Payment rules

After you have set up your accounts and are able to send and receive payments, you can start automating your payment flows. For example, when a payment is received into an account, you might want to automatically forward 10% of the money to to an external company account and the remaining 90% to an external client account. This can be done using our Payment Rule functionality.

Before creating any rules, you will need to have Accounts and Beneficiaries setup, as rules need a Modulr account to be applied to, and at least one beneficiary's unique reference as a destination.

Types of rules

Split

Incoming payments are automatically split into specified percentages to beneficiaries. Split percentages can be specified up to 2 decimal places.

Conditional Split

Incoming payments are automatically split into specified percentages to beneficiaries until a fixed amount is met. Thereafter, incoming payments can be automatically split to a different set of beneficiaries, or can remain in the account.

Sweep

At a specified frequency, all money in an account will be automatically transferred into a beneficiary account. This process runs at 3pm UK time. Optional settings allow the rule to only run if the balance is above a certain amount, and to leave a certain amount in the account after the sweep has run.

Funding

When there is an outgoing payment from an account that does not have sufficient funds, the account can be automatically funded from a secondary account. This rule is only available if the ‘Hold For Funds’ feature has been enabled.

Examples of payment rules

Split
Move 7.25% of each incoming payment to a beneficiary.

{
    "name": "Split Example",
    "type": "SPLIT",
    "accountId": "A1000001",
    "data": {
        "splits": [
            {
                "percent": "7.25",
                "destinationId": "B1000001"
            }
        ]
    }
}

Conditional Split
When an incoming payment is received, transfer 10% to B1000001 and 5% to B1000002 until 100 GBP has been sent to B1000001. The remaining 85% remains in account. Once the amount of 100 GBP has been met, 100% of incoming payments will be transferred to B1000003.

{
    "name": "Conditional Split Example",
    "type": "SPLIT",
    "accountId": "A1000001",
    "data": {
        "splits": [
            {
                "percent": "100",
                "destinationId": "B1000003"
            }
        ],
        "conditionalSplits": [
            {
                "percent": "5",
                "destinationId": "B1000002"
            }
        ],
        "conditionalSplitConfig": {
            "percent": "10",
            "destinationId": "B1000001",
            "conditionAmount": 100
        }
    }
}

Sweep
Each day all funds will be automatically transferred to B1000001.

{
    "name": "Sweep Example",
    "type": "SWEEP",
    "accountId": "A1000001",
    "data": {
        "daysToRun": [
            "MONDAY",
            "TUESDAY",
            "WEDNESDAY",
            "THURSDAY",
            "FRIDAY",
            "SATURDAY",
            "SUNDAY"
        ],
        "frequency": "Daily",
        "destinationId": "B1000001"
    }
}

Funding
The account A1000001 will be funded from secondary account A1000002 if required.

{
    "name": "Funding Example",
    "type": "FUNDING",
    "accountId": "A1000001",
    "data": {
        "sourceId": "A1000002"
    }
}

Example Scenario

Collecting 10% commission automatically from each Modulr Customer account into one Modulr account, which then gets transferred daily to an external account.

To do this you will need to set up a Split rule on all your Customer accounts that transfers 10% of any payment into their accounts into your main Modulr account, then setup a daily Sweep rule on your main Modulr account.