By Dana Weinstein, Director of Product Management

Orum added a new GET/ balance endpoint to our API suite to allow customers to query for their Orum balances. You can now obtain balances at any point during the day, night, or weekend – supplementing already existing reporting provided by Orum Payment Operations and Finance to customers.

The API provides the current “pending balance” and “available balance” for a customer. For those new to money movement, the “pending balance” refers to funds in the Orum balance that cannot yet be spent or transferred. The “available balance” refers to funds that are available to spend right now. 

This has been a long-requested feature from our customers. And we’re excited to deliver for you!

Use Cases for the Balance API

There are several benefits to utilizing the Balance API:

  • Ensure you have sufficient funds in your balance to accommodate expected daily volume and potential spikes
    • You can check your balance periodically throughout a day, for example by linking this API up to an internal dashboard
    • Query for the balance prior to every payout or disbursement to ensure enough funds are in the FBO to support the transfer request
  • Track the amount of funds stored in your balance so you don’t prefund more than you need to. E.g. you can pull or push funds into the FBO on a schedule once your balance hits a certain threshold.

Does the Balance API provide up-to-the-minute data?

Even better! The Balance API shows up-to-the-second availability of the balances without delays between financial events and availability of the information in the API. If you’re new to Orum, we offer the simplest API integration for instant payouts. Our easy-to-integrate API allows you to implement instant payouts – as well as ACH, Same Day ACH, RTP, Wires, and more – into your platform as fast as two days. You save money by avoiding engineering and operating costs, enjoy informed partner support, and gain access to all major rails-creating new revenue streams without costly bank integrations or prolonged compliance. (We recently gave you a deep dive into our unified API.)

How Does the Balance API work?

The API returns the current pending and available balance amounts for a customer in integral cents.

Example GET/ balance request:

curl --request GET \
     --url \
     --header 'Orum-Version: v2022-09-21' \
     --header 'X-API-Key: {api_key}' \
     --header 'accept: application/json' \
     --header 'authorization: Bearer {auth_token}'

Example GET/ balance response:

    "balance": {
        "available": 1000,
        "pending": 200,
        "currency": “USD”,
        "updated_at": "2023-01-30T14:12:20.220168Z"