Transfer Funds between Financial Accounts

Overview

You can transfer funds between Highnote accounts in real time. Transferring funds between Highnote accounts is used for various use cases:

• Rewards redemptions: Transfer funds from your product funding account to an account holder's financial account.
• Internal company transfers: Set up intra-company transfers between financial accounts for the same business account holder.
• Peer-to-peer transfers: You can enable peer-to-peer transfers of funds from one account holder's financial account to another.

To enhance funds transfer management and organization, Highnote offers transfer purposes. For available transfer purposes, see TransferStatus in the API Reference.

Initiate internal transfer

Use the following mutation to initiate a transfer between Highnote financial accounts:

InitiateTransferBetweenFinancialAccounts

Query

mutation InitiateTransferBetweenFinancialAccounts(
  $input: InitiateTransferBetweenFinancialAccountsInput!
) {
  initiateTransferBetweenFinancialAccounts(input: $input) {
    __typename
    ... on InterFinancialAccountTransfer {
      id
      status
      statusReason
      createdAt
      updatedAt
      memo
      purpose
      amount {
        value
        currencyCode
      }
      ledgers {
        name
      }
    }
    ... on UserError {
      errors {
        code
        errorPath
      }
    }
    ... on AccessDeniedError {
      message
    }
  }
}

Variables

{
  "input": {
    "toFinancialAccountId": "FINANCIAL_ACCOUNT_ID",
    "fromFinancialAccountId": "FINANCIAL_ACCOUNT_ID",
    "purpose": "GENERAL",
    "memo": "p2p",
    "amount": {
      "value": 10000,
      "currencyCode": "USD"
    }
  }
}

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Result

{
  "data": {
    "initiateTransferBetweenFinancialAccounts": {
      "__typename": "InterFinancialAccountTransfer",
      "id": "ACCOUNT_TRANSFER_ID",
      "status": "COMPLETED",
      "createdAt": "2023-02-23T03:40:07.230Z",
      "updatedAt": "2023-02-23T03:40:07.230Z",
      "memo": "p2p",
      "purpose": "GENERAL",
      "amount": {
        "value": 1000,
        "currencyCode": "USD"
      }
    }
  }
}

Check internal transfer status

You can query and display the status of internal transfers between financial accounts. The InitiateTransferBetweenFinancialAccounts mutation has the following statuses:

Status	Description
PENDING	The platform is currently validating and executing the transfer.
COMPLETED	The platform has completed the transfer.
FAILED	The platform was not able to complete the transfer. See Failed Status Values for more information.

Failed status values

If a transfer returns a FAILED status, it returns a statusReason code, with one of the following values:

Status Reason Code	Description
ACCOUNT_CLOSED	The associated account is closed.
ACCOUNT_NOT_FOUND	The account was not found.

Use the following query to check the status of an internal transfer:

CheckAccountTransferStatus

Query

query CheckAccountTransferStatus($id: ID!) {
  node(id: $id) {
    __typename
    ... on InterFinancialAccountTransfer {
      id
      status
      statusReason
    }
  }
}

Variables

{
  "id": "TRANSFER_ID"
}

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Result

{
  "node": {
    "__typename": "InterFinancialAccountTransfer",
    "id": "TRANSFER_ID",
    "status": "COMPLETED",
    "statusReason": null
  }
}