The following table describes the different types of individual payments that RippleNet can process:
|Bank account to bank account||Transfer from the originator’s account to the beneficiary’s account, where the final receiving institution is the same as the beneficiary’s institution.|
|Bank account to bank account transfer (third-party account)||Transfer from the originator’s account to the beneficiary’s account at a third-party institution, where the receiving institution and beneficiary’s institution are different.
Third-party account transfers with the receiving institution use local clearing rails to forward the payment to the beneficiary’s institution:
|Bank account to cash||Transfer from the originator’s account to the beneficiary, who collects physical cash at the receiving institution.
|Bank account to wallet||Transfer from the originator’s account to the beneficiary, who receives money in their wallet. The money is credited to the beneficiary's wallet accounts in the form of digital representation.|
|Wallet to wallet||Transfer funds from the originator's wallet to the beneficiary's wallet.|
|Cash to bank account||The originator, using a branch, kiosk, or ATM, initiates a transfer in cash to the beneficiary, who receives money in their bank account. The beneficiary account can be at the receiving institution or a third-party institution.
|Bank account to card||Transfer from the originator’s account to a card (for example a remittance card) owned by the beneficiary. These cards are usually Visa or MasterCard cards and are a way of receiving money by the beneficiary, allowing the beneficiary to withdraw cash at any ATM and make payments at merchant establishments. The receiving and beneficiary institutions can be the same or different depending on who issues the card: the receiving Institution or another institution.|