Transfers Overview
Qolo's transfer system enables secure movement of funds between accounts, cards, and external financial instruments. This guide introduces you to the core concepts and capabilities of our transfer system.
What are Transfers?
Transfers on the Qolo platform are secure transactions that move funds between different financial endpoints. These can include:
- Account-to-account transfers
- Account loads and unloads
- Transfers to/from external bank accounts
- Transfers to/from external Cards
Transfer Components
1. Source and Destination
Every transfer requires:
- A valid source of funds
- A designated destination
- Appropriate permissions for both endpoints
2. Transfer Types
Common transfer types include:
| Type | Description |
|---|---|
ACCOUNTTOACCOUNT | Internal account transfers to move funds from one Qolo account to another. |
PARTNERTOCARD | Transfer funds from the client funding account to an account through a Qolo card reference. |
CARDTOPARTNER | Transfer funds from an a Qolo account (referenced through a card) back to the client funding account. |
CARDTOPARTNER_UNLOADTOZERO | Transfer entire funds from an a Qolo account (referenced through a card) back to the client funding account. |
ACCOUNTTOBANK | Send funds from a Qolo account to an external bank associated with the same Person. |
BANKTOACCOUNT | Pull funds to a Qolo account from an external bank associated with the same Person. |
ACCOUNTTOCCDC | Move funds from a Qolo account to an external credit/debit card. |
CCDCTOACCOUNT | Add funds to a Qolo account from an external credit/debit card. |
Best Practices
-
Validation
- Verify account status before transfers
- Validate transfer amounts
- Check processing windows
-
Error Handling
- Implement retry logic
- Monitor transfer status
- Process failure notifications
-
Reconciliation
- Track all transfers
- Maintain audit logs
- Regularly reconcile accounts
Next Steps
- Review the ACH Transfer Guide
- Explore API Documentation
- Set up Webhooks for notifications
Need Help?
Contact our support team for:
- Implementation guidance
- Technical assistance
- Account configuration
- Custom solutions
Related Resources
Updated 19 days ago