Funding Wallets for Broker API allows you to create a dedicated wallet with a distinct account number for each user to deposit funds into.

Deposit Flow

1. If funding wallet has not yet been created, create a funding wallet
2. Retrieve funding wallet details
3. Retrieve funding details for the funding wallet
4. Create a deposit request
   1. In sandbox, this can be simulated via this endpoint
   2. In production, customer initiates a deposit from the external bank to the funding details from #3
5. Check the status of transfers

Withdrawal Flow

1. If recipient bank has not yet been created, create a recipient bank
   1. Do note that depending on the country and beneficiary, the required fields might differ.
2. Retrieve recipient bank details
3. Create a withdrawal request
4. Check the status of transfers

Statuses and Descriptions

The table below details the possible statuses and their descriptions. Transfers cannot be canceled, and complete, rejected, failed are terminal statuses.

You can read more in this blog post and our FAQs.

FAQ

What local currencies are supported?

The list can be found here. For these local currencies, you can send a swift wire in that local currency for it to be converted to USD. You can also withdraw in these local currencies via a swift wire.

What regions are supported for local rail deposits?

The list can be found here. For these regions, local transfers can be converted to USD.

What regions are supported for local rail withdrawals?

The list can be found here. For these regions, USD can be converted to local currency and paid out locally.

What regions are supported for deposits to Funding Wallets?

The list can be found here. For these regions, we can support deposits via both local rails and swift wires. If a region is not listed here, that means that Currency Cloud (our partner) does not accept deposits from that region due to their own internal risk rating of that region.