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Transfers enable organizations, businesses and customers move funds efficiently through various processes. This document provides an overview of key transfer operations, including account name enquiry, transaction status checks, business transfers, and organization-wide transactions.
- Name EnquiryWhen sending an account name enquiry request, a 30-digit session ID must be provided. This session ID allows the platform to verify that the beneficiary of a transfer request has been previously validated by the sender. This process reduces the risk of funds being sent to the wrong recipient and mitigates failed transactions, ensuring a smoother transfer experience.
- Check Transaction StatusAfter a transfer has been successfully initiated, it is essential for the organization to have real-time access to confirm its status. This enables tracking of the transaction throughout its processing lifecycle. The transaction status check provides clarity and helps individuals or businesses take necessary actions in case of delays or issues.
- Bulk TransferBulk Transfer allows organizations to initiate multiple transactions in a single request, making it efficient to disburse payments to numerous recipients at once. It streamlines operations, reduces manual effort, and ensures faster processing of high-volume transactions.
- Bulk Transfer Name EnquiryBefore processing multiple payments, it’s important to verify that recipient account details are correct. Bulk Transfer Name Enquiry enables you to validate the account names of multiple beneficiary accounts in one request. This reduces the risk of failed transactions and ensures accuracy.
