Depositing funds
A deposit moves funds from an address book entry into an Axiym account. The external bank account or wallet and the receiving Axiym account must both belong to your organization.
You do not create a deposit with an API request. You retrieve deposit instructions for the intended Axiym account, send the payment outside the Account API, and then use the API to track the incoming payment detected by Axiym.
The three parts of a deposit
| Part | Role |
|---|---|
| Address book entry | The owned bank account or wallet from which the payment is permitted to originate. |
| Deposit instructions | The receiving details to which the payment must be sent to credit a specific Axiym account. |
| Deposit | The incoming payment record created after Axiym detects the payment. |
The address book entry answers where may the payment come from. The deposit instructions answer where must it be sent.
Before sending funds
- Confirm that the sending account or wallet is an active entry in your address book.
- Select the Axiym account whose currency and payment rail match the payment you intend to send.
- Retrieve the current deposit instructions for that Axiym account.
Send funds only from a registered, active address book entry. Use the deposit instructions returned for the intended Axiym account in the current environment.
Deposit instructions
Deposit instructions depend on the Axiym account's payment rail.
Bank deposit
Bank instructions contain the receiving beneficiary name, account number, bank name, SWIFT/BIC, and, when present, a reference assigned to the Axiym account.
Initiate the transfer from the registered bank account and
include the supplied reference when one is returned. Axiym uses
the reference, or the receiving account number when there is no reference,
to match the incoming payment to the intended account. Formatting spaces in
the reference do not affect matching.
Wallet deposit
Wallet instructions contain a walletAddress and
network. Send from the registered wallet using only
the Axiym account's currency and the specified network.
The receiving wallet address is used to associate the incoming payment with the Axiym account.
Deposit lifecycle
After Axiym detects the incoming payment, it appears as a deposit. The Axiym account is credited only when processing completes.
Use webhook events or retrieve the deposit again to observe status changes.
| Status | Meaning |
|---|---|
PENDING | The payment was detected and is awaiting crediting. |
HELD | Processing is temporarily on hold. Continue monitoring the deposit for a later status change. |
COMPLETED | The payment completed and the Axiym account was credited. |
CANCELED | The deposit did not complete. |
REJECTED | The deposit was rejected. |
A canceled or rejected deposit can include a reasonCode. A completed wallet
deposit can include the network transaction hash.
Deposit record and account balance
The deposit represents the incoming payment and its processing status. The Axiym account represents the resulting balance held with Axiym.
A completed deposit tells you the credited account, amount, and currency, along with any fee and available sender or network information. Depending on the rail, it can also include:
remitterName, as reported by the sending bank or network;- an Axiym payment
code; or - a blockchain
transactionHash.
Use the deposit for the business status of the incoming payment. Use the account statement for the corresponding posted credit and running balance.