diff --git a/packages/backend/src/accounting/psql/service.ts b/packages/backend/src/accounting/psql/service.ts
index 68d3294fe0..81d4709cb0 100644
--- a/packages/backend/src/accounting/psql/service.ts
+++ b/packages/backend/src/accounting/psql/service.ts
@@ -270,9 +270,8 @@ export async function createTransfer(
         )
       )
 
-      if (isTransferError(pendingTransfersOrError)) {
+      if (isTransferError(pendingTransfersOrError))
         return pendingTransfersOrError
-      }
 
       return pendingTransfersOrError.map(
         (pendingTransfer) => pendingTransfer.transferRef
diff --git a/packages/backend/src/accounting/service.ts b/packages/backend/src/accounting/service.ts
index eb71b3328a..f2c2f38c09 100644
--- a/packages/backend/src/accounting/service.ts
+++ b/packages/backend/src/accounting/service.ts
@@ -2,6 +2,7 @@ import { TransactionOrKnex } from 'objection'
 import { BaseService } from '../shared/baseService'
 import { TransferError, isTransferError } from './errors'
 import { AccountUserData128 } from './tigerbeetle/utils'
+import { convertToTigerBeetleTransferCode } from './tigerbeetle/service'
 
 export enum LiquidityAccountType {
   ASSET = 'ASSET',
@@ -11,6 +12,12 @@ export enum LiquidityAccountType {
   WEB_MONETIZATION = 'WEB_MONETIZATION'
 }
 
+export enum TransferType {
+  DEPOSIT = 'DEPOSIT',
+  WITHDRAWAL = 'WITHDRAWAL',
+  TRANSFER = 'TRANSFER'
+}
+
 export interface LiquidityAccountAsset {
   id: string
   code?: string
@@ -35,7 +42,11 @@ export interface OnDebitOptions {
   balance: bigint
 }
 
-export interface Deposit {
+export interface BaseTransfer {
+  transferType?: TransferType
+}
+
+export interface Deposit extends BaseTransfer {
   id: string
   account: LiquidityAccount
   amount: bigint
@@ -45,7 +56,7 @@ export interface Withdrawal extends Deposit {
   timeout?: number
 }
 
-export interface TransferOptions {
+export interface TransferOptions extends BaseTransfer {
   sourceAccount: LiquidityAccount
   destinationAccount: LiquidityAccount
   sourceAmount: bigint
@@ -95,6 +106,7 @@ export interface TransferToCreate {
   destinationAccountId: string
   amount: bigint
   ledger: number
+  transferCode: number
 }
 
 export interface BaseAccountingServiceDependencies extends BaseService {
@@ -117,12 +129,12 @@ export async function createAccountToAccountTransfer(
   args: CreateAccountToAccountTransferArgs
 ): Promise<Transaction | TransferError> {
   const {
+    transferArgs,
     voidTransfers,
     postTransfers,
     createPendingTransfers,
     getAccountReceived,
-    getAccountBalance,
-    transferArgs
+    getAccountBalance
   } = args
 
   const { withdrawalThrottleDelay } = deps
@@ -206,20 +218,30 @@ export async function createAccountToAccountTransfer(
 export function buildCrossAssetTransfers(
   args: TransferOptions
 ): TransferToCreate[] | TransferError {
-  const { sourceAccount, destinationAccount, sourceAmount, destinationAmount } =
-    args
+  const {
+    sourceAccount,
+    destinationAccount,
+    sourceAmount,
+    destinationAmount,
+    transferType
+  } = args
 
   if (!destinationAmount) {
     return TransferError.InvalidDestinationAmount
   }
 
+  let transferCode = 0
+  if (transferType)
+    transferCode = convertToTigerBeetleTransferCode[transferType]
+
   const transfers: TransferToCreate[] = []
   // Send to source liquidity account
   transfers.push({
     sourceAccountId: sourceAccount.id,
     destinationAccountId: sourceAccount.asset.id,
     amount: sourceAmount,
-    ledger: sourceAccount.asset.ledger
+    ledger: sourceAccount.asset.ledger,
+    transferCode
   })
 
   // Deliver from destination liquidity account
@@ -227,7 +249,8 @@ export function buildCrossAssetTransfers(
     sourceAccountId: destinationAccount.asset.id,
     destinationAccountId: destinationAccount.id,
     amount: destinationAmount,
-    ledger: destinationAccount.asset.ledger
+    ledger: destinationAccount.asset.ledger,
+    transferCode
   })
 
   return transfers
@@ -236,10 +259,19 @@ export function buildCrossAssetTransfers(
 export function buildSameAssetTransfers(
   args: TransferOptions
 ): TransferToCreate[] {
-  const { sourceAccount, destinationAccount, sourceAmount, destinationAmount } =
-    args
+  const {
+    sourceAccount,
+    destinationAccount,
+    sourceAmount,
+    destinationAmount,
+    transferType
+  } = args
   const transfers: TransferToCreate[] = []
 
+  let transferCode = 0
+  if (transferType)
+    transferCode = convertToTigerBeetleTransferCode[transferType]
+
   transfers.push({
     sourceAccountId: sourceAccount.id,
     destinationAccountId: destinationAccount.id,
@@ -247,7 +279,8 @@ export function buildSameAssetTransfers(
       destinationAmount && destinationAmount < sourceAmount
         ? destinationAmount
         : sourceAmount,
-    ledger: sourceAccount.asset.ledger
+    ledger: sourceAccount.asset.ledger,
+    transferCode
   })
 
   if (destinationAmount && sourceAmount !== destinationAmount) {
@@ -257,7 +290,8 @@ export function buildSameAssetTransfers(
         sourceAccountId: sourceAccount.id,
         destinationAccountId: sourceAccount.asset.id,
         amount: sourceAmount - destinationAmount,
-        ledger: sourceAccount.asset.ledger
+        ledger: sourceAccount.asset.ledger,
+        transferCode
       })
     } else {
       // Deliver excess destination amount from liquidity account
@@ -265,7 +299,8 @@ export function buildSameAssetTransfers(
         sourceAccountId: destinationAccount.asset.id,
         destinationAccountId: destinationAccount.id,
         amount: destinationAmount - sourceAmount,
-        ledger: sourceAccount.asset.ledger
+        ledger: sourceAccount.asset.ledger,
+        transferCode
       })
     }
   }
diff --git a/packages/backend/src/accounting/tigerbeetle/service.ts b/packages/backend/src/accounting/tigerbeetle/service.ts
index 833e19c5b5..eaba09412c 100644
--- a/packages/backend/src/accounting/tigerbeetle/service.ts
+++ b/packages/backend/src/accounting/tigerbeetle/service.ts
@@ -17,7 +17,8 @@ import {
   Transaction,
   TransferOptions,
   Withdrawal,
-  createAccountToAccountTransfer
+  createAccountToAccountTransfer,
+  TransferType
 } from '../service'
 import { calculateBalance, createAccounts, getAccounts } from './accounts'
 import {
@@ -37,6 +38,12 @@ export enum TigerBeetleAccountCode {
   SETTLEMENT = 101
 }
 
+export enum TigerBeetleTransferCode {
+  TRANSFER = 1,
+  DEPOSIT = 2,
+  WITHDRAWAL = 3
+}
+
 export const convertToTigerBeetleAccountCode: {
   [key in LiquidityAccountType]: TigerBeetleAccountCode
 } = {
@@ -48,6 +55,14 @@ export const convertToTigerBeetleAccountCode: {
   [LiquidityAccountType.OUTGOING]: TigerBeetleAccountCode.LIQUIDITY_OUTGOING
 }
 
+export const convertToTigerBeetleTransferCode: {
+  [key in TransferType]: TigerBeetleTransferCode
+} = {
+  [TransferType.TRANSFER]: TigerBeetleTransferCode.TRANSFER,
+  [TransferType.DEPOSIT]: TigerBeetleTransferCode.DEPOSIT,
+  [TransferType.WITHDRAWAL]: TigerBeetleTransferCode.WITHDRAWAL
+}
+
 export interface ServiceDependencies extends BaseService {
   tigerBeetle: Client
   withdrawalThrottleDelay?: number
diff --git a/packages/backend/src/accounting/tigerbeetle/transfers.ts b/packages/backend/src/accounting/tigerbeetle/transfers.ts
index e4bd2f7f36..cfe5d7fb76 100644
--- a/packages/backend/src/accounting/tigerbeetle/transfers.ts
+++ b/packages/backend/src/accounting/tigerbeetle/transfers.ts
@@ -7,11 +7,9 @@ import { v4 as uuid } from 'uuid'
 import { TransferError } from '../errors'
 
 import { TigerbeetleCreateTransferError } from './errors'
-import { ServiceDependencies } from './service'
+import { ServiceDependencies, TigerBeetleTransferCode } from './service'
 import { AccountId, toTigerBeetleId } from './utils'
 
-const ACCOUNT_TYPE = 1
-
 type TransfersError = {
   index: number
   error: TransferError
@@ -21,6 +19,7 @@ export type TransferUserData128 = string | number | bigint
 
 interface TransferOptions {
   userData128?: TransferUserData128
+  code?: TigerBeetleTransferCode
 }
 
 export interface NewTransferOptions extends TransferOptions {
@@ -74,7 +73,7 @@ export async function createTransfers(
       pending_id: 0n,
       timeout: 0,
       ledger: 0,
-      code: ACCOUNT_TYPE,
+      code: 0,
       flags: 0,
       amount: 0n,
       timestamp: 0n
@@ -94,7 +93,9 @@ export async function createTransfers(
         tbTransfer.flags |= TransferFlags.pending
         tbTransfer.timeout = transfer.timeout
       }
+      if (transfer.code) tbTransfer.code = transfer.code
     } else {
+      tbTransfer.code = 0
       tbTransfer.id = toTigerBeetleId(uuid())
       if (transfer.postId) {
         tbTransfer.flags |= TransferFlags.post_pending_transfer