Transfer Types

When you create a transfer, Otim automatically determines the transfer type based on the destination you provide.

Book transfer

A book transfer moves funds between two Accounts on the same Platform. These settle instantly with no fees.

{
  "sourceAccountId": "acc_01...",
  "destinationAccountId": "acc_02...",
  "amount": "100.00"
}

Provide destinationAccountId to create a book transfer.

Wire transfer

A wire transfer sends funds to an external bank account via a Counterparty. These are subject to standard processing times for the destination banking network.

{
  "sourceAccountId": "acc_01...",
  "counterpartyId": "cpty_01...",
  "amount": "500.00",
  "currency": "USD"
}

Provide a counterpartyId that has type bank_account to create a wire transfer.

On-chain transfer

An on-chain transfer sends funds to an external wallet via a Counterparty. These settle once the transaction is confirmed on the destination chain.

{
  "sourceAccountId": "acc_01...",
  "counterpartyId": "cpty_02...",
  "amount": "250.00"
}

Provide a counterpartyId that has type wallet to create an on-chain transfer.

Transfer statuses

Status	Description
`pending`	The transfer has been created and is queued for processing.
`processing`	The transfer is actively being processed.
`completed`	The transfer has settled successfully.
`failed`	The transfer failed. Check the transfer details for more information.
`cancelled`	The transfer was cancelled before it was processed.

Core Objects

API

SDK

Protocol

Book transfer

Wire transfer

On-chain transfer

Transfer statuses

​Book transfer

​Wire transfer

​On-chain transfer

​Transfer statuses

Book transfer

Wire transfer

On-chain transfer

Transfer statuses