Book Transfers

Overview

Book Transfers are an easy way for Clients or Customers to manage cash and assets between accounts that are managed by Newline. These Transfers are unique from the other payment rails for two key reasons: first, they are only available between general Synthetic Accounts and second, they are allowable between accounts owned by the same Customer.

Keywords: Book Transfer; Internal Transfer; Me-to-me; liquidity management

Counterparty requirements

Because Book Transfers require that the counterparty also be the originator, this reduces the amount of information required to initiate a Transfer. Please see the below table for the fields required.

Field	Context	Required/Optional
`destination_synthetic_account_uid`	This is the `general` Synthetic Account in question being credited by the Book Transfer.	Required

Constraints

Ownership requirements and internal status

As described above, Book Transfers occur internally and between two accounts owned by the same Customer. This means Book Transfers cannot be used to initiate a payment outside of Newline to an external financial institution or to a party other than the originator.

Clients and Customers should refer to our ACH, Instant Payments, and Wire rails for any payments case beyond the above scope.

Operational windows & settlement times

Because Book Transfers are wholly internal, funds are available immediately after the Transfer (and subsequent Transaction) are successfully processed and enter a settled state. Book Transfers can also be received by Newline 24x7.