End of Day Settlement

Batch fiat payouts into a single daily settlement instead of paying out each transaction individually.

By default, every offramp transaction triggers an immediate payout to the recipient bank account. End of Day (EOD) Settlement changes this behaviour: individual payouts are accumulated throughout the day and settled in a single batch transfer at the end of the business day.

This is useful when a customer receives many small offramp transactions and prefers fewer, consolidated bank transfers rather than one transfer per transaction.

How It Works

Without EOD Settlement (default)

Each offramp transaction is processed independently. As soon as conversion completes, Iron initiates a separate fiat transfer to the recipient bank account.

Transaction 1 (100 USDC → EUR)  →  Payout 1 (€91.20)
Transaction 2 (250 USDC → EUR)  →  Payout 2 (€228.00)
Transaction 3 (50 USDC → EUR)   →  Payout 3 (€45.60)

With EOD Settlement

Transactions are converted as they arrive, but payouts are held and combined into a single transfer at the end of the business day.

Transaction 1 (100 USDC → EUR)  ┐
Transaction 2 (250 USDC → EUR)  ├→  Single Payout (€364.80)
Transaction 3 (50 USDC → EUR)   ┘

Enabling EOD Settlement

Set batch_payout to true when creating an offramp Autoramp. This setting applies to all transactions processed through that Autoramp.

POST /autoramps

Request fields

Field	Type	Required	Description
batch_payout	boolean	No	If true, payouts are batched daily instead of sent individually. Defaults to false. Fiat destinations only.

batch_payout only applies to offramp Autoramps with a fiat destination. It is ignored for onramp and swap Autoramps.

Request

Bash

curl -X POST "https://api.sandbox.iron.xyz/api/autoramps" \
  -H "Content-Type: application/json; charset=utf-8" \
  -H "IDEMPOTENCY-KEY: <your-idempotency-key>" \
  -H "X-API-Key: <your-api-key>" \
  -d '{
    "source_currencies": [{
      "type": "Crypto",
      "token": "USDC",
      "blockchain": "Ethereum"
    }],
    "destination_currency": {
      "type": "Fiat",
      "code": "EUR"
    },
    "recipient_account": {
      "type": "Fiat",
      "account_identifier": {
        "type": "SEPA",
        "iban": "DE89370400440532013000"
      }
    },
    "customer_id": "123e4567-e89b-12d3-a456-426614174000",
    "source_is_third_party": false,
    "batch_payout": true
  }'

Response

{
  "id": "9a7b6c5d-e3f1-4g2h-8i7j-6k5l4m3n2o1p",
  "status": "Authorized",
  "batch_payout": true,
  "deposit_rails": [
    {
      "type": "Wallet",
      "id": "xyz98765-lkjh-4321-mnop-0987654321ab",
      "blockchain": "Ethereum",
      "address": "0xYourEthereumAddress",
      "currency": {
        "type": "Crypto",
        "token": "USDC",
        "blockchain": "Ethereum"
      }
    }
  ],
  "created_at": "2025-01-20T13:45:23Z"
}

Transaction Lifecycle

When EOD Settlement is enabled, transactions follow a modified lifecycle where conversion happens immediately but the fiat payout is deferred until end of day.

Step	What happens	Webhook event
Deposit received	Crypto arrives at the Autoramp deposit address	transaction
Conversion	Crypto is converted to fiat at the current or locked rate	transaction_status (ConversionInProgress)
Awaiting batch	Converted fiat amount is held for end-of-day settlement	transaction_status (PayoutPending)
Batch payout	All pending amounts are paid out in a single fiat transfer	transaction_status (Completed)

Individual transactions are still tracked separately. Only the fiat payout step is batched — you retain full visibility into every transaction via the API and webhooks.

Webhooks

When EOD Settlement is enabled, webhook behaviour changes slightly:

• transaction and transaction_status events are still emitted for each individual transaction as it is received and converted.
• The transaction_status for individual transactions will reflect the conversion state. The payout portion settles at end of day.
• A final transaction_status webhook with transaction_status: "Completed" is sent once the batched payout has been executed and confirmed.

Fees

Fee deduction works the same way regardless of whether EOD Settlement is enabled. Fees (transaction fee, banking fee, network fee) are calculated and applied per transaction according to your fee profile.

The banking fee is charged once per batched payout rather than per individual transaction, which can reduce overall costs for high-frequency offramp flows.

Constraints

• Fiat destinations only. batch_payout is ignored for crypto-to-crypto swaps and onramp Autoramps. It only applies when the destination is a fiat bank account (offramp).
• Autoramp-level setting. The batch behaviour is configured per Autoramp. You can have some Autoramps with immediate payouts and others with EOD settlement for the same customer.
• Cannot be changed after creation. To switch between immediate and batched payouts, create a new Autoramp with the desired setting.

When to Use EOD Settlement

Scenario	Recommended
High-frequency offramps (many small transactions per day)	Yes — reduces bank transfer volume and banking fees
Treasury management with daily reconciliation	Yes — one settlement per day simplifies accounting
Real-time payouts required by end customers	No — use default immediate payouts
Low-frequency offramps (a few transactions per week)	No — batching provides little benefit

Sandbox Testing

In Sandbox, you can simulate the full EOD Settlement flow.

1. Create an offramp Autoramp with batch_payout enabled

   Use the request above with "batch_payout": true.

2. Approve the Autoramp

   curl -X PUT "https://api.sandbox.iron.xyz/api/sandbox/autoramp/<autoramp_id>" \
     -H "Content-Type: application/json" \
     -H "X-API-Key: $API_KEY" \
     -d '"Approved"'
   
3. Create multiple sandbox transactions

   curl -X POST "https://api.sandbox.iron.xyz/api/sandbox/transaction" \
     -H "Content-Type: application/json" \
     -H "IDEMPOTENCY-KEY: $(uuidgen)" \
     -H "X-API-Key: $API_KEY" \
     -d '{
       "autoramp_id": "<autoramp_id>",
       "amount": "100"
     }'
   

   Repeat to create several transactions against the same Autoramp.

4. Complete the transactions

   curl -X PUT "https://api.sandbox.iron.xyz/api/sandbox/transaction/<transaction_id>/state" \
     -H "Content-Type: application/json" \
     -H "IDEMPOTENCY-KEY: $(uuidgen)" \
     -H "X-API-Key: $API_KEY" \
     -d '{ "state": "Completed" }'
   

In Sandbox, batch settlement is simulated — transactions complete immediately when you advance their state rather than waiting for end of day.