EFT

Introduction to Electronic Fund Transfers (EFTs) transactions

Overview

An EFT payment method is an electronic funds transfer between banks in Canada that takes up to 3 days to complete. You can send and receive funds using EFT.

Method: POST

Endpoint: {{env}}/api/transaction

Example

Request Payload

{
  "ZumRailsType": "AccountsReceivable",
  "TransactionMethod": "Eft",
  "Amount": 123.45,
  "Memo": "Memo description",
  "Comment": "This transaction is just a test from a user to wallet",
  "UserId": "1d431e8b-...85452adb4eee",
  "WalletId": "8ebd932b-...b92633e14297"
}

Request Parameters

Parameter	Type	Mandatory	Description
ZumRailsType	string	yes	Transaction type
TransactionMethod	string	yes	Transaction method
Amount	decimal	yes	Transaction amount
Memo	string	yes	Memo description. If customer transaction description type is "PerTransaction", this will be shown at the bank statements. Maximum of 15 characters. Only letters, numbers, dash, space and underscore are allowed
Comment	string	no	Internal comment you might want to add. Interac transactions will display the comment on the request.
FundingSourceId	guid	no	Funding Source Id
WalletId	guid	no	Wallet Id
UserId	guid	no	User Id
User	User input	no	It's possible to create a transaction without adding a user first. Simply pass the user object (instead of the UserId) into the transaction body. For reference, check the payload example of the user object here and pass this when you create a transaction (check interac transaction payload example). Only available for EFT and interac transaction methods
ScheduledStartDate	date	no	The date when the transaction will be sent to the financial institution, in the format YYYY-MM-DD. Must be greater than today.
ClientTransactionId	string	no	This field can be used to store the Transaction id created in your system when the Transaction is initiated

To learn more about EFT transactions, see API Reference.

Benefits of using EFT

• Speed & Efficiency: Faster transactions and no need for paper checks or visits to the bank.

• Cost-Effective: Low transaction fees and reduced administrative costs.

• Security: Encrypted, reducing fraud risk, and providing clear transaction records.

• Accuracy: Fewer errors, with automatic transaction reconciliation.

• Recurring Payments: Ideal for subscriptions and direct deposits, ensuring on-time payments.

How it works?

Collect PAD

Independent of the method used to add payment profile, a user is always asked to agree and consent the information shared (PAD) when creating a payment profile. The message can be customized for your needs as well. Your specific settings will be available under your profile in Zūm Rails portal.

Transaction Types

With EFT, you can perform five unique transaction types:

• FundZumWallet

• WithdrawZumWallet

• AccountsPayable

• AccountsReceivable

• UserTransfer (Only available using API)

Transaction Life Cycle

• Accounts Receivable transaction with funds deposited to Wallet

  1. Transaction Complete

  2. Transaction for debit transaction was added to an EFT File

  3. EFT file for debit transaction uploaded to Financial Institution

  4. EFT answer was received for debit transaction from financial institution

  5. Wallet Funded

  6. EFT for debit transaction has been processed by Financial Institution

  7. Transaction Complete

• Accounts Payable transaction with funds sent to User from Wallet

  1. Transaction started

  2. Wallet Withdrawn

  3. Credit transaction added to an EFT file

  4. EFT file for credit transaction uploaded to Financial Institution

  5. EFT answer received for credit transaction from Financial Institution

  6. EFT for credit transaction processed by Financial Institution

  7. Transaction Complete

Processing Schedule

EFT - Financial Institute A

• Times we send the transactions - mon to fri:

  • 5:55am;

  • 2:55pm;

  • 6:55pm;

• When we process the responses - tue to sat:

  • 1:10am;

EFT - Financial Institute B

• Times we send the transactions - mon to fri:

  • 2:55am;

  • 1:58pm;

  • 5:58pm;

• When we process the responses - tue to sat:

  • 8:00am;

Transaction Limits

Transaction Limit	Minimum	Maximum
Amount limit per transaction	$0.00	Unlimited
Maximum volume per day	$0.00	Unlimited
Transaction per day	$0.00	$99,999,999
Maximum Volume Per Month	$0.00	Unlimited

Transaction Events

Zūm Rails also offers a more detailed transaction event, to indicate every step the transaction passed.

Method	Event	Description
All	Started	When the transaction started
All	Succeeded	When the transaction succeeds, when it finishes without any error
All	WalletFunded	When the transaction funds a wallet
All	WalletWithdrawn	When the transaction withdrawn a wallet
-------	-------	-------
Eft	EFTFileCreated	When an EFT file is created. One transaction might have up to 2 files
Eft	EFTFileUploaded	When an EFT file is uploaded
Eft	EFTAnswerReceived	When an EFT file response is received
Eft	EFTAnswerProcessed	When an EFT file is processed
Eft	EftFailedValidationRejection	When EFT could not be created, due an invalid information provided
Eft	EftFailedInsufficientFunds	When transaction is rejected, due non sufficient funds available
Eft	EftFailedCannotLocateAccount	When account is not located, account, transit or institution numbers are invalid
Eft	EftFailedStopPayment	Account do not allow EFT
Eft	EftFailedAccountClosed	When account is closed
Eft	EftFailedNoDebitAllowed	Account do not allow EFT
Eft	EftFailedFundsNotFree	When transaction is rejected, due non sufficient funds available
Eft	EftFailedCurrencyAccountMismatch	When the currency of the transaction does not match the currency of the account
Eft	EftFailedPayorPayeeDeceased	Account do not allow EFT
Eft	EftFailedFrozenAccount	Account do not allow EFT
Eft	EftFailedInvalidErrorAccountNumber	When account is not located, account numbers are invalid
Eft	EftFailedErrorPayorPayeeName	When account is not located, first, last or company name (business) mismatch
Eft	EftFailedRefusedNoAgreement	Account do not allow EFT
Eft	EftFailedNotInAccountAgreementP	Account do not allow EFT
Eft	EftFailedNotInAccountAgreementE	Account do not allow EFT
Eft	EftFailedAgreementRevoked	Account do not allow EFT
Eft	EftFailedDefaultByAFinancialInstitution	Generic error provided by the financial institution
Eft	EftFailedCustomerInitiatedReturnCreditOnly	When the payee has requested the credit to be returned
Eft	EftFailedTransactionNotAllowed	When the bank account is banned
Eft	EftFailedCustomerInitiatedReturnCreditOnly	When the payee has requested the credit to be returned
Eft	EftFailedNoPrenotificationP1	No Confirmation/Pre-Notification – Personal
Eft	EftFailedNoPrenotificationP2	No Confirmation/Pre-Notification – Business
Eft	EFTFileCreated	When the EFT file is created
Eft	EFTAnswerReceived	When the EFT answer is received
Eft	EFTAnswerProcessed	When the EFT answer is processed
Eft	NotEnoughBalanceInWalletError	When the wallet has not balance enough

Testing

To simulate an EFT failure, include an event name from the list above in the COMMENT field when creating a transaction. If you don't mention an event in the COMMENT, the transaction will change its status to "Completed" in the sandbox environment.

Examples:

Simulating success

{
  "ZumRailsType": "FundZumWallet",
  "TransactionMethod": "Eft",
  "Amount": 123.45,
  "Memo": "Memo description",
  "Comment": "This transaction will succeed because there's no keyword",
  "FundingSourceId": "1d431e8b-...85452adb4eee",
  "WalletId": "8ebd932b-...b92633e14297"
}

Simulating failure

{
  "ZumRailsType": "FundZumWallet",
  "TransactionMethod": "Eft",
  "Amount": 123.45,
  "Memo": "Memo description",
  "Comment": "EftFailedNoDebitAllowed", // Include event name in comment
  "FundingSourceId": "1d431e8b-...85452adb4eee",
  "WalletId": "8ebd932b-...b92633e14297"
}