Our account/routing numbers (subnets) are identical to those funds in traditional banks and allow for the same functionality (e.g. the user crediting or debiting their deposit account on our system from an external bank via ACH). Users simply need to provide their assigned account and routing number to their external bank or third party software.
Accounts don't automatically come with subnets so that platforms have the ability to create close-looped systems. By default, when subnets are created they are credit only (
CREDIT) (i.e. incoming pulls will be denied). They can be changed to allow for credits and debits (
CREDIT-AND-DEBIT), if the use case requires, for all users or for a tier of users.
We encourage you to use account/routing number issuance to receive funds, as there is little return risk for credits. This is especially helpful with large transactions or risky payment flows. We also recommend using account/routing number issuance to set up direct deposit for payroll (when applicable). We have seen that users who set up direct deposit from their payroll have lower rates of churn.
To issue account and routing numbers please make sure beforehand the feature is enabled in your platform controls. Once you confirm this use our Issue AC/RT Numbers API.
If AC/RT numbers are not in your controls please speak with your platform architect (PA) about your interest in implementing them.
Compromised Account and Routing Numbers
If you feel your account and routing numbers have been compromised in any way or you no longer want to use the numbers, please deactivate your subnets. See Update Subnet Status for more information