Fund Transfer Initiate (Single / Bulk)

POST /v1/connected_banking/transfer/initiate

Initiates one or more payouts in a single batch. An OTP is sent and must be confirmed via the Submit API (5.2.2).

Request body

{
    "sub_merchant_id": "019eee2e-4f58-7e9c-831d-f968ebd10902",
    "bank_account_id": "8c5a1284-4e41-4bce-be9a-296cbea7c18f",
    "merchant_transfer_batch_id": "batch_asfg52324",
    "transaction_type_id": 4,
    "payout_data": [
        {
            "merchant_txn_ref_id": "txn_112122222248",
            "open_beneficiary_id":"f0410b61-e1b9-4af0-a73b-ca408cd",
            "vendor_name": "ABC",
            "amount": "2.1",
            "bank_account_number": "923020027156076",
            "ifsc": "UTIB0001799",
            "remarks": "TEST"
        }
    ]
}

For AXIS RIB (Retail Internet Banking, open_beneficiary_id is mandatory. Supply vendor_name, bank_account_number, and ifsc for each payout for other banks. Bulk submissions (multiple elements in payout_data) are supported for AXIS CIB.

Field	Required	Notes
`merchant_transfer_batch_id`	yes	Unique per request from the merchant. Must be unique across all batches submitted by the merchant.
`transaction_type_id`	yes	Transaction type identifier. Refer to the Transaction Type IDs sheet for the full list.
`payout_data[]`	yes	Array of one or more payouts. Bulk submissions (more than one element) are only accepted when the debit account's `partner_bank_id` is `1` (ICICI), `3` (YES Bank), or `12` (AXIS). For every other partner bank, `payout_data` must contain exactly one element.
`payout_data[].merchant_txn_ref_id`	yes	Unique per payout (within the batch and across the merchant's history).
`payout_data[].open_beneficiary_id`	conditional	Mandatory when the debit account is an AXIS Bank RIB account. Obtain it via the Beneficiary Management APIs (Section 5.1). Not required (and not used) for AXIS CIB (NFC) accounts.
`payout_data[].vendor_name` / `bank_account_number` / `ifsc`	conditional	Mandatory when `open_beneficiary_id` is not supplied — i.e. for all non-AXIS partner banks and for AXIS CIB (NFC) accounts.
`payout_data[].remarks`	no	Optional

Success — 200 OK

{
  "status": "success",
  "data": {
    "sub_merchant_id": "b96673d0-9091-45ed-85dc-a1af045a62d2",
    "bank_account_id": "9748b4ae-457d-57d4-b447-98f9fda8f6a8",
    "merchant_transfer_batch_id": "batch_asfg5234",
    "payouts": [
      {
        "merchant_txn_ref_id": "txn_1121",
        "open_beneficiary_id": "275fcb13-d688-481c-a720-1e0789e78f50",
        "vendor_name": "",
        "amount": "45.00",
        "bank_account_number": "",
        "ifsc": "",
        "remarks": "Equity fund",
        "open_txn_id": "oxn1324sfc",
        "bank_txn_ref_id": "AXIS1121",
        "status": "request_initiated",
        "bank_status_code": "",
        "error": null
      }
    ]
  },
  "error": null,
  "meta": { "timestamp": "2026-04-15T12:00:00Z" }
}

bank_status_code reflects the raw status from the partner bank (e.g. INITIATED, COMPLETED, RETURNED_FROM_BENEFICIARY). Refer to the Bank Transaction statuses sheet for the full list.

Possible errors: OPN_CB_FT_001, OPN_CB_FT_002, OPN_CB_FT_004, OPN_CB_FT_005, OPN_CB_FT_006, OPN_CB_FT_007, OPN_CB_FT_008, OPN_CB_FT_009, OPN_CB_FT_010, OPN_CB_FT_013

Refer to the Bank Transaction statuses sheet for the full list of status and bank_status_code values returned by each partner bank.