diff --git a/src/shade/__init__.py b/src/shade/__init__.py
index d766de8..43cb473 100644
--- a/src/shade/__init__.py
+++ b/src/shade/__init__.py
@@ -16,7 +16,7 @@
     ShadeError,
     SignatureVerificationError,
 )
-from .models import Merchant, ShadeObject
+from .models import Merchant, ShadeObject, Transfer, TransferStatus
 
 __version__ = "0.1.0"
 
@@ -39,6 +39,8 @@
     "SignatureVerificationError",
     "ShadeObject",
     "SyncHTTPClient",
+    "Transfer",
+    "TransferStatus",
     "config",
     "api_base",
     "environment",
diff --git a/src/shade/models/__init__.py b/src/shade/models/__init__.py
index 815f70a..330af80 100644
--- a/src/shade/models/__init__.py
+++ b/src/shade/models/__init__.py
@@ -3,5 +3,6 @@
 """
 from .base import ShadeObject
 from .merchant import Merchant
+from .transfer import Transfer, TransferStatus
 
-__all__ = ["Merchant", "ShadeObject"]
+__all__ = ["Merchant", "ShadeObject", "Transfer", "TransferStatus"]
diff --git a/src/shade/models/transfer.py b/src/shade/models/transfer.py
new file mode 100644
index 0000000..a07ffbb
--- /dev/null
+++ b/src/shade/models/transfer.py
@@ -0,0 +1,82 @@
+"""
+Transfer model.
+
+Represents a payout of funds from the merchant wallet to a destination
+address on the Stellar network. Field names are converted from ``camelCase``
+(backend/JSON) to ``snake_case`` (Python) via pydantic field aliases, matching
+the convention established by :class:`~shade.models.merchant.Merchant`.
+"""
+from __future__ import annotations
+
+from datetime import datetime
+from decimal import Decimal
+from enum import Enum
+from typing import Optional
+
+from pydantic import Field, field_validator
+from stellar_sdk.strkey import StrKey
+
+from .base import ShadeObject
+
+
+class TransferStatus(str, Enum):
+    """Lifecycle status of a transfer."""
+
+    PENDING = "pending"
+    PROCESSING = "processing"
+    COMPLETED = "completed"
+    FAILED = "failed"
+
+
+class Transfer(ShadeObject):
+    """A payout of funds from the merchant wallet to a destination address.
+
+    Build one from an API response with :meth:`ShadeObject.from_dict`, which
+    maps camelCase JSON keys to the snake_case fields below. ``asset`` falls
+    back to ``"XLM"`` when the API omits it (or sends it as ``null``), and
+    ``status`` is always coerced to a :class:`TransferStatus` member.
+    """
+
+    id: str
+    source_address: str = Field(alias="sourceAddress")
+    destination_address: str = Field(alias="destinationAddress")
+    amount: Decimal
+    asset: str = "XLM"
+    status: TransferStatus
+    stellar_tx_hash: Optional[str] = Field(default=None, alias="stellarTxHash")
+    fee: Optional[Decimal] = None
+    created_at: datetime = Field(alias="createdAt")
+
+    @field_validator("asset", mode="before")
+    @classmethod
+    def _default_asset(cls, value: object) -> object:
+        # Covers both a missing key (pydantic would already default it) and an
+        # API response that sends the key as an explicit null/empty string.
+        # Other falsy-but-wrong types (e.g. False, 0) are left alone so
+        # pydantic's normal type validation rejects them.
+        if value is None or value == "":
+            return "XLM"
+        return value
+
+    @field_validator("source_address", "destination_address")
+    @classmethod
+    def _validate_stellar_address(cls, value: str) -> str:
+        if not StrKey.is_valid_ed25519_public_key(value):
+            raise ValueError(
+                "must be a valid Stellar public key (starts with 'G', 56 characters)"
+            )
+        return value
+
+    @field_validator("amount")
+    @classmethod
+    def _amount_must_be_positive(cls, value: Decimal) -> Decimal:
+        if value <= 0:
+            raise ValueError("amount must be greater than 0")
+        return value
+
+    @field_validator("fee")
+    @classmethod
+    def _fee_must_not_be_negative(cls, value: Optional[Decimal]) -> Optional[Decimal]:
+        if value is not None and value < 0:
+            raise ValueError("fee must not be negative")
+        return value
diff --git a/tests/test_transfer.py b/tests/test_transfer.py
new file mode 100644
index 0000000..bad8863
--- /dev/null
+++ b/tests/test_transfer.py
@@ -0,0 +1,154 @@
+from datetime import datetime
+from decimal import Decimal
+
+import pytest
+from stellar_sdk import Keypair
+
+import shade
+from shade import InvalidRequestError, ShadeObject, Transfer, TransferStatus
+
+SOURCE_ADDRESS = Keypair.random().public_key
+DESTINATION_ADDRESS = Keypair.random().public_key
+
+
+def _api_response(**overrides):
+    """A representative camelCase backend payload."""
+    data = {
+        "id": "trf_123",
+        "sourceAddress": SOURCE_ADDRESS,
+        "destinationAddress": DESTINATION_ADDRESS,
+        "amount": "150.25",
+        "asset": "USDC",
+        "status": "pending",
+        "stellarTxHash": None,
+        "fee": "0.5",
+        "createdAt": "2026-07-20T12:00:00Z",
+    }
+    data.update(overrides)
+    return data
+
+
+def test_from_dict_maps_camelcase_to_snake_case():
+    transfer = Transfer.from_dict(_api_response())
+
+    assert transfer.id == "trf_123"
+    assert transfer.source_address == SOURCE_ADDRESS
+    assert transfer.destination_address == DESTINATION_ADDRESS
+    assert transfer.amount == Decimal("150.25")
+    assert transfer.asset == "USDC"
+    assert transfer.status == TransferStatus.PENDING
+    assert transfer.stellar_tx_hash is None
+    assert transfer.fee == Decimal("0.5")
+    assert transfer.created_at == datetime.fromisoformat("2026-07-20T12:00:00+00:00")
+
+
+def test_amount_and_fee_are_decimal():
+    transfer = Transfer.from_dict(_api_response(amount="99.99", fee="1.10"))
+    assert isinstance(transfer.amount, Decimal)
+    assert isinstance(transfer.fee, Decimal)
+
+
+def test_asset_defaults_to_xlm_when_absent():
+    payload = _api_response()
+    del payload["asset"]
+    transfer = Transfer.from_dict(payload)
+    assert transfer.asset == "XLM"
+
+
+def test_asset_defaults_to_xlm_when_null():
+    transfer = Transfer.from_dict(_api_response(asset=None))
+    assert transfer.asset == "XLM"
+
+
+def test_malformed_asset_is_rejected_not_defaulted():
+    # False/0 are falsy but must not be silently coerced to "XLM" — they are
+    # the wrong type and should surface as a validation error instead.
+    with pytest.raises(InvalidRequestError) as exc_info:
+        Transfer.from_dict(_api_response(asset=False))
+    assert exc_info.value.param == "asset"
+
+
+def test_status_is_transfer_status_enum():
+    for raw in ("pending", "processing", "completed", "failed"):
+        transfer = Transfer.from_dict(_api_response(status=raw))
+        assert isinstance(transfer.status, TransferStatus)
+        assert transfer.status.value == raw
+
+
+def test_invalid_status_raises():
+    with pytest.raises(InvalidRequestError) as exc_info:
+        Transfer.from_dict(_api_response(status="bogus"))
+    assert exc_info.value.param == "status"
+
+
+def test_completed_transfer_has_stellar_tx_hash():
+    transfer = Transfer.from_dict(
+        _api_response(status="completed", stellarTxHash="a" * 64)
+    )
+    assert transfer.status is TransferStatus.COMPLETED
+    assert transfer.stellar_tx_hash == "a" * 64
+
+
+def test_fee_defaults_to_none():
+    payload = _api_response()
+    del payload["fee"]
+    transfer = Transfer.from_dict(payload)
+    assert transfer.fee is None
+
+
+def test_transfer_is_exported_from_package():
+    assert shade.Transfer is Transfer
+    assert shade.TransferStatus is TransferStatus
+    assert issubclass(Transfer, ShadeObject)
+
+
+def test_from_dict_requires_a_mapping():
+    with pytest.raises(InvalidRequestError):
+        Transfer.from_dict([("id", "x")])  # type: ignore[arg-type]
+
+
+def test_missing_id_raises_clear_validation_error():
+    payload = _api_response()
+    del payload["id"]
+    with pytest.raises(InvalidRequestError) as exc_info:
+        Transfer.from_dict(payload)
+    assert exc_info.value.param == "id"
+
+
+def test_invalid_source_address_is_rejected():
+    with pytest.raises(InvalidRequestError) as exc_info:
+        Transfer.from_dict(_api_response(sourceAddress="not-a-stellar-key"))
+    assert exc_info.value.param == "sourceAddress"
+
+
+def test_invalid_destination_address_is_rejected():
+    with pytest.raises(InvalidRequestError) as exc_info:
+        Transfer.from_dict(_api_response(destinationAddress="not-a-stellar-key"))
+    assert exc_info.value.param == "destinationAddress"
+
+
+def test_non_positive_amount_is_rejected():
+    with pytest.raises(InvalidRequestError) as exc_info:
+        Transfer.from_dict(_api_response(amount="0"))
+    assert exc_info.value.param == "amount"
+
+
+def test_negative_fee_is_rejected():
+    with pytest.raises(InvalidRequestError) as exc_info:
+        Transfer.from_dict(_api_response(fee="-1"))
+    assert exc_info.value.param == "fee"
+
+
+def test_from_dict_preserves_unknown_keys():
+    transfer = Transfer.from_dict(_api_response(description="Payout for order #9"))
+    assert transfer.to_dict()["description"] == "Payout for order #9"
+
+
+def test_to_dict_round_trips_to_camelcase():
+    payload = _api_response()
+    transfer = Transfer.from_dict(payload)
+    round_tripped = transfer.to_dict()
+    assert round_tripped["sourceAddress"] == SOURCE_ADDRESS
+    assert round_tripped["destinationAddress"] == DESTINATION_ADDRESS
+    assert round_tripped["stellarTxHash"] is None
+    assert Transfer.from_dict(round_tripped) == transfer