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Cash-in and cash-out introduction

Enabling bank or credit card payments in your app

Michail Brynard avatar
Written by Michail Brynard
Updated over a week ago

Understanding the cash-in and cash-out processes is crucial for managing the flow of funds within your fintech application. These processes enable users to deposit (cash in) and withdraw (cash out) money from their accounts. Here’s a brief overview of how these processes work with Rehive and links to the detailed documentation.

Cash-in process

The cash-in process allows users to deposit funds into their accounts. This involves:

  1. User initiates deposit:

    1. The user selects the deposit option within the app and specifies the amount.

  2. Provide deposit instructions:

    1. The app provides deposit instructions, including bank account details and a unique reference number.

  3. User completes transfer:

    1. The user transfers the specified amount to the provided bank account.

  4. Verify deposit:

    1. The system verifies the deposit by matching the reference number with the user’s account.

  5. Credit user account:

    1. The deposited amount is credited to the user’s account after verification.

For more detailed steps, refer to the deposits integration guide.

Cash-out process

The cash-out process enables users to withdraw funds from their accounts. This involves:

  1. User initiates withdrawal:

    1. The user selects the withdrawal option and specifies the amount.

  2. Provide withdrawal instructions:

    1. The app prompts the user to provide or confirm their bank account details.

  3. Process withdrawal request:

    1. The system processes the withdrawal request and deducts the specified amount from the user’s account.

  4. Transfer funds:

    1. The funds are transferred to the user’s bank account.

  5. Notify user:

    1. The user is notified once the withdrawal is successfully processed.

For more detailed steps, refer to the withdrawals integration guide.

Integration with Rehive

Both cash-in and cash-out processes require integration with financial institutions and payment processors. Rehive provides the necessary API endpoints and documentation to facilitate these integrations.

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