Fiat out

Neutron supports sending fiat payouts to local bank accounts or mobile money systems in selected countries. This is handled through the destReq object in a transaction request.

Neutron lets you convert BTC to local fiat currency and send payouts directly to bank accounts or mobile money wallets. This guide covers the full payout flow.

Payout Flow

1. Authenticate       →  GET access token
2. Look up bank codes →  GET /api/v2/reference/fiat-institution/by-country/{countryCode}
3. Create transaction →  POST /api/v2/transaction/
4. Confirm            →  PUT /api/v2/transaction/{txnId}/confirm
5. Monitor            →  Webhook callback or GET /api/v2/transaction/{txnId}

Supported Payout Destinations

Country	Currency	Payout Method	Method Code
Canada	CAD	Bank (EFT, Interac)	cad-interac
India	INR	Bank transfer	inr-bank
Indonesia	IDR	Bank, Mobile	idr-bank
Kenya	KES	Mobile money	ke-kes-mobile
Malaysia	MYR	Bank, Mobile	myr-bank, myr-mobile
Nigeria	NGN	Bank, Mobile	ng-ngn-bank, ng-ngn-mobile
Philippines	PHP	Bank, Mobile	ph-php-bank
Rwanda	RWF	Mobile money	rw-rwf-mobile,rw-rwf-bank
Singapore	SGD	Bank transfer	sg-sgd-bank
South Korea	KRW	Bank transfer	krw-bank
Thailand	THB	Bank transfer	thb-bank
Vietnam	VND	Bank (instant)	vnd-instant
Benin	XOF	Mobile money	bj-xof-mobile
Côte d'Ivoire	XOF	Mobile money	ci-xof-mobile
Ghana	GHS	Mobile money	gh-ghs-mobile
Senegal	XOF	Mobile money	sn-xof-mobile
Taiwan	TWD	Bank	tw-twd-mobile
Cambodia	USD	Mobile money	kh-usd-mobile

Step 1: Look Up Bank Codes

Before creating a payout, you need the correct institutionCode for the recipient's bank. Use the Get fiat institution by country endpoint:

GET /api/v2/reference/fiat-institution/by-country/VN

Response:

JSON

{
  "banks": [
    {
      "institutionCode": "TPBVVNVX",
      "institutionType": "bank",
      "institutionName": "TPBank"
    },
    {
      "institutionCode": "ICBVVNVX",
      "institutionType": "bank",
      "institutionName": "VietinBank"
    }
  ],
  "mobiles": [
    {
      "institutionCode": "ICBVVNVY",
      "institutionType": "mobile",
      "institutionName": "Viettel"
    }
  ]
}

⚠️

Not all countries support this endpoint. For countries without lookup support, contact Neutron for the required institution codes.

Step 2: Create the Transaction

Fiat payouts require KYC information on both the sender (sourceReq.kyc) and recipient (destReq.kyc), plus a sourceOfFunds declaration for international transfers.

Full Example — VND Bank Payout

JSON

POST /api/v2/transaction/

{
  "sourceReq": {
    "ccy": "BTC",
    "method": "neutronpay",
    "reqDetails": {},
    "kyc": {
      "type": "individual",
      "details": {
        "legalFullName": "John Doe",
        "countryCode": "CA",
        "contactNumber": "[phone]",
        "address1": "147 Maple Grove Avenue, Winnipeg, Manitoba R3K 0V8"
      }
    }
  },
  "destReq": {
    "ccy": "VND",
    "amtRequested": 1000000,
    "method": "vnd-instant",
    "reqDetails": {
      "acctName": "Tran Van A",
      "acctNum": "590061086034",
      "institutionCode": "TPBVVNVX",
      "institutionName": "TPBank"
    },
    "kyc": {
      "type": "individual",
      "details": {
        "legalFullName": "Tran Van A",
        "countryCode": "VN",
        "contactNumber": "[phone]",
        "address1": "135 Nam Ky Khoi Nghia, Ben Thanh ward, District 1, Ho Chi Minh city"
      }
    }
  },
  "sourceOfFunds": {
    "purpose": 1,
    "source": 5,
    "relationship": 4
  }
}

Key Fields Explained

Field	Description
destReq.ccy	The fiat currency code (e.g., VND, NGN, USD)
destReq.amtRequested	The payout amount in fiat (not BTC). Set the amount on destReq only — the BTC amount auto-calculates
destReq.method	The payout method code from the supported destinations table
destReq.reqDetails.acctName	Recipient's name as it appears on their bank account
destReq.reqDetails.acctNum	Recipient's bank account number
destReq.reqDetails.institutionCode	Bank code from the institution lookup
destReq.reqDetails.institutionName	Bank name (for display/verification)
sourceReq.kyc	Sender's identity — required for all fiat payouts
destReq.kyc	Recipient's identity — required for all fiat payouts
sourceOfFunds	Required for international transfers — see Source of Funds

KYC Details

Both sender and recipient KYC objects follow the same structure:

JSON

{
  "type": "individual",
  "details": {
    "legalFullName": "Full legal name",
    "countryCode": "XX",
    "contactNumber": "[phone]",
    "address1": "Full street address"
  }
}

Field	Required	Description
type	Yes	"individual" or "business"
legalFullName	Yes	Full legal name (individual) or registered business name
countryCode	Yes	ISO 3166-1 alpha-2 country code
contactNumber	Varies	Phone number with country code
address1	Varies	Street address

📘

KYC is only required for fiat payouts. BTC, Lightning, and stablecoin transactions do not require KYC.

Step 3: Confirm the Transaction

After creating the transaction, you'll receive a txnId and the quoted exchange rate. Review the quote, then confirm:

PUT /api/v2/transaction/{txnId}/confirm

The BTC equivalent will be deducted from your Neutron wallet and the fiat payout will be initiated.

Step 4: Monitor Status

Track the payout via webhooks (recommended) or by polling:

GET /api/v2/transaction/{txnId}

Fiat payouts typically settle within minutes for instant methods (e.g., vnd-instant) and 1–3 business days for standard bank transfers. See Transaction Status Types for all possible states.

Mobile Money Payouts

For mobile money destinations, the reqDetails fields differ slightly:

JSON

"destReq": {
  "ccy": "KES",
  "amtRequested": 5000,
  "method": "mobile",
  "reqDetails": {
    "acctName": "Jane Wanjiku",
    "acctNum": "[phone]",
    "institutionCode": "MPESA",
    "institutionName": "M-Pesa"
  }
}

For mobile payouts, acctNum is the recipient's mobile number including country code.

Common Errors

Error	Cause	Solution
Missing KYC	sourceReq.kyc or destReq.kyc not provided	Both sender and recipient KYC are required for fiat payouts
Invalid institution code	Unrecognized institutionCode	Use the institution lookup endpoint to get valid codes
Unsupported country/method	Country or method not in the supported list	Check the supported destinations table above
Insufficient balance	Not enough BTC in your Neutron wallet	Deposit BTC via Lightning or on-chain before initiating the payout