To be able to withdraw funds from an account, the account must be open, the account must have disbursements-frozen set to false, and have disbursable funds of the currency-type being disbursed. Once these criteria have been met funds can be withdrawn from an account via disbursements with a funds-transfer-method. The steps to make a disbursement out of an account is as follows.
Create a funds-transfer-method of the desired outgoing funds-transfer-type. This can also be created in line with the disbursement.
Create a disbursement with the appropriate funds-transfer-method.
Seen below is a disbursement made with a wire funds-transfer-method. Since a contact is specified the beneficiary-address will be assumed from the linked contact.
Note that a user provided reference can also be provided on the disbursement.
Make a withdrawal
Track a withdrawal
The lifecycle of the disbursement request should be tracked via the corresponding funds-transfer. An outgoing funds-transfer needs to be verified and authorized via the disbursement-authorization and all related contingent-holds also need to be cleared before the outgoing funds-transfer can be settled.
The disbursement-authorization is verified via a customizable email sent to the emails listed on contacts linked to the account with an account-role of owner. It can be cleared in sandbox as seen below. Generally authorization is automatic after the disbursement-authorization has been owner-verified but this depends on the account-policy, this can also be done in sandbox.
Once the disbursement-authorization and the contingent-holds related to the outgoing funds-transfer are authorized and cleared respectively then the funds-transfer can be settled as seen below in sandbox. Once a funds-transfer settles a corresponding cash transaction will be created. If the funds-transfer is reversed due to return of the funds an offsetting cash-transaction will be created.
Funds Transfer Methods
Account Cash Totals