Table of content
Overview
This API is used to perform interbank fund transfers via the CITAD system, which allows money to be transferred from an account in Bank A to an account in Bank B through the interbank electronic payment system governed by the State Bank of Vietnam.
Why is the create-citad-ft API needed?
- Out-of-network transfers: When the beneficiary account is in a different bank, transfers must be made via CITAD to ensure safe and timely delivery.
- Supports interbank transactions: The CITAD system is the official, legally-compliant channel for interbank payments in Vietnam.
- Integrates with core banking and digital channels: This API supports Internet Banking, Mobile Banking, and over-the-counter transactions.
Key Features – API create-citad-ft
- Facilitates interbank fund transfers through the CITAD system managed by the State Bank of Vietnam, enabling transfers to beneficiary accounts at other banks.
- Supports intermediary bank routing via CITAD codes, useful when transactions need to be cleared through a third-party settlement bank.
- Flexible fee configuration, allowing either the sender or the beneficiary to bear transaction charges, with support for specifying fee amount and fee type.
- Seamless integration with core banking systems (e.g., T24), ensuring real-time validation of account information, balance, and transaction status.
- Multi-channel compatibility, allowing transactions to be initiated via Internet Banking, Mobile Banking, or branch systems.
- Built-in compliance and risk validation, such as checking identity document validity before processing the transfer.
