Required fields per payout method

Question:

For each payout method supported (by currency and rail), what are the required and optional fields?

• Is a beneficiary document number required? Which document types are accepted per rail?

• What format/identifier is used to reference banks (internal bank ID, SWIFT/BIC, local code)? Is there a catalog endpoint we can query?

• Does the provider perform ownership validation (e.g., beneficiary name/document must match the account holder)? Is this validation mandatory or optional?

• Are there multiple account-identifier types per rail? If so, are the required fields different for each?

Answer:

US domestic (ACH / Fedwire): beneficiary name and address + account number + ABA routing number. 

SWIFT: beneficiary name and address,IBAN, SWIFT/BIC

We use local bank account numbers +routing  in US and Institution / Transit in Canada, and IBAN for SWIFT everywhere else. We will soon be adding additional local payment rails with local bank formats. All external banks are linked through a single /external-accounts endpoint with a unique type (i.e. bankUS, bankCanada, bankIBAN) which specifies required fields.

Beneficiary document number is not required. Every beneficiary is screened (sanctions/AML); name-match validation follows the receiving bank's rules rather than a mandatory pre-validation on our side.