v1

latestOpenAPI 3.0.02026-07-26280204.9 KB

Payout Beneficiary

New Payout Beneficiary

Add a beneficiary to transfer funds. The beneficiary can be an individual or a company, serving as the receiver of funds. Fill in the required fields provided by the Get Required Fields by Payout Method API.

Beneficiary will be activated after 24 hours of creation.

The body parameters listed below are exhaustive and represent all the beneficiary details accepted by Finmo, which vary depending on the market.

Since beneficiary parameters may differ by market, it is recommended to create a beneficiary token when intending to send funds to one's own account.

post/payout-beneficiary

Request body

type'company' | 'individual' required

type can be either 'individual' or 'company' based on the beneficiary

beneficiary_namestring required

Display Name of the payout beneficiary

currencystring

Beneficiary Currency

descriptionstring

Description of Transaction

bank_countrystring

Bank Country

bank_namestring

Name of the Bank

account_numberstring

Account Number

bsbstring

BSB (AU specific)

bic_swiftstring

Swift Code

intermediary_bic_swiftstring

We strongly recommend to provide an intermediary bank for all wire transfers using SWIFT to banks and non-banking financial institutions in Europe, Africa and USA. This will reduce delays in crediting funds with beneficiary especially if its to a non-banking FI.

ibanstring

IBAN (EU & UK specific)

abastring

ABA Routing Number (US Specific)

sort_codestring

Sort Code (UK & IE specific)

pay_idstring

NPP PayID (AU Specific)

pay_id_typestring

Mention the type of PayID,It takes values ["EMAIL, PHONE, ORG, ABN"]

ifscstring

IFSC code

branch_codestring

Branch Code

bank_codestring

Bank Code

organization_reference_idstring

A reference you can later use to identify this payment, such as an order number. Can only be alphanumeric and must be unique for Benefit.

metadataobject

Custom Data

proxy_typestring

Proxy Type (SG Specific)

proxy_valuestring

Proxy Value (SG Specific)

Example request

{
  "aba": 26009593,
  "account_number": "13719713158835300",
  "bank_code": "",
  "bank_country": "",
  "bank_name": "",
  "beneficiary_name": "Beneficiary Name",
  "bic_swift": "",
  "intermediary_bic_swift": "",
  "branch_code": "",
  "bsb": "484799",
  "company": {
    "address_city": "Chatham",
    "address_country": "US",
    "address_line1": "97 Main Street Second Floor  NJ 07928",
    "address_line2": "",
    "address_state": "New Jersey",
    "address_zip_code": 7928,
    "company_email": "",
    "incorporation_country": "",
    "name": "Finmo",
    "phone_country_code": "",
    "phone_number": "",
    "registration_number": "",
    "identification_type": "",
    "identification_value": ""
  },
  "individual": {
    "address_city": "",
    "address_country": "",
    "address_line1": "",
    "address_line2": "",
    "address_state": "",
    "address_zip_code": "",
    "country_of_residence": "",
    "dob": "",
    "email": "",
    "first_name": "",
    "identification_custom_type": "",
    "identification_type": "",
    "identification_value": "",
    "last_name": "",
    "nationality": "",
    "phone_country_code": "",
    "phone_number": ""
  },
  "currency": "",
  "description": "description",
  "iban": "",
  "ifsc": "",
  "metadata": {},
  "organization_reference_id": "org_123",
  "pay_id": "",
  "pay_id_type": "EMAIL",
  "sort_code": "",
  "type": "",
  "proxy_type": "",
  "proxy_value": "",
  "payout_beneficiary_controls": {
    "is_payout_beneficiary_on_name_mismatch_allowed": false
  }
}

Response

Created

All 28 operations