Wires

Demo

Accepting Wire Payments

Wire payments allow customers to transfer funds directly from their bank to Coinflow for settlement to the merchant’s account. Wire payments typically settle T+1 business day - funds are only sent to the merchant after Coinflow receives them.

Flow of Funds for Wire Payments

To complete a wire payment, the customer must:

1. Add a valid bank account
2. Provide a valid wire routing number and the raw bank account number (not a Plaid tokenized number)
3. Send the wire.
   The customer must follow instructions in their banking app to send funds to Coinflow. Funds usually arrive within 1 business day.
4. Wait for settlement
   Once Coinflow receives the wire, settlement is sent to the merchant.

Account Number Requirement

When initiating a wire payment, the account_number must be the customer’s raw bank account number. Plaid tokenized account numbers are not accepted. If a returning customer’s saved account is missing the raw account number (or wire routing number), the API will respond with a 412 status and indicate which fields are required via accountNumberRequired and wireRoutingNumberRequired flags. Your integration must prompt the customer for these details and re-submit the request.

Important Notes

Wire payments are valid for 3 business days. After expiration, it is the merchant’s responsibility to notify customers that sending wires after this time can result in a return fee. Wires sent after expiration may incur return fees, as outlined in the Master Services Agreement (MSA), which cannot be reversed.