Fund Transfer

We facilitate payments to your customers with Krungsri capabilities in making domestic financial transactions. The API is designed for you to have a quick and secured service at your disposal for processing financial instruction for Krungsri deposit accounts anytime with ease.

• On-Us transaction

An on-us transactions are those in which account payable and account receivable are both Krungsri. Fund transfer API will process provided financial instruction in having fund be debited from one Krungsri bank account and be credited into another Krungsri bank account. Currently, we only support operations for Savings and Current account.

• Off-Us transaction

An off-us transaction is those in which account receivable is not Krungsri. Fund transfer API will process provided financial instruction in having fund be debited from source of fund at Krungsri and be credited into destination account of your choice using bank account number or prompt pay identifier. 

• Use Case: Disbursement powered by Krungsri Fund Transfer APIs

Imagine how customer experience would be for your platform, if it capable of disbursing money directly to your customers in real time. The idea behind is simple given that you have a current account with Krungsri, as it can be used as source of fund for your product. Then use Krungsri Fund Transfer APIs to have your financial instruction be processed right away.

 High level steps:
 
1) End-user reaches the product on the provided channel and initiates the request for financial transaction.
2) Application verifies identity and eligibility of their customer before submitting instruction to Krungsri.
     This may include;
         - Registration status of a customer to ensure transaction initiated by an eligible person
         - Credentials verification to authorize transaction
         - Account status in case there is any restriction based on customer profile
         - Allowed amount for the transaction to ensure the limit is not exceeded
3) Application then submits instruction for processing through provided APIs. Please refer to more details below.
 
 

• Related API

     

Technical Details

Aside from the standard security requirements in consuming this API (e.g. authentication token, request header, and signature), there are some verification in place in addition to those layers.

Link account :

       If your product involves fund being debited from Krungsri bank account of a customer, there is a need for you to incorporate link account feature provided by Krungsri into your user journey. This feature will ensure that Krungsri customer is aware of access to their deposited funds and required consent is captured as per Krungsri Terms and Condition. Read more.
 

Tokenization :

       If your application has to store customer information for financial services such as bank account number; Krungsri also provides you with the capability in having that information be tokenized and securely stored at Krungsri. The provided token can be securely stored and used in place of real value where such information is needed. Read more.
 

Authorization :

There may be cases that Krungsri requires authorization from customer through OTP. For fund transfer APIs, this step is already put in place. Whenever this happens, you can simply provide the code sent to customer back to us and we will take care of the rest.