This request creates a bucket transfer on a line of credit account.
Click here to learn more about this request
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. It is possible to transfer the balance of one bucket to another. Note the following when using 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 Bucket Transfer article.
Database
For information regarding line of credit charge database tables, see the following articles:
Database – Line of Credit Bucket Transfers (line_of_credit_bucket_transfer_entity)
Database – Line of Credit Setup Bucket (line_of_credit_setup_bucket_entity)
Database – Line of Credit Account (line_of_credit_entity)
{
"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"
}
]
}
}