Wise Platform enables your customers to receive transfers from around the world over supported payment rails including SWIFT, SEPA, Faster Payments, and ACH. Transfers are credited to your Wise balance, and you can then send the money to your customers according to your business needs.
Before you can receive transfers, you must set up your account details for the currencies you plan to receive. This step can be completed with help from your implementation team at Wise. Refer to the Setup guide for more information.
Once your currencies are set up, the process of handling incoming transfers with Wise Platform looks like this:
- A sender directs a transfer to your Wise account details using the appropriate scheme credentials (SWIFT BIC and IBAN, local sort code and account number, etc). As the money hits your balance, you receive webhook notifications from Wise Platform telling you:
- That a transfer has been made to your account.
- The amount and origin of the transfer.
- The information identifying which of your customers the transfer is associated with.
- Other details depending on the transfer type. Refer to webhook notifications for more information about each webhook notification.
- Once the funds are in your account, you can send the money to your customer using Wise Platform's API, or proceed according to your business arrangements.
Once the funds are credited to your balance, the receive flow is complete. Any subsequent money movement — such as sending funds to your customer, performing a sweep, or holding — is managed separately through the relevant Wise APIs, and should be reconciled independently.
- If you are new to Wise Platform, use the Getting started resources for developers to get ready to create and test any API integration.
- Learn how to handle the business process for receiving transfers, including how to connect your BIC and share your account details.
- Subscribe to the webhook notifications required for receiving transfers.
- Test your build in the Wise Platform sandbox environment.