What Is Bank Transfer?
Bank transfer is a direct method of moving funds between a bank account and your Trinavo store wallet. Customers can deposit money into their store wallet by initiating a transfer from their bank, and merchants can configure bank transfer as an available wallet funding method. This is one of the most universally accessible payment methods, as it requires only a standard bank account.
Key Features
- Wide availability: Nearly every bank worldwide supports outgoing and incoming transfers, making this method accessible to virtually all customers.
- Deposit and withdrawal support: Bank transfers can be used both to fund a wallet (deposit) and to withdraw earnings or remaining balance from a wallet.
- No card required: Customers who do not have credit or debit cards can still participate in wallet-based transactions.
- Large transaction support: Bank transfers typically accommodate higher transaction limits compared to card payments, making them suitable for larger deposits.
- Audit trail: Every bank transfer generates a traceable record on both the sender's and receiver's bank statements, providing clear documentation for accounting purposes.
How It Works in Trinavo
Bank transfers in Trinavo are used specifically for wallet operations, not for direct checkout payments. Here is how the process works:
For wallet deposits: A customer selects bank transfer as their wallet funding method. Trinavo displays the store's bank account details, including the account number, bank name, and a unique reference code. The customer then initiates a transfer from their own bank. Once the merchant verifies the incoming transfer, the corresponding amount is credited to the customer's store wallet.
For wallet withdrawals: When a customer or vendor requests a withdrawal from their wallet balance, the merchant can process the payout via bank transfer to the recipient's provided bank account details.
Supported Regions and Currencies
Bank transfers are supported globally and work with any currency that the merchant's and customer's banks can handle. There are no geographic restrictions on this method, though transfer times and fees vary depending on whether the transfer is domestic or international.
Why Offer Bank Transfer on Your Trinavo Store
Including bank transfer as a wallet funding option ensures that customers without cards or digital wallets can still participate in your store's wallet ecosystem. It is especially valuable in markets where bank account penetration is high but card usage remains limited. For merchants, bank transfers provide a straightforward way to handle larger transactions and maintain clear financial records.
