Transfers allow you to send funds from your Devdraft account to external recipients. Send money to bank accounts via traditional banking rails or transfer cryptocurrency to external wallet addresses with full beneficiary management.
Transfer Types
Traditional Banking:Supported Methods:
- Wire Transfers - Same-day processing for urgent payments
- ACH Transfers - Lower cost, 1-2 business day settlement
- SEPA Transfers - European bank account payments
- International Wire - Global bank connectivity
- USD (via ACH and Wire)
- EUR (via SEPA and Wire)
- Multi-currency account support
How to Send Transfers
1
Access Transfers
Navigate to Payments → Transfers in your dashboard
2
Choose Transfer Type
Select between bank account transfer or cryptocurrency wallet transfer
3
Select Beneficiary
Existing Beneficiary:
- Choose from your saved recipients
- View recent transaction history
- Quick selection for frequent transfers
- Add new bank account or wallet address
- Complete verification process
- Save for future transfers
4
Enter Transfer Details
Amount and Currency:
- Specify transfer amount
- Select source currency from your balances
- Choose destination currency if different
- Select transfer speed (standard/express)
- Add transfer reference or memo
- Set processing preferences
5
Review and Confirm
Final Verification:
- Verify recipient details
- Check transfer amount and fees
- Review exchange rates (if applicable)
- Confirm processing timeline
6
Execute Transfer
Submit the transfer and receive transaction ID for tracking
Video Tutorial: Sending Transfers
Learn how to send transfers from your Devdraft account:Beneficiary Management
Bank Beneficiaries
Traditional Banking:
- Account holder name and address
- Bank name and address
- Account number and routing/IBAN
- SWIFT/BIC codes for international
- Beneficiary verification process
Crypto Beneficiaries
Blockchain Addresses:
- Wallet address verification
- Network selection and validation
- Address labeling and organization
- Transaction history tracking
- Multi-network support
Adding New Beneficiaries
Bank Account Setup
Bank Account Setup
Required Information:For USD Bank Accounts:
- Beneficiary full name
- Bank name and address
- Account number
- Routing number (ACH) or SWIFT code (Wire)
- Account type (checking/savings)
- Beneficiary full name and address
- Bank name and address
- IBAN number
- BIC/SWIFT code
- Bank country code
Cryptocurrency Wallet Setup
Cryptocurrency Wallet Setup
Address Configuration:Required Details:
- Wallet address (validated for network compatibility)
- Network selection (Ethereum, Polygon, etc.)
- Address label for easy identification
- Optional memo or destination tag
- Address format validation
- Network compatibility check
- Test transaction option (small amount)
- Address confirmation requirements
Transfer Processing
Processing Schedule:
| Transfer Method | Processing Time | Settlement | Cut-off Times |
|---|---|---|---|
| Same Day ACH | 2-6 hours | Same day | 9:30 AM, 1:45 PM, 3:45 PM ET |
| Next Day ACH | 1-2 business days | Next business day | 1:00 PM ET |
| Wire Transfer | 1-4 hours | Same day | 4:45 PM ET |
| SEPA Instant | <30 seconds | Instant | 24/7/365 |
| SEPA Credit | 1-2 business days | Next business day | 9:00 AM CET |
Transfer Fees and Limits
Bank Transfer Fees
Bank Transfer Fees
Traditional Banking Costs:ACH Transfers:
- Same Day ACH: $1-5 per transaction
- Next Day ACH: $0.50-2 per transaction
- Monthly limit: Based on verification level
- Domestic Wire: $15-25 per transaction
- International Wire: $25-50 per transaction
- Same-day processing available
- SEPA Instant: €0.50-2 per transaction
- SEPA Credit: €0.20-1 per transaction
- Cross-border EUR transfers
Cryptocurrency Fees
Cryptocurrency Fees
Blockchain Network Costs:Network Fees:
- Variable based on network congestion
- Gas optimization for Ethereum
- Lower fees on Layer 2 networks
- Fee estimation before confirmation
- Platform fee: 0.5-1% of transfer amount
- Network fee: Varies by blockchain
- Express processing: Additional 0.25%
- Bulk transfer discounts available
Transfer Limits
Transfer Limits
Daily and Monthly Limits:Based on Verification Level:
Cryptocurrency Limits:
| Verification Level | Daily Limit | Monthly Limit | Per Transaction |
|---|---|---|---|
| Basic KYC | $10,000 | $50,000 | $5,000 |
| Enhanced KYC | $100,000 | $500,000 | $50,000 |
| Business Account | $500,000 | $2,000,000 | $250,000 |
- Generally higher than fiat limits
- Network-specific maximums
- Instant vs. scheduled processing options
Transfer Analytics and Tracking
Transaction Monitoring
Real-Time Tracking:
- Live transfer status updates
- Processing milestone notifications
- Settlement confirmations
- Failed transaction alerts
Transfer History
Complete Records:
- All sent and received transfers
- Beneficiary transaction history
- Search and filter capabilities
- Export functionality
Performance Metrics
Transfer Analytics:
- Success rate tracking
- Average processing times
- Cost analysis by method
- Beneficiary usage patterns
Security and Compliance
Transfer Security
Transfer Security
Protection Measures:
- Beneficiary Verification - Identity confirmation for recipients
- Transfer Limits - Daily and monthly limits based on risk
- Two-Factor Authentication - Required for transfer confirmation
- IP Whitelisting - Restrict transfers to approved locations
- Transaction Monitoring - Real-time fraud detection
- Audit Trails - Complete transfer logging
Regulatory Compliance
Regulatory Compliance
Financial Regulations:
- AML Screening - Anti-money laundering checks
- KYC Requirements - Know Your Customer verification
- OFAC Compliance - Sanctions list screening
- Transaction Reporting - Regulatory compliance reporting
- Record Keeping - Required documentation retention
- Cross-Border Regulations - International transfer compliance
Best Practices
1
Verify Beneficiary Information
Accuracy is Critical:
- Double-check all account details
- Verify recipient identity
- Test with small amounts first
- Keep beneficiary information updated
2
Choose Optimal Transfer Methods
Cost and Speed Balance:
- Use ACH for routine, non-urgent transfers
- Choose wire transfers for time-sensitive payments
- Consider Layer 2 networks for crypto transfers
- Monitor network congestion for timing
3
Maintain Transfer Records
Documentation and Tracking:
- Export transaction data regularly
- Maintain records for tax purposes
- Use reference fields for internal tracking
- Monitor transfer performance metrics
4
Implement Security Measures
Risk Management:
- Enable two-factor authentication
- Set appropriate transfer limits
- Monitor for unusual transfer patterns
- Keep beneficiary information secure
Always verify recipient details carefully before sending transfers. Cryptocurrency transfers are irreversible, and incorrect bank details may result in delayed or failed transfers with potential recovery fees.
Transfer processing times and fees may vary based on network conditions, banking holidays, recipient bank policies, and regulatory requirements. Some transfers may require additional verification steps.