Introducing Funding Wallets for Broker API: Streamlining Fund Deposits for an Enhanced User Experience

We're thrilled to present a product solution that will streamline the way you handle fund deposits and elevate your users' experience: Funding Wallets for Broker API🚀

This innovative feature is designed to eliminate wire transfer hassles and manual errors with an automated solution. Allow your end-users to seamlessly deposit and withdraw funds in their local currency using local rails for faster settlement. Furthermore, each of your end-users will receive a unique funding wallet number, ensuring precise allocation to brokerage accounts. Discover the convenience, accuracy, and transparency that Funding Wallets API can provide, streamlining how fund management is handled.

Say Goodbye to Complex Wire Transfers and Special Instructions

In today's fast-paced world, we understand the importance of simplifying financial transactions. With Funding Wallets, your end-users will experience a seamless and intuitive fund deposit process. No longer will they need to navigate complex wire transfers or worry about specifying special instructions.

Funding Wallets leverages local rails, allowing for faster settlement times and enabling end-users to deposit funds in their local currency. (Alpaca will convert the applicable local currency to USD).  This provides an intuitive and user-friendly funding experience, ensuring a smooth journey for your end-users.

Helping Minimize Errors, Maximizing Efficiency with Funding Wallets

But that's not all – we understand the challenges of manual processes and the potential for errors. With Funding Wallets, we've taken proactive measures to address these concerns. Each end-user will have their own unique funding wallet number.

Through our automated system, deposited funds will be allocated to individual brokerage accounts seamlessly. This meticulous process aims for better precision and efficient fund allocation, significantly reducing the need for manual intervention and minimizing the risk of errors. It’s as simple as below one API call to create a new wallet.

Example of a Request and Response to Creating a Funding Wallet




    "account_id": "c639c7f8-f776-4fff-8477-aa1a03be5b5b",
    "created_at": "2023-07-07",
    "status": "active"
Request and Response to Creating a Funding Wallet

Key Product Features and Benefits

Streamlined Fund Deposits: Funding Wallets for Broker API enables your end-users to deposit and withdraw funds via local rails, resulting in faster settlement times and allowing deposits in local currencies, ensuring a more intuitive and user-friendly process. (Alpaca will convert the applicable currency to USD.)

Local Currency Support: Your end-users can deposit and withdraw funds in their local currency, enhancing convenience and user experience.

Improved Accuracy: Eliminate the need for your end-users to enter specific instructions within wire transfers. Funds deposited into individual Funding Wallets will be automatically aggregated and swept to our banking partner on a recurring basis, ensuring accurate allocation without manual intervention.

Enhanced Books & Records Processing: Funding Wallets can simplify fund management. Each end user's designated account will provide a clear record of their deposits, streamlining bookkeeping and auditing processes.

Visibility into Transfers: You will have access to real-time information regarding fund transfers. This enables you to provide timely updates to your end-user, fostering transparency and strengthening relationships.

Important Note: There is no cost or deposit fee associated with using Funding Wallets for Broker API. However, it's important to mention that withdrawal and FX fees will be applicable. For further details, please reach out to one of our experts.

Additional Resources

To learn more about Funding Wallets for Broker API, please check out our additional resources

If you are not yet a partner, speak with an expert by submitting our contact sales form below, specifying you would like to learn more about our Funding Wallets solution.

Contact Us

Securities brokerage services are provided by Alpaca Securities LLC ("Alpaca Securities"), member FINRA/SIPC, a wholly-owned subsidiary of AlpacaDB, Inc. Technology and services are offered by AlpacaDB, Inc.

This is not an offer, solicitation of an offer, or advice to buy or sell securities, or open a brokerage account  in any jurisdiction where Alpaca Securities is not registered or licensed, as applicable.

Interested in learning more about Broker API?

Don't miss out on any updates about our Broker API suite of solutions! Share your details with us and be the first to know about our latest content.

Author image
About Sonia Sethi
You've successfully subscribed to Alpaca Blog | Developer-First API for Stocks, Options, and Crypto
Great! Next, complete checkout for full access to Alpaca Blog | Developer-First API for Stocks, Options, and Crypto
Welcome back! You've successfully signed in.
Success! Your account is fully activated, you now have access to all content.