How do I execute an instant funding transfer?

Learn how to execute fiat instant funding transfers

Instant funding

The Cybrid Platform offers an instant funding capability to accelerate the settlement of ACH/EFT fiat funding deposit transfers.

To use this feature, partners pre-fund their bank-level fiat account.  When an instant funding deposit transfer is submitted by a customer, the fiat amount is book transferred from the partner's pre-funded fiat bank-level account to the customer's fiat account.

When the customer's ACH debit settles on the Cybrid Platform, the funds are deposited in the partner's pre-funded fiat bank-level account to reimburse for the instant funding amount.

With this feature enabled, partners can offer instant fiat settlement to their customers to improve user experiences within our partner's applications. 

Steps

To pre-fund your bank-level fiat account, please reach out to the partner success team. 

Once this pre-funding is in place, here are the steps to execute an instant funding transfer:

• Create a quote using the POST /api/quotes endpoint
  • Provide the "funding" value in the product_type parameter
  • Provide the "USD" value in the asset parameter
  • Provide the "deposit" value in the side parameter
  • Provide the customer_guid parameter
  • Provide that amount in the receive_amount parameter (e.g. $1 USD)

{
  "product_type": "funding",
  "asset": "USD",
  "side": "deposit",
  "customer_guid": "<customer_guid>",
  "receive_amount": 100
}

• Create a transfer using the POST /api/transfers endpoint
  • Provide the "instant_funding" value in the transfer_type parameter
  • Provide the quote_guid value from the quote created above
  • Provide the external_bank_account_guid of the destination customer fiat account

{
  "transfer_type": "instant_funding",
  "quote_guid": "<quote_guid>",
  "external_bank_account_guid": "<external_bank_account_guid>"
}

• Once executed, you should immediately see the instant funding transfer amount reflected in the platform_available of the partner bank-level fiat account and the customer fiat account
• The instant funding transfer state will progress immediately to "complete"