Automatically transfer money from one bank account to another

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Is there available any API which allow us to automatically transfer money to other bank account? I only found that I can't have it done with paypal API.

I have user money on one bank account and after some action in application I need to transfer this money to other user bank account.

So to summary it all, step by step:

  • User1 send money to application bank account.

  • After few hours User1 confirm some action on aplication by clicking button.

  • After User1 clicked button I want to transfer money to User2 bank account from application bank account automatically.

I already have in DB every information needed to do bank transfer.

I am looking for API which would allow me to do third step which is automatically transfering money from my (app) bank account to user bank account no matter which bank he is using.

3 Answers

If you current bank doesn't support this feature (yet) there is no way to do this without switching to another bank.

I don't know if you are lucky enough to be located in The Netherlands. If you are, then you can use Bunq. They offer a nice APIs and SDKs that makes this possible. Here are the details: https://www.bunq.com/nl/developer

I think there are plans to extend this to the rest of EU soon.

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