Create a Payout

This process allows for the ability for the CUSTOMER ENABLED wallet to complete payouts to other bank accounts using their Virtual Account.

It is possible to create both a payout to themselves (first party) or a payout to another bank account (third party).

When creating a Fiat Payout the following information is necessary; bank account number, bank code, SCAN (also know as a sort code) for GBP payments, and IBAN and BIC for EUR payments.

Note that if an invalid Bank Account or Bank Code are provided the payment will be rejected with an error message returned.

Understanding the workflow of fiat payouts

Fiat payouts progress through various statuses as part of the payout workflow. This document provides a detailed explanation of each status and its role in the process.

Status	Description
PENDING_APPROVAL	Optional. This state is returned if payouts from the wallet require approvals. The payout will remain in this state until all approvals are received. After that, the PROCESSING webhook is emitted. Only relevant for fiat transactions.
PROCESSING	Payouts will remain in this state until a final response has been received from our processing partners.
COMPLETED	Once a payout has been successfully completed from the side of BVNK, the payout will transition to COMPLETED. Note that it is still possible for the funds to be rejected by the beneficiary bank.
FAILED	If for any reason our processing partners are unable to successfully complete the payout, the payout will transition to FAILED, and funds will remain in the merchant's wallet.
CANCELLED	Should the payment be cancelled, then the status will be transitioned to the CANCELLED state. This can occur in scenarios such as when a four-eyes approval is rejected or the request of a four-eyes approval times out. Funds will be returned to the merchants wallet.
RETURNED	Optional. Should the funds be returned after we have received a response from our processing partners, the payout will be marked as returned and the funds will be returned to the merchants wallet.
ON_HOLD	This status is shown when screening takes longer than anticipated.

The following diagram shows the possible transitions between states.