Log a bucket transfer

This request creates a bucket transfer on a line of credit account.

 Click to learn more about bucket transfers

Bucket Transfers

On a line of credit account, a borrower's balance is divided between several buckets which each have their own credit limit and interest rate. You can, however, transfer the balance of one bucket to another. Here's what you need to know about this request:

  • The LineOfCreditBucketTransferTransactions object holds bucket transfer information, and it's nested within the LineOfCredits entity.
  • Bucket transfers require a "from" bucket and a "to" bucket. Both buckets must be currently active on the account.
  • Balance transfers can also be edited and reversed. To do so, include the ID of the balance transfer and the "__update": true parameter in the payload. See the payload samples below for examples.

For an example of how bucket transfers work in the UI, take a look at our Line of Credit – Log a Bucket Transfer article.

Database

For information regarding line of credit charge database tables, see the following articles:

{
    "LineOfCreditBucketTransferTransactions": {
        "results": [
            {
                "status": "lineOfCredit.transactionStatus.active",
                "description": "Bucket Transfer 1",
                "amount": 57.39,
                "fromBucket": 1,
                "toBucket": 2,
                "applyDate": "2023-09-19"
            }
        ]
    }
}
{
    "LineOfCreditBucketTransferTransactions": {
        "results": [
            {
                "__id": 232,
                "__update": true,
                "status": "lineOfCredit.transactionStatus.active",
                "description": "Bucket Transfer 1",
                "amount": 57.39,
                "fromBucket": 1,
                "toBucket": 2,
                "applyDate": "2023-09-19"
            }
        ]
    }
}
{
    "LineOfCreditBucketTransferTransactions": {
        "results": [
            {
                "__id": 232,
                "__update": true,
                "status": "lineOfCredit.transactionStatus.reversed"
            }
        ]
    }
}
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