Withdrawal funds from 1Money
Setup and initiate withdawals through the API.
Use this endpoint https://developer.1money.com/reference/create_withdrawal when your user requests to move funds out of 1Money. Initiate a withdrawal from a customer’s 1Money account to a linked bank account or an external crypto wallet. This endpoint supports fiat withdrawals through global banking rails as well as crypto withdrawals across supported blockchain networks.
What This Endpoint Does
The Create Withdrawal API allows you to programmatically request a payout of fiat or crypto assets from a customer’s 1Money balance.
Depending on the currency and selected payment rail, the withdrawal may be sent via:
- Fiat rails such as ACH, Fedwire, SWIFT, SEPA, Faster Payments, etc.
- Crypto networks such as Ethereum, Solana, Arbitrum, Polygon, and others supported by 1Money.
The API handles validation, fee calculation, and routing logic. The response includes the withdrawal ID, status, amount, rail, and destination details.
Use Cases
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User withdraws USD to their linked bank account
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User withdraws USDC or USDT to an external wallet
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Payout to a third-party recipient for platforms using 1Money agency model
Important Notes
Fiat Withdrawals
- External bank account must be verified before use. You can call the https://developer.1money.com/reference/create_external_account endpoint first to add an external bank account before initiate a fiat withdrawal
- Cutoff times and processing times vary by rail.
- Missing required beneficiary information may delay settlement.
Crypto Withdrawals
- Network must be explicitly specified and must match the wallet format.
- Incorrect addresses or unsupported networks may result in irreversible loss of funds.
Updated about 2 months ago