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Withdraw to IBAN Account

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Platforms can withdraw their revenue (commissions) using the Payout feature. Platform wallets are set up to enable payouts directly to the platform’s designated account. These payouts are always sent to the IBAN account provided by Fondy during the Split Account setup.

How Payouts Work

The funds to execute the payouts reside in the default wallet. To execute the payout, platforms can choose when to initiate payouts based on their business model:

  • Immediate Payouts: Release funds when they arrive in the wallet.
  • Conditional Payouts: Trigger payouts based on specific rules or timeframes.

To perform the payout, you have to:

  • Set type to "PAYOUT".
  • Specify the wallet ID from which the funds should be transferred using the fromWallet parameter.
  • The destination IBAN account is automatically linked to the wallet and does not need to be specified in the API call.

The page Create Payment explains in detail how to use the API to perform the payout.

Updated 15 days ago

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