWIFT",
"is_cancelable": 0,
"is_expirable": 0,
"is_location_specific": 0,
"status": 1,
"image": "/checkout/xx_swift_bank.png",
"category": "bank",
"beneficiary_country": "GB",
"sender_country": "*",
"payout_currencies": [
    "GBP"
],
"sender_entity_types": [
    "company"
],
"beneficiary_entity_types": [
    "company",
    "individual"
],
"amount_range_per_currency": [
    {
        "maximum_amount": null,
        "minimum_amount": null,
        "payout_currency": "GBP"
    }
],
"minimum_expiration_seconds": null,
"maximum_expiration_seconds": null,
"sender_currencies": [
    "USD",
    "SGD",
    "SEK",
    "NOK",
    "ISK",
    "HKD",
    "GBP",
    "EUR",
    "DKK",
    "CHF",
    "CAD",
    "AUD"
],
"estimated_time_of_arrival": "An estimated receipt time is not yet available for this payout method"
},

Sender Currencies

The xx_swift_bank payout method has a list of supported sender currencies. When the sender disburses funds to the beneficiary, they can use a number of different supported currencies.

The beneficiary can then accept the funds in the same currency, or in a different currency. If a beneficiary accepts the funds in a different currency from the sender, then FX (foreign exchange) will convert the funds to the desired currency.

The sender currencies for the payout method are listed in the List Payout Method Types response above.

Note: If the payout is created with an unsupported sender currency, the payout will fail.

Supported Sender Currencies SWIFT

USD	GBP
SGD	EUR
SEK	DKK
NOK	CHF
ISK	CAD
HKD	NZD
AUD

Finding Required Fields for the Payout Method Type

You need to find the required fields for the xx_swift_bank payout method type.

For that, you'll use Get Payout Required Fields with the following parameters:

Description of Path Parameters

Path Parameter	Description
payout_method_type	Enter xx_swift_bank as the payout method type.

Description of Query Parameters

Query Parameter	Description
sender_country	Enter FR as the code for France, the sender's country.
sender_currency	Enter EUR as the code for Euros, the sender's currency.
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 'company' as the type of entity for the sender.
beneficiary_entity_type	Enter 'individual' as the type of entity for the beneficiary.
payout_amount	Enter 3000 as the amount received by the beneficiary.

Get Payout Required Fields Request

You ask for the set of required fields for the xx_swift_bank payout method type.

Request

// Request URL: GET https://sandboxapi.rapyd.net/v1/payout_methods/xx_swift_bank/required_fields?sender_country=FR&sender_currency=EUR&beneficiary_country=GB&payout_currency=GBP&sender_entity_type=company&beneficiary_entity_type=individual&payout_amount=3000 

// Message body absent

Get Payout Required Fields Response

Let's take a look at the response.

Response

"status": {
       "error_code": "",
       "status": "SUCCESS",
       "message": "",
       "response_code": "",
       "operation_id": "6f8a3c1d-504f-4b9d-9b60-a83164c3053f"
   },
   "data": {
       "payout_method_type": "xx_swift_bank",
       "sender_currency": "EUR",
       "sender_country": "*",
       "sender_entity_type": "company",
       "beneficiary_country": "GB",
       "payout_currency": "GBP",
       "beneficiary_entity_type": "individual",
       "is_cancelable": 0,
       "is_location_specific": 0,
       "is_expirable": 0,
       "minimum_expiration_seconds": null,
       "maximum_expiration_seconds": null,
       "is_online": null,
       "image": "/checkout/xx_swift_bank.png",
       "status": 1,
       "beneficiary_required_fields": [
           {
               "name": "first_name",
               "regex": "^.{1,20}",
               "is_required": true,
               "type": "string",
               "description": "First name + Last name must not exceed 35 characters"
           },
           {
               "name": "last_name",
               "regex": "^.{1,15}",
               "is_required": true,
               "type": "string",
               "description": "First name + Last name must not exceed 35 characters"
           },
           {
               "name": "address",
               "regex": "^.{1,35}",
               "is_required": true,
               "type": "string",
               "description": "Beneficiary street name ; building number"
           },
           {
               "name": "city",
               "regex": "^.{1,25}",
               "is_required": true,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "state",
               "regex": "^.{1,15}",
               "is_required": false,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "country",
               "regex": "^[A-Z]{2}$",
               "is_required": true,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "postcode",
               "regex": "^.{1,10}",
               "is_required": false,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "account_number",
               "regex": "^.{1,34}$",
               "is_required": true,
               "type": "string"
           },
           {
               "name": "bic_swift",
               "regex": "^.{8,11}$",
               "is_required": true,
               "type": "string"
           }
       ],
       "sender_required_fields": [
           {
               "name": "company_name",
               "regex": "^.{1,35}",
               "is_required": true,
               "type": "string"
           },
           {
               "name": "address",
               "regex": "^.{1,35}",
               "is_required": true,
               "type": "string",
               "description": "Beneficiary street name ; building number"
           },
           {
               "name": "city",
               "regex": "^.{1,25}",
               "is_required": true,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "state",
               "regex": "^.{1,15}",
               "is_required": false,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "country",
               "regex": "^[A-Z]{2}$",
               "is_required": true,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "postcode",
               "regex": "^.{1,10}",
               "is_required": false,
               "type": "string",
               "description": "The combined length of city+state+country+postcode must not exceed 32 characters"
           },
           {
               "name": "purpose_code",
               "regex": "investment_income|salary|insurance_payments|computer_services|educational_services|payment_of_goods|payment_of_services|Inward_remittance",
               "is_required": false,
               "type": "string",
               "allowed_values": [
                   "investment_income",
                   "salary",
                   "insurance_payments",
                   "computer_services",
                   "educational_services",
                   "payment_of_goods",
                   "payment_of_services",
                   "Inward_remittance"
               ],
               "description": "Required only for sending to - China, India, South Korea, Philippines, Malaysia"
           }
       ],
       "payout_options": [
           {
               "name": "beneficiary_country",
               "regex": "^[A-Z]{2}$",
               "is_required": true,
               "type": "string",
               "description": "Country where the beneficiary account is held"
           },
           {
               "name": "description",
               "regex": "^.{1,140}",
               "is_required": true,
               "type": "string",
               "description": "Payout purpose description"
           },
           {
               "name": "statement_descriptor",
               "regex": "^.{1,140}",
               "is_required": false,
               "type": "string",
               "description": "Information to be displayed in the beneficiary statement"
           }
       ],
       "minimum_amount": null,
       "maximum_amount": null,
       "batch_file_header": "payout_method_type,sender_currency,payout_currency,beneficiary.first_name,beneficiary.last_name,beneficiary.address,beneficiary.city,beneficiary.state,beneficiary.country,beneficiary.postcode,beneficiary.account_number,beneficiary.bic_swift,sender.company_name,sender.address,sender.city,sender.state,sender.country,sender.postcode,sender.purpose_code"
   }

The data section of this response shows required fields for xx_swift_bank.

You will use the required fields for the 'beneficiary' and 'sender' objects when you ask Rapyd to process the payout:

Description of Fields

Beneficiary	Sender
first_name	company_name
last_name	address
address	city
city	country
country	purpose code (See Purpose Code .)
postcode
account_number
bic_swift

Tip

Use Validate Beneficiary to check the beneficiary fields before you request the payout. See Validating Beneficiary Details .

Required Fields By Country

The following tables list the requirements for the required fields, specific to each country.

The fields used in the xx_swift_bank payout method are standardized. But each country has different requirements for the payout required fields information.

Field Length Limitations

The beneficiary and sender have a character limit for the following fields: city, state, country, and postcode. The combined length of the fields can use a maximum of 32 characters for the sender, and a maximum of 32 characters for the beneficiary.

Supported Characters

The supported characters for the first_name , last_name, address, and description fields are:

a-z,
A-Z,
0-9
Special characters: / -? : ( ) . , ' +
space character

The following tables list the requirements for the required fields, specific to each country.

United Kingdom (GB)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Use an IBAN for the beneficiary `account_number` field
beneficiary_required_fields	bic_swift	Use BIC 11 (including branch details) for the beneficiary `bic_swift` field
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is not required for this country
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment. Up to 35 characters.
payout_options	statement_descriptor	This field is not required for this country

Singapore (SG)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Enter the account number
beneficiary_required_fields	bic_swift	Enter the BIC information
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is not required for this country
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment. Up to 35 characters.
payout_options	statement_descriptor	This field is not required for this country

India (IN)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary. This field can be left empty if the beneficiary only has one name.
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Cannot contain dashes, spaces, or any non-standard characters.
beneficiary_required_fields	bic_swift	Enter the BIC information.
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is required for this country. See Purpose Code
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment.
payout_options	statement_descriptor	The Legal Entity Identifier (LEI) must be present for transactions above 500,000 INR for both the beneficiary and sender. Format: ‘Rem LEI XXXXXXXXX Ben LEI XXXXXXXX’.

Thailand (TH)

Note

Transfers equal to or greater than THB 5 million require supporting documentation indicating the purpose and exact amount of each payment. Supporting documentation includes a copy of the invoice or payroll request, or a letter on signed letterhead describing the reason for transfer.

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Enter the account number
beneficiary_required_fields	bic_swift	Enter the BIC information
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is not required for this country
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment. Up to 35 characters.
payout_options	statement_descriptor	This field is not required for this country

Hong Kong (HK)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Enter the account number
beneficiary_required_fields	bic_swift	Enter the BIC information.
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is not required for this country
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment. Up to 35 characters.
payout_options	statement_descriptor	This field is not required for this country

Malaysia (MY)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Enter the account number
beneficiary_required_fields	bic_swift	Enter the BIC information
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is required for this country. See Purpose Code
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment. Up to 15 characters.
payout_options	statement_descriptor	This field is not required for this country

Brazil (BR)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Use an IBAN for the beneficiary `account_number` field if available
beneficiary_required_fields	bic_swift	Enter the BIC information
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is not required for this country
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment. Up to 35 characters.
payout_options	statement_descriptor	This field is not required for this country

Switzerland (CH)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Use an IBAN for the beneficiary `account_number` field if available
beneficiary_required_fields	bic_swift	Enter the BIC information
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is not required for this country
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment
payout_options	statement_descriptor	This field is not required for this country

South Korea (KR)

Object	Parameter	Description
beneficiary_required_fields	first_name	Enter the first name of the beneficiary
beneficiary_required_fields	last_name	Enter the last name of the beneficiary
beneficiary_required_fields	address	Enter the address of the beneficiary
beneficiary_required_fields	city	Enter the city of the beneficiary
beneficiary_required_fields	country	Enter the country of the beneficiary
beneficiary_required_fields	postcode	Enter the postcode of the beneficiary
beneficiary_required_fields	account_number	Enter the account number
beneficiary_required_fields	bic_swift	Enter the BIC information
sender_required_fields	company_name	Enter the company name of the sender
sender_required_fields	address	Enter the address of the sender
sender_required_fields	city	Enter the city of the sender
sender_required_fields	country	Enter the country of the sender
sender_required_fields	purpose_code	This field is required for this country. See Purpose Code
payout_options	beneficiary_country	Enter the country of the beneficiary
payout_options	description	Enter the purpose of the payment. Up to 15 characters.
payout_options	statement_descriptor	This field is not required for this country

Requesting a Payout

Your company is the sender of the payout and the employee is the beneficiary who receives the payout.

When your payroll manager requests a payout from the company's eWallet to an employee's bank account, you ask Rapyd to process the payout.

For that, you'll use Create Payout with the following parameters:

Description of Body Parameters

Body Parameter	Description
beneficiary	Enter a 'beneficiary' object that has the following fields: `first_name` - Henry `last_name` - Tan `account_number` - 888449956988 `aba` - Enter the ABA routing number: 573675777
beneficiary_country	Enter GB as the code for the United Kingdom, the beneficiary's country.
beneficiary_entity_type	Enter 'individual' as the type of entity for the beneficiary.
description	Enter 'Test Payout - bank to wallet' as the description of the payout transaction.
ewallet	Enter the wallet 'id' that you received when you created the company wallet in your sandbox. For purposes of this use case lesson, we are using ewallet_27a63119c130f95a6ec59f86c93f28f8, which is the company wallet ID we created in our sandbox.
payout_amount	Enter 3000 as the amount received by the beneficiary.
payout_currency	Enter GBP as the code for British Pound sterling, the currency received by the beneficiary.
payout_method_type	Enter xx_swift_bank as the payout method type.
sender	Enter a 'sender' object that has the following fields:`company_name` - Enter the Business Name`purpose code` - Enter salary
sender_currency	Enter EUR as the code for Euros, the sender's currency.
sender_entity_type	Enter 'company' as the type of entity for the sender.
sender_country	Enter FR as the code for France, the sender's country.

Create Payout Request

You ask Rapyd to process the payout of 3,000 British Pound Sterling to the employee's UK bank account.

Request

// Request URL: POST https://sandboxapi.rapyd.net/v1/payouts

// Message body: 
{
   "ewallet": "ewallet_27a63119c130f95a6ec59f86c93f28f8",
   "merchant_reference_id": "Test-Cash-8888",
   "payout_amount": 3000,
   "payout_method_type": "xx_swift_bank",
   "sender_currency": "EUR",
   "sender_country": "FR",
   "beneficiary_country": "GB",
   "payout_currency": "GBP",
   "sender_entity_type": "company",
   "beneficiary_entity_type": "individual",
   "beneficiary": {
       "payment_type": "regular",
       "address": "1 Main Street",
       "city": "Anytown",
       "country": "US",
       "first_name": "Henry",
       "last_name": "Tan",
       "state": "NY",
       "phone_number": "+145434653466",
       "postcode": "10101",
       "aba": "573675777",
       "account_number": "888********",
       "identification_type": "work_permit",
       "identification_value": "asdasd123123"
   },
    "sender": {
           "company_name" : "Test Sender 123",
           "city": "Anytown",
           "state": "NY",
           "phone_number": "+145434653466"
       },
   "description": "Test payout - bank to wallet",
   "statement_descriptor": "Test txn",
   "metadata": {
       "merchant_defined": true
   }
}

Create Payout Response

Let's take a look at the response.

Response

{
   "status": {
       "error_code": "",
       "status": "SUCCESS",
       "message": "",
       "response_code": "",
       "operation_id": "4a6e569e-0ed5-4a5c-a102-a47931cf248e"
   },
   "data": {
       "id": "payout_c87991aabb7266e4dcb8fc6f2a68505c",
       "payout_type": "bank",
       "payout_method_type": "xx_swift_bank",
       "amount": 3000,
       "payout_currency": "GBP",
       "sender_amount": 3527.09,
       "sender_currency": "EUR",
       "status": "Confirmation",
       "sender_country": "FR",
       "sender": {
           "country": "FR",
           "entity_type": "company",
           "name": "Test Sender 123",
           "city": "Anytown",
           "state": "NY",
           "phone_number": "+145434653466",
           "company_name": "Test Sender 123",
           "currency": "EUR"
       },
       "beneficiary_country": "GB",
       "beneficiary": {
           "last_name": "Tan",
           "first_name": "Henry",
           "country": "US",
           "entity_type": "individual",
           "address": "1 Main Street",
           "name": "Henry Tan",
           "postcode": "10101",
           "city": "Anytown",
           "state": "NY",
           "phone_number": "+145434653466",
           "account_number": "888********",
           "currency": "GBP",
           "identification_type": "work_permit",
           "identification_value": "asdasd123123",
           "aba": "573675777",
           "payment_type": "regular"
       },
       "fx_rate": 0.85055905,
       "instructions": {},
       "ewallets": [
           {
               "ewallet_id": "ewallet_27a63119c130f95a6ec59f86c93f28f8",
               "amount": 3527.09,
               "percent": 100
           }
       ],
       "metadata": {
           "merchant_defined": true
       },
       "description": "Test payout - bank to wallet",
       "created_at": 0,
       "payout_fees": null,
       "expiration": null,
       "merchant_reference_id": "Test-Cash-8888",
       "paid_at": null,
       "identifier_type": null,
       "identifier_value": null,
       "error": null,
       "paid_amount": 0,
       "statement_descriptor": "Test txn",
       "gc_error_code": "NOT_IMPLEMENTED"
   }
}

Besides parameter values that you entered in the request, the data section of this response shows:

The id of the 'payout' object is payout_c87991aabb7266e4dcb8fc6f2a68505c. Webhooks that relate to this payout refer to this ID.
The payout_type is bank.
Under sender: Fields of the 'sender' object are listed.
Under beneficiary: Fields of the 'beneficiary' object are listed.
The status is Confirmation. This means that the 'payout' object is waiting for confirmation of the FX rate.

Purpose Code

The purpose code describes the nature of the payout, or what the payout is for. Here are the possible values for the purpose_code field:

Field	Value
purpose_code	investment_income
purpose_code	salary
purpose_code	insurance_payments
purpose_code	computer_services
purpose_code	educational_services
purpose_code	payment_of_goods
purpose_code	payment_of_services
purpose_code	Inward_remittance

Purpose Code Required Countries

The following countries require a purpose code when making a payout:

China
India
South Korea
Philippines
Malaysia

Closing the Transaction

Simulating Payout Completion

The sandbox does not directly simulate the action of the beneficiary receiving the payout funds. You can simulate this action with the procedure described in Complete Payout. For this, you will need the payout ID and payout amount that you generated in your sandbox.

When a payout completion is simulated, Rapyd sends a webhook. Configure your system to receive webhooks with the procedure described in Defining a Webhook Endpoint.

After you simulate that the employee's bank has accepted the transfer, Rapyd sends you Webhook - Payout Completed. The webhook confirms that the payout was completed.

In this section:

Documentation

SWIFT Payout

What is Regex?

Payout to Bank Account Workflow

Note

Step 1 - Getting Payout Information

Step 2 - Processing the Payout

How SWIFT Payouts Works

Prerequisites

Finding Payout Method Types

List Payout Method Types Request

List Payout Method Types Response

Sender Currencies

Finding Required Fields for the Payout Method Type

Get Payout Required Fields Request

Get Payout Required Fields Response

Tip

Required Fields By Country

Field Length Limitations

Note

Requesting a Payout

Create Payout Request

Create Payout Response

Purpose Code

Purpose Code Required Countries

Closing the Transaction

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