Fund Transfer API
Fund transfer API (Payment API) is a corporate fund transfer service that allows companies to transfer money from their accounts to beneficiaries. The API is designed for domestic fund transfers, enabling you to securely transfer funds to Krungsri Bank or other banks with ease via our six transfer services, using either bank account numbers or PromptPay IDs:
Direct Credit API
Transfers between Krungsri deposit accounts in real time. You can send the beneficiary’s tax ID for validation with the account number.
Smart Credit API
Transfers to other banks’ deposit accounts in real time
SMART Same Day
Transfers to beneficiaries, with funds credited on the same day.
SMART Next Day
Transfers to beneficiaries, with funds credited on the next banking day.
BAHTNET
Transfers high-value amounts to other banks’ deposit accounts.
Promptpay API
Transfers in real time to various types of proxy IDs, including PromptPay mobile number, national ID number, tax ID number, and e-wallet ID.
*For fund transfer transactions to other banks using both account numbers and PromptPay IDs, you can use the auto-split feature to facilitate transactions with amounts over the limit.
Use Case: Disbursing a personal loan to customers
When your customers have a credit limit and request a cash advance, after you validate and approve the request, you can disburse the funds in real time to your customers’ Krungsri accounts, other banks’ accounts, or PromptPay IDs using the Krungsri API. When you send an instruction to transfer from your account set up with Krungsri, you will receive the following:
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The ability to transfer payments and receive transfer responses immediately.
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The ability to withhold amounts and submit withholding tax information to the Revenue Department via an electronic channel.
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The ability to notify customers of transaction details through payment advice.
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The ability to track transaction status in real time via the API and Krungsri Quick Transfer.
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The ability to check the end of day reconciliation report through the API, Krungsri CashLink, and sFTP.
Additional services
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e-Withholding tax
In case your fund transfer transaction requires withholding tax deduction, we offer an e-Withholding Tax service that submits the withholding tax amount and related information to the Revenue Department on your behalf. After that, the beneficiary can check the deduction details from the payment advice or on the Revenue Department’s website.
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Payment Advice
To provide proof of fund transfer to the beneficiary, you can send a payment advice via SMS, email, or URL along with the fund transfer instruction to provide more transaction details, such as the payer’s account name, transaction date and time, transfer amount, and e-withholding tax information.
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Dual Control
We provide “Dual Control” for transfer transactions requiring approval before crediting funds to the beneficiary. You send the initiation request via the API and the transaction is then submitted to CashLink for approval. The transaction succeeds once approved.
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Withholding tax Agent
After charging the transaction fee, we will calculate the tax and submit the amount and information for reporting to the Revenue Department on your behalf. You will receive a report and a receipt with a message certifying that the withholding tax on the transaction fee has been submitted to the department.
Pre-requisite
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You have to open a deposit account with Krungsri before using the service. We allow fund transfers from both current and savings accounts, including resident and non-resident Thai Baht accounts (NRBA). Transfers from OVS accounts are supported as well.
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We suggest that you verify your customer identity to make sure that an instruction is initiated from an authorized party before sending financial instruction to Krungsri.
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We suggest that you validate the amount being requested is within the allowed limit of your product or within the available balance of your Krungsri account.
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We suggest that you check the beneficiary’s account type before making a transaction. We support both Krungsri current and savings accounts, including resident and non-resident Thai Baht accounts (NRBA), OVS accounts, Kept accounts, time deposit accounts, accounts from other banks, and PromptPay IDs.
Fund Transfer Initiation and Confirmation
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End-user requests for fund transfer through a UI provided at front-end application and specify information for financial instruction (e.g., source account, destination account, amount).
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Validate end-user eligibility in using the service.
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System invoke process for financial transaction (Fund transfer initiation API).
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Krungsri API validates financial instruction, which may result in the following scenarios:
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Success: transactionInitiationNumber is provided for further process.
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Fail: An error is returned.
Partner Application may prompt details for the end-user to review and authorize.
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Once the transaction is authorized (end-user action or bypass), the system confirms back to Krungsri.
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Krungsri API executes financial instruction (Fund transfer confirmation API).
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Krungsri API verifies financial instruction, which may result in the following scenarios:
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Success: Krungsri API responses transaction status to the partner’s application, then the API sends payment advice to the recipient(s) and submits eWHT detail to the Revenue Department as instructed.
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Fail: An error is returned.
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Partner application may prompt the transfer result to the end-user.
Fund Transfer Transaction Status
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Partner application inquiries about the transaction status using the transactionInitiationNumber (Fund transfer status inquiry API)
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Krungsri API validates the instruction, which may result in the following scenarios:
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Success: Responds with the transaction status and other details such as the transaction datetime, amount, etc.
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Fail: An error is returned.
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Payment Advice Generation
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The recipient or end-user requests the partner application to send or resend the payment advice.
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Partner application requests the payment advice using the paymentReferenceIdentification (Fund transfer payment advice generation API)
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Krungsri API validates the instruction, which may result in the following scenarios:
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Success: Returns the result to the partner application and sends the payment advice to the recipient(s).
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Fail: An error is returned.
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• Related API
| Seq No. | API Name | API Endpoints |
|---|---|---|
| A | Fund Transfer Initiation | POST /rest/api/v4/accounts/deposits/fundTransfer/initiation |
| B | Fund Transfer Confirmation | POST /rest/api/v4/accounts/deposits/fundTransfer/confirmation |
| C | Fund Transfer Transaction Status | GET /rest/api/v3/accounts/deposits/fundTransfer/inquiry/{transactionInitiationNumber} |
| D | Fund Transfer Payment Advice Generation | POST /rest/api/v1/accounts/deposits/fundTransfer/paymentAdvice/generation |
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.