Wire Transfers

To onramp via local bank transfers, it is required to create payment methods through manual bank detail entry.

Creating Payment Methods Via Bank Details

We can pass bank details to the Create Payment Method endpoint.

//US payment method details 
{
  "paymentMethodType": "INTERNATIONAL_TRANSFER",
  "paymentType": "LOCAL_BANK_WIRE",
  "currency": "USD",
  "country": "US",
  "beneficiaryType": "INDIVIDUAL",
  "firstNameOnAccount": "Sally",
  "lastNameOnAccount": "Smith",
  "beneficiaryAddress": "1234 Main St.",
  "beneficiaryAddress2": "",
  "beneficiaryCity": "Los Angeles",
  "beneficiaryPostal": "91604",
  "beneficiaryPhoneNumber": "+15555555555",
  "beneficaryState": "CA",
  "beneficiaryDobDay": 2,
  "beneficiaryDobMonth": 12,
  "beneficiaryDobYear": 1990,
  "accountNumber": "1234567890123",
  "routingNumber": "123412312",
  "accountType": "CHECKING",
  "chargeablePM": false
}

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Account Number

Please note that the accountNumber parameter should be your bank account number, i.e. checking or savings account number. This should not be your Wyre account id.

A payment method must be approved in order to pull funds from it. Once approved, the payment method will transition from PENDING status to ACTIVE. When setting chargeablePM to true, a bank statement upload is required to move the account from AWAITING_FOLLOWUP to PENDING. After a successful review of the bank statement, the status will transition to ACTIVE.

When you create a Payment Method using this API it will return with a status of AWAITING_FOLLOWUP. If you have set chargeablePM to false then the status will remain AWAITING_FOLLOWUP, however, you will be able to make payouts (push) to the payment method.

Bank Document Upload

When adding banks via banking details or when the name on the bank account does not match the name of the User account, Wyre will require a Bank Document Upload

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Document requirements

We require a digital bank statement. Must be within the last 3 months and show a full month of transactions.

Failure Notifications

Local bank transfers are done through the Create Transfer endpoint. A transfer id is generated for every initiated transfer, including bank deposits. You can query the transfer by id to get details from the API regarding bank transfer failures.