Ryft supports the transfer of funds between Main Accounts and Sub-Accounts through the use of our Transfer API. This feature provides flexibility in managing how and when funds are distributed among accounts.
This way, instead of funds being automatically routed to Sub-Account balances, they can be initially routed and held in the Main Account. These funds can then be distributed to specific Sub-Accounts at a later time using the Transfer API. This processing model provides greater control over when and how funds are moved to the Sub-Accounts.
Transfers can be useful for various scenarios, such as:
- Settling Balances: Moving funds owed to a Sub-Account that were initially allocated to the Main Account balance.
- Recouping Losses: Transferring funds back to the Main Account from a Sub-Account to cover chargebacks or refunds, if you determine that the Sub-Account is responsible.
- Payout Management: Managing payouts to Sub-Accounts by transferring funds to them when dictated by your business logic.
Please note that Transfers are instantaneous and free of charge. This is because they are internal movements of funds within the Ryft system and do not involve external payment networks.
Transfers can only be initiated via the Transfer API which allows you to specify the source and destination accounts, the amount to be transferred, and any relevant metadata.
At present, transfers can only be made between the Main Account and one Sub-Account at a time. Transfers between two Sub-Accounts or bulk transfers are not supported.