When a field in an API response or webhook payload references one of these types, you can find its full definition here.

Beneficiary Details

The bank account details of a payment beneficiary.

Field	Type	Description
`name`	string	The name of the beneficiary
`identifier`	OneOf	The account identifier - see variants below

Identifier variants:

Variant	Field	Description
`iban`	`iban`	IBAN of the beneficiary account. Used for AED, EUR, and GBP payments.
`wire`	`account_number`	Account number of the beneficiary. Used for USD payments
`wire`	`routing_number`	Routing number of the beneficiary bank. Used for USD payments
`scan`	`account_number`	Account number of the beneficiary. Used for GBP payments.
`scan`	`sort_code`	Beneficiary bank sort code. Used for GBP payments.

Failure Reason

The reason a payment, transfer, or exchange operation failed. Returned as part of _failed webhook events and failed API responses.

Value	Description
`bank_error`	The payment was rejected by the bank. Includes a string with the specific bank error message
`insufficient_funds`	The debit account does not have enough funds to complete the operation
`internal_accounts_differ`	The accounts are on different internal accounts - some operations such as internal transfers are not permitted
`quote_error`	An error generating quote needed for a payment
`system_error`	An unexpected system error occurred while processing the operation

Payment Statuses

The states a payment can be in during its lifecycle. Executed, Failed, and Settled are terminal states.

Status	Description	Terminal?
`Created`	Payment has been created in the Lorum system	❌
`Submitted`	Payment has been submitted to the scheme for processing	❌
`Executed`	Payment has been processed by the scheme. For outbound payments, funds may still take time to arrive in the beneficiary account	✅
`Failed`	Payment failed to process	✅
`Settled`	Inbound payments only - payment has been received and credited to the account	✅

Purpose Codes

The purpose of a transaction. Passed when creating payments and returned in payment webhook events.

Code	Description
`charity`	Charitable donation or contribution
`commercial_investment`	Commercial investment activity
`corporate_card`	Corporate card payment
`credit_card`	Credit card payment
`dividend`	Dividend payment to shareholders
`family`	Family support or personal remittance
`financial_services`	Payment for financial services
`goods_sold`	Payment for goods sold
`goods_bought`	Payment for goods purchased
`government`	Government-related payment
`insurance`	Insurance premium or claim
`intergroup_transfer`	Transfer between entities within the same group
`intra_group_dividends`	Dividend payment within a corporate group
`information_technology`	Payment for IT services or products
`leasing`	Lease or rental of assets
`loan_charges`	Loan repayment or associated charges
`merchant_settlement`	Settlement of merchant transactions
`mobile_wallet`	Mobile wallet top-up or transfer
`non_resident_transfer_between_accounts`	Transfer between accounts where the account holder is not a resident of the operating country
`none`	No specific purpose - use when the purpose is unknown or not applicable
`pension`	Pension payment or contribution
`prepaid_cards`	Prepaid card loading or payment
`personal_expenses`	Personal expense payment
`professional`	Payment for professional services
`rental`	Rental payment
`resident_transfer_between_accounts`	Transfer between accounts where the account holder is a resident of the operating country
`salaries`	Salary or payroll payment
`telecommunications`	Payment for telecommunications services
`travel`	Travel-related payment
`utility_bill`	Utility bill payment