Using Solid's Create an Account API, you can open an account. Next, you can Fund an Account via Intrabank, ACH, Wire, or Depositing a Check. Once that account is funded, you can use the Solid Send APIs to make a payment or send funds to another Bank Account in the US, via ACH.
To make a payment or send funds via an ACH to another bank account in the US:
- On the source account (the account from which the payment is being sent), Create a Contact with the Account Number, Routing Number, Account Type, and Bank Name of the destination account (the account receiving the funds). Solid provides an API to look up the bank name from the routing number.
- Send an ACH Push with the amount and description to the contact ID containing the destination account details. You can also pass the clearing time for the ACH (sameDay or nextDay). By default, it is set to nextDay.
- The funds are debited from the source account, and the destination account receives the funds the same day or the next day.
- Refer to the ACH cut-off times here.
Using the Retrieve Bank Info API, you can lookup Bank Information by passing type=aba and the routingNumber=Bank's Routing Number (works well for Domestic US Banks).
- For ACH Transactions, Solid supports the ACH addenda record. It is an optional record attached to an ACH payment. Think of it as a note or a memo attached to the ACH. It is used to provide additional information of the account holder or the offer details to the purpose of the ACH transaction. As an RDFI, Solid passes through the ACH addenda information received from the ODFI. Please check with your ODFI if you do not see the ACH addenda. ACH addenda is available in the Solid Dashboard (transaction details) or the Transaction Details API & Webhook.