Purpose of Payments
Purpose of payment codes
When submitting a payout request, you must include a purposeId to classify the nature of the payment. This is required for all outbound payments and mandatory when attaching a supporting document.
Call the Get Purpose Codes endpoint to retrieve the current list of valid purposeId values for your account.
Outbound purpose codes (for sending payments)
We always recommend using the get purpose codes endpoint, as purpose codes may by specific to some corridors, or may not be supported for all methods.
| ID | Purpose |
|---|---|
268 | Payment for Purchase of Goods / Merchandise |
269 | Payment for Services (Professional, Contract) |
270 | Professional Fees Payment |
271 | Payroll / Salary / Wages |
272 | Contractor / Freelancer Payments |
273 | Business Travel & Entertainment |
274 | Research & Development Payments |
275 | Royalties / License Fees |
276 | Supplier / Vendor Settlement |
277 | Investment / Capital Injection |
278 | Loan Repayment |
279 | Loan Disbursement |
280 | Bill Payments |
281 | Government Fees / Taxes |
282 | Own Account / Subsidiary Transfer (Outbound) |
283 | Education Payments |
284 | Medical Payments |
285 | Gift |
286 | Charity / Donation |
287 | Personal Remittance |
Inbound purpose codes (for recieving payments)
| ID | Purpose |
|---|---|
248 | Receiving Payment for sale of goods / merchandise |
249 | Receiving Funds for Professional or Contracted Services |
250 | Receiving Salary or Wages from Employer |
251 | Receiving Contractor Income |
252 | Reimbursement for Business travel or expenses |
253 | Funding Received for Research or Development |
254 | Receiving License Fees |
255 | Receiving Investment for capital funding |
256 | Receiving repayment for a loan previously issued |
257 | Receiving loan funds from a lender |
258 | Receiving refund for bill payments |
259 | Receiving government incentive / grant |
260 | Receiving PSP settlement |
261 | Own Account / Subsidiary Transfer (Inbound) |
262 | Receiving medical reimbursement |
263 | Receiving tuition / training income |
264 | Receiving gift |
265 | Receiving charity donation |
266 | Receiving remittance (e.g. personal use) |
267 | Refund |
Filtering
Valid purpose codes may be filtered based on your entity type (corporate vs individual) and currency restrictions (i.e not all purposes are supported to all markets).
Call the Get Purpose Codes endpoint to retrieve the exact list applicable to your account and payment type.
Migrating from legacy purpose codes
If you are migrating from v1.0 to v1.1, the table below maps legacy purpose code names to their new equivalents. Legacy values will continue to be accepted during the deprecation period, but you should update your integration to use the new purpose codes before 31 January 2027.
Some legacy codes map to more than one new code. Where this is the case,select the new code that most accurately describes the nature of your payment.
| Legacy purpose code | New purpose code(s) |
|---|---|
| Purchase of Good(s) | Payment for Purchase of Goods / Merchandise |
| Purchase of Professional Service(s) | Payment for Services (Professional, Contract) · Contractor / Freelancer Payments · Supplier / Vendor Settlement |
| Professional Fees Payment | Professional Fees Payment · Royalties / License Fees |
| Payroll/Personnel Payment | Payroll / Salary / Wages |
| Travel/Hospitality | Business Travel & Entertainment |
| Research and Development | Research & Development Payments |
| Investment | Investment / Capital Injection |
| Payment for a loan or deposit | Loan Repayment · Loan Disbursement |
| Bill payment | Bill Payments · Government Fees / Taxes · Education Payments |
| Internal Company Transfer | Own Account / Subsidiary Transfer (Outbound) |
| Medical Claim Reimbursement | Medical Payments |
| Payment, Family Assistance | Gift · Charity / Donation · Personal Remittance |
Legacy values are acceptedUpdate your integration to use the new purpose codes for best practise, if submitting old codes Verto will map purposes automatically for the meantime. We recommend migration as we will deprecate this functionality at some point.