This section provides detailed information on initiating and receiving wire transfers through Kredete, including operating hours, processing times, event notifications, and handling return requests.

Kredete API Overview

Empowering Your Financial Solutions with Seamless Integration

Introduction

The Kredete API is a RESTful interface designed to integrate seamlessly with your applications, enabling efficient management of U.S. financial services. Our API accepts and returns JSON-encoded payloads, utilizing standard HTTP response codes, authentication, and methods to ensure compatibility and ease of use.

Operating Hours

Submission Availability

Wire transfer requests can be submitted via Kredete's API at any time.

Processing Times

Fedwire Schedule: Kredete processes wire transfers during Fedwire's operational hours:
Monday through Friday, approximately 8:00 PM to 6:00 PM Central Time (CT), excluding federal holidays.
Kredete Cutoff Time: Wire transfer requests submitted after 4:00 PM CT will be processed on the next business day.

Receiving Incoming Wires

Notifications

Upon receiving a wire transfer, Kredete will send a wire.received webhook event to your registered endpoint.

Processing Outcomes

Successful Deposits: If the wire is successfully processed and credited, a wire.posted event will be sent.
Rejections: If the wire is rejected (e.g., due to inactive or canceled account status, or per Kredete's policies), a wire.rejected event will be sent, detailing the reason.

Returning an Incoming Wire

Self-Service Returns

Utilize the /return endpoint to return funds for predefined, approved reasons established during onboarding, such as:

Unmatched customer information
Unexpected transactions
Beneficiary requests
Honor return requests

For questions about the return process, consult the Kredete team during onboarding.

Handling Wire Return Requests

Sender-Initiated Returns

If a sender requests a wire return, Kredete will contact you to discuss the request and coordinate the appropriate response.

Wire Drawdown Requests

Overview

While wire transfers are typically push (credit) transactions, you may receive drawdown requests (pull payments) via the Fedwire network.

Action Required

If you anticipate handling drawdown requests, inform Kredete to assess support for these operations.

Wire Transfer Events

Incoming Events

wire.posted: Funds successfully credited to your account.
wire.rejected: Incoming wire was rejected; funds returned to sender.

Outgoing Events

wire.scheduled: Wire transaction approved and scheduled for submission.
wire.processing: Wire submission in progress; cancellation no longer possible.
wire.posted: Wire successfully sent to recipient's financial institution.
wire.under_review: Additional review in progress; Kredete may request more information.
wire.rejected: Wire transaction declined; contact support for details.
wire.cancel_pending: Cancellation request received; processing underway.
wire.canceled: Wire canceled; funds returned to your account.

Wire Return Request Events

wire.return_request.received: Kredete has received a return request for an incoming wire.

For further assistance or inquiries, please contact Kredete's support team at [email protected].

Our Offerings

U.S. Bank Accounts

Account Creation: Quickly establish U.S. bank accounts through our API, providing your users with access to essential banking services.
Account Management: Efficiently handle account details, monitor balances, and manage statements to ensure comprehensive financial oversight.

Transfers

ACH Transfers: Initiate Automated Clearing House (ACH) transactions for secure and cost-effective domestic fund transfers.
Wire Transfers: Execute wire transfers for expedited movement of funds, suitable for time-sensitive or large-value transactions.

Getting Started

Access personalized API documentation pre-populated with your API keys by logging into your Kredete account. This tailored documentation streamlines the integration process, providing you with the necessary tools and information to effectively utilize our API services.

Getting Help

We are committed to supporting you throughout your integration journey. To facilitate effective collaboration from start to launch, we offer:

Slack Channel: A dedicated Slack channel for your team, providing direct access to our engineers, technical support, and customer support teams. This real-time communication platform ensures prompt assistance and a streamlined integration process.
Email Support: For any questions or concerns, reach out to us at [email protected]. Our team is here to support you every step of the way.

We look forward to collaborating with you to build innovative solutions powered by the Kredete API.