Defund Network Account

Where you need to withdraw funds from your account, either as part of facilitating a payment request from another Participant, or simply to return funds to yourselves, a request is made via the RTGS.global Platform.

Overview

Where you need to withdraw funds from your network account — either to facilitate a payment request from another participant or to return funds to yourself — a request is made via the RTGS.global platform. RTGS.global performs a balance check and forwards the request to the Funds Controller to make the payment to a target account specified by you.

Process

1. Submit defund request — Call the Defund API specifying the amount and target account
2. Platform validation — RTGS.global validates account status and verifies sufficient balance
3. Funds Controller transfer — RTGS.global creates a pending transaction and instructs the Funds Controller to transfer funds to the specified target account
4. Confirmation — Upon successful transfer, the pending transaction is executed and you receive a camt.054 notification