Business transactions

Business transactions

Our system not only allows transactions from personal senders to personal recipients, but also to and from business senders and business recipients. Note however that regulatory and other requirements might be more strict for these transactions, so before you start implementing business transactions please reach out to our sales and account management team for more information.

Warning! Business transactions are not available to/from all of our corridors. Make sure you reach out to our team to know what is allowed before proceeding with the implementation!

Business senders

For business senders you need to provide different details than for personal senders. More specifically you need to provide:

  • Name of the company
  • Country of incorporation
  • Registration date and number
  • Trading address
  • Company‚Äôs type
  • Industry / nature of business

Please see the following example on how to provide these fields:

{
    "type": "business",
    "name": "Company name",

    // Country of Incorporation
    "country": "US",

    // Trading address of the company
    "trading_country": "US",
    "city": "New York",
    "street": "20 W 34th St",
    "postal_code": "10001",
    "address_description": "",

    // Company Details
    "legal_entity_type": "privately_owned_company", // company type
    "registration_date": "2012-01-25",
    "registration_number": "VAT1234567",
    "nature_of_business": "retail_trade", // industry

    // Contact Details
    "phone_country": "US",
    "phone_number": "5555551234",
    "email": "example@home.org",

    // ID of the sender in your system
    "external_id": "Sender:Business:US:234523",

    // these fields are mandatory, but you can usually leave them with the following default values:
    "documents": [ ],
    "ip": "127.0.0.1",
    "metadata": {}
}
Sender sender = new Sender(
  type: TypeEnum.BUSINESS,
  name: "Company Name",

// Country of Incorporation
  country: "US",

// Trading address of the company
  tradingCountry: "US",
  city: "New York",
  street: "20 W 34th St",
  postalCode: "10001",
  addressDescription: "",

// Company Details
  legalEntityType: LegalEntityTypeEnum.PRIVATELY_OWNED_COMPANY,
  registrationDate: DateTime.Parse(2012-01-25"),
  registrationNumber: "VAT1234567",
  natureOfBusiness: NatureOfBusinessEnum.RETAIL_TRADE,

// Contact Details
  phoneCountry: "US",
  phoneNumber: "5555551234",
  email: "info@transferzero.com",

// ID of the sender in your system
  externalId: "Sender:Business:234523",

// you'll need to set these fields but usually you can leave them the default
  ip: "127.0.0.1",
  documents: new List<Document>());
Dim sender as Sender = New Sender(
  type:=TypeEnum.BUSINESS,
  name:="Company Name",

' Country of Incorporation
  country:="US",

' Trading address of the company
  tradingCountry:="US",
  city:="New York",
  street:="20 W 34th St",
  postalCode:="10001",
  addressDescription:="",

' Company Details
  legalEntityType:=LegalEntityTypeEnum.PRIVATELY_OWNED_COMPANY,
  registrationDate:=DateTime.Parse(2012-01-25"),
  registrationNumber:="VAT1234567",
  natureOfBusiness:=NatureOfBusinessEnum.RETAIL_TRADE,

' Contact Details
  phoneCountry:="US",
  phoneNumber:="5555551234",
  email:="info@transferzero.com",

' ID of the sender in your system
  externalId:="Sender:Business:234523",

' you'll need to set these fields but usually you can leave them the default
  ip:="127.0.0.1",
  documents:=New List(Of Document)()))
Sender sender = new Sender();
sender.setType(TypeEnum.BUSINESS);
sender.setName("Company Name");

// Country of Incorporation
sender.setCountry("US");

// Trading address of the company
sender.setTradingCountry("US");
sender.setCity("New York");
sender.setStreet("20 W 34th St");
sender.setPostalCode("10001");
sender.setAddressDescription("");

// Company Details
sender.setLegalEntityType(LegalEntityTypeEnum.PRIVATELY_OWNED_COMPANY);
sender.setRegistrationDate(LocalDate.parse(2012-01-25"));
sender.setRegistrationNumber("VAT1234567");
sender.setNatureOfBusiness(NatureOfBusinessEnum.RETAIL_TRADE);

// Contact Details
sender.setPhoneCountry("US");
sender.setPhoneNumber("5555551234");
sender.setEmail("info@transferzero.com");

// ID of the sender in your system
sender.setExternalId("Sender:Business:234523");

// you'll need to set these fields but usually you can leave them the default
sender.setIp("127.0.0.1");
sender.setDocuments(new ArrayList<>());
const sender = new TransferZeroSdk.Sender();
sender.type = "business";
sender.name = "Company Name";

// Country of Incorporation
sender.country = "US";

// Trading address of the company
sender.trading_country = "US";
sender.city = "New York";
sender.street = "20 W 34th St";
sender.postal_code = "10001";
sender.address_description = "";

// Company Details
sender.legal_entity_type = "privately_owned_company";
sender.registration_date = 2012-01-25";
sender.registration_number = "VAT1234567";
sender.nature_of_business = "retail_trade";

// Contact Details
sender.phone_country = "US";
sender.phone_number = "5555551234";
sender.email = "info@transferzero.com";

// ID of the sender in your system
sender.external_id = "Sender:Business:234523";

// you'll need to set these fields but usually you can leave them the default
sender.ip = "127.0.0.1";
sender.documents = [];
$sender = new Sender();
$sender->setType("business");
$sender->setName("Company Name");

// Country of Incorporation
$sender->setCountry("US");

// Trading address of the company
$sender->setTradingCountry("US");
$sender->setCity("New York");
$sender->setStreet("20 W 34th St");
$sender->setPostalCode("10001");
$sender->setAddressDescription("");

// Company Details
$sender->setLegalEntityType("privately_owned_company");
$sender->setRegistrationDate(2012-01-25");
$sender->setRegistrationNumber("VAT1234567");
$sender->setNatureOfBusiness("retail_trade");

// Contact Details
$sender->setPhoneCountry("US");
$sender->setPhoneNumber("5555551234");
$sender->setEmail("info@transferzero.com");

// ID of the sender in your system
$sender->setExternalId("Sender:Business:234523");

// you'll need to set these fields but usually you can leave them the default
$sender->setIp("127.0.0.1");
$sender->setDocuments([]);
sender = TransferZero::Sender.new
sender.type = "business"
sender.name = "Company Name"

# Country of Incorporation
sender.country = "US"

# Trading address of the company
sender.trading_country = "US"
sender.city = "New York"
sender.street = "20 W 34th St"
sender.postal_code = "10001"
sender.address_description = ""

# Company Details
sender.legal_entity_type = "privately_owned_company"
sender.registration_date = 2012-01-25"
sender.registration_number = "VAT1234567"
sender.nature_of_business = "retail_trade"

# Contact Details
sender.phone_country = "US"
sender.phone_number = "5555551234"
sender.email = "info@transferzero.com"

# ID of the sender in your system
sender.external_id = "Sender:Business:234523"

# you'll need to set these fields but usually you can leave them the default
sender.ip = "127.0.0.1"
sender.documents = []

The valid values for the company type / legal entity type are the following:

Note! If you select financial_institution then the fields vat_registration_number, financial_regulator and regulatory_licence_number will be mandatory for the sender as well.

The valid values for the industry / nature of business are the following:

- personal: Personal
- agriculture_and_hunting: Agriculture and Hunting
- forestry: Forestry
- fishing: Fishing
- agricultural_by_products: Agricultural By-Products
- coal_mining: Coal Mining
- oil_mining: Oil Mining
- iron_ore_mining: Iron Ore Mining
- other_metal_and_diamond_mining: Other Metal and Diamond Mining
- other_mineral_mining: Other Mineral Mining
- manufacturing_of_food_drink_tobacco: Manufacture of Food/Drink/Tobacco
- manufacturing_of_textiles_leather_fur_furniture: Manufacture of Textiles/Leather/Fur/Furniture
- manufacture_of_wooden_products_furniture: Manufacture of Wooden Products/Furniture
- manufacture_of_paper_pulp_allied_products: Manufacture of Paper/Pulp/Allied Products
- manufacture_of_chemicals_medical_petroleum_rubber_plastic_products: Manufacture Of Chemicals Medical Petroleum Rubber Plastic Products
- manufacture_of_pottery_china_glass_stone: Manufacture Of Pottery China Glass Stone
- manufacture_of_iron_steel_non_ferrous_metals_basic_industries: Manufacture Of Iron Steel Non-Ferrous Metals Basic Industries
- manufacture_of_metal_products_electrical_and_scientific_engineering: Manufacture Of Metal Products Electrical And Scientific Engineering
- manufacture_of_jewelry_musical_instruments_toys: Manufacture Of Jewelry Musical Instruments Toys
- electricity_gas_and_water: Electricity, Gas And Water
- construction: Construction
- wholesale_trade: Wholesale Trade
- retail_trade: Retail Trade
- catering_incl_hotels: Catering Incl. Hotels
- transport_storage: Transport Storage
- communications: Communications
- finance_and_holding_companies: Finance And Holding Companies
- insurance: Insurance
- business_services: Business Services
- real_estate_development_investment: Real Estate Development Investment
- central_state_governments: Central State Governments
- community_services_defence_police_prisons_etc: Community Services Defence Police Prisons Etc
- social_services_education_health_care: Social Services Education Health Care
- personal_services_leisure_services: Personal Services - Leisure Services
- personal_services_domestic_laundry_repairs: Personal Services - Domestic Laundry Repairs
- personal_services_embassies_international_organisations: Personal Services - Embassies

Business recipients

For business recipients the only change you have to make is use of the name value instead of first_name and last_name. Please see our payout details documentation on how to specify the rest of the details for each of our payout corridors.


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