> ## Documentation Index > Fetch the complete documentation index at: https://apidocs.hopnow.io/llms.txt > Use this file to discover all available pages before exploring further. # Money Movement A customer can hold funds in two places: a virtual account and a trading account. * A **virtual account** (`va_`), which has its own set of bank details in your (or your customer's) legal entity's name. Once a virtual account is designated as `active` and its group is `enabled`It can receive funds from and make payments to third parties.
See the onboarding flow. * A **trading account**, opened at signup and used to settle your FX trades. It can only receive funds from, and allow withdrawals to, the customer’s own accounts at other institutions. It cannot receive funds from or send funds to third parties. Funds may flow between the two account types via a transfer (`trf_`). ## Movement Actions | Action | Prefix | Description | | - | - | - | | Payin | `pi` | A deposit into a hop account from an external sender | | Payout | `po` | A transfer out of a hop account to an external receiver | | Transfer | `trf` | Cross money movement between your `virtual accounts` or `virtual account` and a `trading account` | | FX Trade | `fxt` | FX transaction in a `trading account` |
↳ Prerequisite: the virtual account is active and its group is enabled with onboarding approved. See the onboarding flow. A virtual account issued pending cannot receive or pay.
Youthe API caller Hopautomatic Bankpayer or payee
  1. Money in
  2. 1 You
    Get the payer the details for where the money should land
    1. 1a
      Trading account: read the deposit instructions, or create a wallet for crypto GET/accounts/\{aid}/deposit-instructions POST/accounts/\{aid}/wallets
    2. 1b
      Virtual account: read its bank details GET/accounts/\{aid}/virtual-account-groups/\{gid}/virtual-accounts/\{va\_id}
  3. 2 Bank
    Payer sends funds to those details over a supported rail, or on-chain ACH · Fedwire · SWIFT · SEPA · SPEI · PIX · FPS
  4. 3 Hop
    Credits the trading account or the virtual account the details belong to, and raises a payin payin.received pi\_
  5. Hold & convert
  6. 4 You
    Check the balances: the trading account and each virtual account are reported separately GET/customers/\{cid}/accounts/\{aid}/balances
  7. 5 You
    Move value between the trading account and a virtual account, or between two virtual accounts: same currency, settles at once POST/accounts/\{aid}/transfers trf\_
  8. 6 You
    Convert currency in the trading account: quote, then execute before it expires POST/accounts/\{aid}/fx/quotes · /execute fxt\_
  9. Money out
  10. 7 You
    Record who you are paying and where: a beneficiary, then a payout destination under it POST/beneficiaries · /payout-destinations bene\_ · dest\_
  11. 8 You
    Create the payout, naming the funding source POST/accounts/\{aid}/payouts po\_
    1. 8a
      Withdrawal from the trading account: funding\_source.type is trading\_account, the beneficiary must be self\_owned. Omit method.
    2. 8b
      Payout from a virtual account: funding\_source.type is virtual\_account, any active beneficiary. Include a top-level method for the selected payment rail.
  12. 9 Hop
    Holds the payout amount on the funding balance, and any service fee in the fee-paying account's trading account payout.created
  13. 10 Hop
    Submits to the provider once any approval has cleared status: processing
  14. 11 Bank
    Payee's bank credits the funds settlement
  15. 12 You
    Reconcile on the webhook, or poll the payout payout.completed · payout.failed GET/payouts/\{id}
Money in: a payin (pi\_) credited to a virtual account or the trading account, depending on which instruction the payer used. Money out: a payout (po\_) funded from either. Between them: a transfer (trf\_) to move value, and an FX trade (fxt\_) to change its currency.
## Outflows `funding_source` decides which balance is debited and which beneficiaries the payout may go to. | `funding_source` | Hop calls it | Use it for | | - | - | - | | `{"type": "virtual_account", "virtual_account_id": "va_…"}` | Payout | Paying third parties. | | `{"type": "trading_account"}` | Withdrawal | The default when omitted. The trading account may only pay a beneficiary marked `self_owned`: your own account elsewhere. | FX settles in the trading account, so converting money that arrived in a virtual account means transferring it across first, executing the trade, and transferring the proceeds back if you want to pay from a virtual account in the new currency. ## **Transaction limits** Most payment rails have high daily limits and no customer-level cap. For local USD payments, including ACH, Fedwire, RTP, and FedNow, our banking partners apply an aggregate daily limit of approximately \$50 million. SEPA Instant (`SEPA_INST`) has a limit of €1 million per transaction. There is no minimum transaction amount, but zero-value transactions are not allowed. Contact your account manager for the limits that apply to a specific payment rail or to request a higher limit. ## Service fees Hop may charge a fee when a virtual account is created or used to make a payout. Fees are debited from a trading account: * For customers onboarded directly by Hop, the fee is debited from the customer’s own trading account. * For end customers onboarded through a platform, the fee is debited from the platform’s fee-collection account. The end customer is not charged, and an insufficient balance in the fee-collection account does not block the payout.