Simple Funds Transfer

Overview

In the above diagram, the blue solid lines represent flows of money into and out of Pyxis. The green dotted lines represent transfers of funds within the system. Note that these transfers are virtual, no funds leave the Pyxis segregated client money account.

Description

Customer 1 holds a vault. The customer also has set up a debit card fund source.

Customer 2 also holds a vault. The customer has created a bank account fund source.

Workflow

1. Customer 1 adds funds to their wallet using their fund source.

2. At some later point in time they transfer funds from their wallet to Customer 2's wallet.

3. Customer 2 then decides to withdraw their funds and transfers them to their fund source.

More info

Funds can be held in wallets for an arbitrary amount of time. The transfer from Customer 1's wallet to Customer 2's wallet could happen immediately after they have paid in funds, or it could happen several days, weeks or even months later.

The same is true for the funds held in customer 2's wallet. The customer could wait days, weeks or months before transferring funds out.

Of course Customer 2 could be receiving funds from multiple customers, and can aggregate these funds into one withdrawal.