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The BankTransfer component is a single component that supports the SignOn and Intrabank Funds Transfer functions of Open Financial Exchange, as described by Specification 1.0.2.

NOTE: What follows is a very short description of the component interfaces. For more information, please consult the help files that come with the respective package.

Remarks

The BankTransfer component supports immediate or scheduled funds transfer between two accounts at the same financial institution (intrabank) when the source account, destination account, amount and date of transfer are specified. The date is optional and it should be provided only for scheduled transfers.

Funds transfer requests can be immediate or scheduled.

To make an intrabank transfer, the TransferFunds method should be called and the following information should be provided in the request:

First, identify the:

• OFX user and application by setting the OFXUser, OFXPassword, OFXAppId and OFXAppVersion properties;
• financial institution by setting the FIId, FIOrganization, FIUrl, and BankId properties.

• source account from which you wish to transfer the funds, by setting FromAccountId, FromAccountType, and for international banks also FromBranchId and FromAccountKey properties;
• destination account to which the funds will be sent, by setting ToAccountId, ToAccountType, and for international banks also ToBranchId and ToAccountKey;
• transfer amount by setting Amount to the desired value;
• transfer date by setting DueDate to the date the transfer should be scheduled to occur.

When the response returns, the server cannot provide complete confirmation for the transfer. The server can confirm only that it received the transfer instruction; and possibly whether it validated the accounts, amount, and date specified in the transfer. When the transfer status is not provided in the server response, then the server should confirm that it accepted the instructions by issuing a TransferId and indicate the expected posting date of the transfer stored in TransferDate.

The transfer confirmation can be retrieved at a later time through a synchronization request (by calling SyncTransfers method).

If the request is for an immediate transfer and the server can perform the transfer in real time, the server should indicate whether the transfer succeeded and should return the date of the transfer in DatePosted. In this case, synchronization is not required.

Upon successful response, the following properties will be populated automatically: DefaultCurrency, TransferId, either ProjectedTransferDate or DatePosted, TransferStatus, and TransferDate.

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