How it all works
In a nutshell:
- you send a guarantee payment to Bank 131;
- the Bank then executes your payout orders. The total of your payouts cannot exceed the guarantee payment you have deposited.
To perform payouts through the Faster Payment System, you need to open a current account in Bank 131.
Guarantee payment balance
You need to regularly check the balance of your guarantee payment
balance using the
method and top it up in advance via bank wire to the account specified
in your agreement with the Bank. The wire takes 1 to 3 working days.
If the total of the payouts you have ordered to be performed using this API exceeds your guarantee payment, Bank 131 will not be able to perform the payouts.
You may perform mass pauouts via API through the Faster Payment System with the funds on your current account. The funds is instantly credited to your current account and debited to the recipient's account. You may top up your current account with a bank transfer.
You may monitor the current account balance in your remote banking service account, the sstatement will show the payouts through FPS, as well as all other current account transactions.
You may realize payouts from payers to beneficiaries using a nominal account. Before crediting funds to the nominal account, provide the Bank with the information about beneficiaries who own the funds.
The funds are instantly debited from your account and debited to the beneficiary's bank card.
You may monitor the nominal account balance in your remote banking system account. The statement will show all transactions for the account, including payouts. Additionaly the Bank will send you the daily payouts repor.
The Banks sends you daily and monthly reports about your payouts.