Using TabaPay Push to Account, you can deliver payouts to a destination bank account. TabaPay will utilize the relevant local funds transfer scheme/network to complete the transaction.
- Sender initiates a transfer to the recipient.
- TabaPay customer initiates a payout request (using Create Transaction API), with Sender and Recipient details, including Recipient’s account information to TabaPay.
- TabaPay receives the payout request. Depending on the Recipient’s country and other routing logic, TabaPay routes the request message to the Recipient's Financial Institution using the appropriate rails for the transaction.
- Once the networks completes the payout out to the Recipient's Financial Institution, they acknowledge the request back to TabaPay with a transaction payout status and estimated posting date (instant, if it's available).
- TabaPay responds back to our customer with this acknowledgement.
- TabaPay generates and sends end of day settlement and transaction level reports to our customers, based on all of their transactions (e.g., purchases, OCT, payouts) processed in the settlement window.
Good Funds Model
TabaPay push-to-account payments follows a good funds model, which means that once the transaction is successfully completed, the funds are treated as good funds. Clients are not permitted to initiate reversals (via adjustment transactions) of push-to-account to resolve processing errors or exceptions.
International money transfers and disbursements using local bank transfer methods, P2P, Account-to-Account payments including brokerages, money transfers across accounts within a neo-bank, cash or check deposits to an account.
Updated over 1 year ago