Overview

Wire drawdowns, also known as reverse wires, are a type of wire payment where funds are pulled from an account to a counterparty's account.

This is the opposite of a standard wire payment, where funds are pushed from one account to the counterparty's account.

Currently, we only support receiving wire drawdown requests (incoming drawdown), not originating them. This means that you can receive a drawdown request from another party's account, and choose to approve it and send the funds, but you cannot initiate a request to pull funds from another party's account.

Availability varies by bank partner.