Overview

A book payment is an internal transfer of funds between two accounts within Unit's platform. Unlike external payment methods (ACH, wire, etc.), the funds never leave Unit's ledger system.

Book payments are free and instant fund transfers between two accounts under your organization. Common uses for book payments include:

• Moving funds between two accounts that belong to the same end-customer.
• Moving funds between two accounts that belong to different end-customers.
• Moving funds from clearing accounts to end-customer accounts.
• Moving funds from your organization's operational deposit account to a wallet account (for example, prefunding beneficiary wallets or just-in-time card funding).
• Moving funds from your organization's operational account to an end-customer deposit account.

Once you create a book payment, Unit will process it instantly and free of charge. The result will be one Book Transaction in each account.

Note

By default, the direction is Credit, moving funds from account to counterpartyAccount. Book payments support transfers between deposit accounts, wallet accounts, and financial business FBO accounts within the same organization — including from a deposit account to a wallet account.