Bank Payouts

This section helps you get started with executing the deposit from your balance into the designated bank account.

Your customers will have verified themselves already, this just functions as the disbursement mechanism.

For the most efficient operations

  • Have customers store a balance on your platform

  • Maximum customer disbursement is no larger than their current balance

  • Optimize your feedback loop between the rate being issued to your customer, and the customer confirming to proceed with the transfer.*

While this may seem like something fairly obvious, some people prefer to provide the quote to the customer and then wait for the customer funds to hit their account and then initiate the transfers. Doing this is going to expose your business to exchange rate fluctuation, operational headaches, and cashflow hurdles.

Brazil

Payout Options

Banking rails only

Banking Coverage

  • Caixa Economica Federal
  • Bradesco
  • Banco do Brasil
    - All other banks

Delivery Times

Caixa Economica Federal, Bradesco, & Banco do Brasil:

  • 1 business day to affiliate the account
  • 30 minutes to 24 hours to complete the transactions

All other banks*:

  • 1 business day to affiliate the account
  • 30 minutes to 24 hours to complete the transaction if sent before 3pm and above R$ 250, (otherwise next day)

Limits

For Brazilian banks, we have minimum deposits that users can make. The specific amount depends on the institution:

  • Banco do Brasil - 10 BRL
  • Bradesco - 10 BRL
  • Caixa - 10 BRL
  • Other banks - 50 BRL

Please note that if you attempt to deposit an amount less than the above minimums, your payment will not be processed.

Branch Codes

You may format the branch code 1 of 2 ways:

For Banco do Brasil (bank code 001) and Caixa (bank code 104): "####-#" - where the first 4 digits are the branch number and the final digit is the branch check digit. Example: "3325-1"

For all other banks: "####" - a 4 digit branch number. Example "3325"

China

Payout Options

Banking Rails

Banking Coverage

All UnionPay supported banks

Delivery Time

24 hours

Personal/Individual Limits

Bank Accounts

  • $50,000 per-year maximum
  • Above RMB 200

Corporation/Business Limits

Bank Accounts

  • Above RMB 200

Mexico

Payout Options

SPEI - SPEI is Mexico’s lightning fast and inexpensive inter-bank transfer system (akin to SEPA in Europe, and vastly superior to ACH). All bank accounts in Mexico can be identified by their special 18-digit SPEI account number, otherwise known as a ‘CLABE’. Transfers executed via SPEI are typically concluded within a few seconds (within banking hours). Debit Cards - Send tansfers directly to debit cards from any mexican bank. Note that the “institution_code” is obtained from the bank_codes endpoint.

Banking Coverage

See entire bank list here: https://en.wikipedia.org/wiki/CLABE

Delivery Time

Triggers a SPEI + DEBIT CARD withdrawal from your account. These withdrawals are immediate during banking hours for some banks (M-F 9:00AM - 5:00PM Mexico City Time), 24 hours for others.

Limits

Minimum is $50MXN, no maximum currently.