Depending on applicable regulations or business limitations, specific API requests may not be available for your use.

Create a Cash Transaction

This request is used to create a deposit or withdrawal cash transaction to move funds into and out of a Folio account.

• Please note that there are numerous restrictions related to deposits/withdrawals into different types of Folio accounts based upon account and user characteristics (e.g., no contributions into a traditional IRA or rollover IRA when the account owner is over 70½ years old; certain states have defined minimum withholdings from IRA accounts; etc.) which will be checked when sent through this API and or when the funds are received at Folio. Learn more in the Folio Institutional Help Center.
• The system will reject attempts to create transactions after the 12:00:00pm EDT for the current date. If the current time is after 12:00:00, the transactions must be future dated.
• The system will reject transactions that fall on non-settlement days (holidays or weekends),
• The system will reject attempts to create transactions with account restrictions.
• The system will allow transactions to be created on unverified banklinks. However, the system will not process those transactions until the banklinks are verified, request date notwithstanding.
• The system will reject attempts to create transactions with amounts less than $0.01.
• The system will reject attempts to create transactions using deleted banklinks.
• The system will reject attempts to create transactions where the banklink is newer than the transaction. In other words, the transaction request date cannot precede the banklink creation date.
• The system will reject attempts to create transactions using banklinks with no explicit relationship with the account.
• In terms of the error messages, process date equals request date.

Deposit

• The contribution year is the current year UNLESS the deposit occurs between 01/01/ 12:00:00am EDT and 04/15/ 11:59:59pm EDT in which case the contribution year could be the current or previous year. For 2018, the contribution year can be the previous year until 04/17/2018 11:59:59pm.
• The ira contribution year is required for one-time ira deposits. The system will reject deposits without a contribution year provided with the transaction request.
• The ira contribution year SHOULD NOT be sent with recurring ira deposit requests.
• The system will enforce deposit limits for the target account. The default system limit is $100,000.00.
• The system will reject attempts to create transactions for IRA accounts where the amount exceeds IRA contribution limits.
• The system WILL NOT enforce yearly IRA contribution limits. Five $4000.00 Traditional IRA contributions are allowed.

Withdrawal

• The system will perform an immediate cash availability check on a transaction if the request date is the current date prior to 12:00pm EDT, otherwise, the cash availability check occurs on the requested date.
• The system will enforce withdrawal limits for the target account. The default system limit is $200,000.00 over a 30 day period.
• The system requires that withholding information is provided if the withdrawal is from non-ROTH IRA account.
• The withholding types can be represented as fixed dollar('D') or percentage('P'). If you select those options, the witholding amounts MUST be greater than 0.00.
• To elect not to withhold, option NONE('N') must be used. Withholding amounts of 0.00 can then be used.
• Withholding types can be mixed and match. For example, state withholding can be a percentage, while fed can be a fixed dollar amount.
• The sum of state and fed withholding amounts cannot exceed the requested withdrawal amount.
• Different states can have different withholding amounts. Distributions from your IRA are subject to state taxes which vary by state. See State Income Tax table for more information. The system will verify state withholding amoutns in accordance with that state's tax rules.

Request URL

Request Data Fields

Request Example: Successful Deposit Creation

POST /restapi/accounts/RA1234ABCD/cashtransactions HTTP/1.1
Content-Type: application/json
{
	"amount" : "250",
	"processDate" : "2016-11-09T15:07:38.360-05:00",
	"repeatType" : "0",
	"sourceId" : "2594073385611396851",
	"targetId" : "RA1234ABCD",
	"transactionType" : "AHD"
}

Response Example 1: Successful Deposit Creation

If the deposit success, the system will return a '201 Created' with location information.

HTTP/1.1 201 Created
Date: Wed, 20 Jul 2016 20:18:30 GMT
Location: http://api.uat.foliofn.com/restapi/accounts/RA1234ABCD/cashtransactions/2017612635063278223
Content-Length: 0
Content-Language: en

Response Example 2: Failure due to deposit request with 0.0 transfer amount

If the deposit attempt fails, the system will return a '400 Bad Request' with information regarding the nature of the error in the response body.
The error code is returned in the 'errorCode' field, while the 'message' field contains information about the actually error.

HTTP/1.1 400 Bad Request
Date: Fri, 29 Jul 2016 15:10:59 GMT
Location: https://api.uat.foliofn.com/restapi/accounts/RA1234ABCD/cashtransactions
Content-Type: application/json
Transfer-Encoding: chunked
[
	 {
	  "type":"VALIDATION_FIELD",
	  "field":"amount",
	  "errorCode":"1003",
	  "message":"Invalid field value"
	  }
]

Response Example 3: Failure due to deposit request with non-settlement date of 07/30/2016 (Saturday) and amount exceeds maximum amount limit in request body

If the deposit attempt fails, the system will return a '400 Bad Request' with information regarding the nature of the error in the response body.
The error code is returned in the 'errorCode' field, while the 'message' field contains information about the actually error.

HTTP/1.1 400 Bad Request
Date: Fri, 29 Jul 2016 15:10:59 GMT
Location: https://api.uat.foliofn.com/restapi/accounts/RA1234ABCD/cashtransactions
Content-Type: application/json
Transfer-Encoding: chunked
[
	 {
	  "type":"VALIDATION_RULE",
	  "errorCode":"",
	  "message":""
	  },
	  {
	  "type":"VALIDATION_RULE",
	  "errorCode":"",
	  "message":""
	  }
]

Error Codes

This section captures the error codes returned by the API.

It should be noted that some errors are strictly internal errors that API consumers are never expected to encounter during the course of normal operations. They are most likely caused by a bug in the API or some other internal issue. For those errors, the only solution is to contact apisupport@folioinstitutional.com.

Change Log

09/26/2019

1. Added timezone info and date format.

05/30/2019

1. 9060 Error code added to the list.

05/11/2018

1. 9058 Error code added to the list.

02/02/2018

1. Updated Deposit information related to ira deposits.
2. 9057 Error code added to the list.

12/02/2016

1. Use accountnumber for folio accounts for either source or target Id.
2. Rename sourceOid & targetOid to sourceId & targetId
3. Require that frequency always be specified, including for one-time
4. Updated supported transactionType
5. Updated supported repeatType

10/07/2016

1. Request Data Fields, Request Example and Error Codes updated

09/09/2016

1. Created page