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Banking Guide

Overview​

The Virtual Bank Account module on the BlockWyre platform provides users with the ability to receive deposit instructions they can share to make bank transfers. This document details the process of using virtual bank accounts, from obtaining deposit instructions to transaction notification.

Virtual Bank Account​

Obtaining Deposit Instructions​

  • Action: The account holder requests deposit instructions for their account.
  • Endpoint: GET /api/v2/banking/deposit-instructions/{accountId}
  • Response: Deposit instructions including the bank account number and routing number.

Making a Bank Transfer​

  • Action: The account holder initiates a bank transfer from their bank using the provided deposit instructions.
  • Resulting State: The transfer is initiated from the account holder's bank to the virtual bank account provided by BlockWyre.

Transfer Detection​

  • Action: Once the incoming transaction is detected in the virtual bank account, the bank_transaction_received webhook is sent.
  • Webhook: bank_transaction_received
  • Resulting State: The transfer is detected, and the account balance is updated.

Transaction Monitoring​

  • Action: BlockWyre begins the process of monitoring the transaction with the banking entity.
  • Resulting State: The transaction is monitored to ensure its successful completion.

Transaction Status Update​

  • Action: Each transaction status update is notified with the bank_transaction_status_updated webhook.
  • Webhook: bank_transaction_status_updated
  • Resulting State: The transaction status is updated and notified to the account holder.

Sequence Diagram​

Support and Resources​

If you need assistance or have any questions, our support team is here to help. You can contact our support team at support@blockwyre.com.

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We are excited to have you on board and look forward to seeing how you leverage BlockWyre's powerful tools to enhance your financial operations. Happy integrating!