Clearing Account Intro

Clearing account resources

Clearing Accounts CLEARING-US are bank accounts that are held in the name of our partner bank and act as intermediary accounts between senders and receivers.

Unlike other deposit products, clearing accounts are not FDIC insured so it is best practice to hold funds in clearing accounts temporarily and before transferring to the receiving party.

Clearing accounts are ideal for platforms that are not registered as Money Service Businesses. User funds are never held by the platform and a clearing account can act as a pass-through to transfer funds between individuals. Since funds are never held by the platform and our partner holds custodianship of the end user’s funds, this also makes it ideal for mimicking escrow account functionality.

Node Type

Type
Permissions
Comment

CLEARING-US

CREDIT-AND-DEBIT

A bank account held in the name of our partner bank that functions like a DEPOSIT-US account. Not FDIC insured

NODE STRUCTURE

_id:
string

Object ID of the node

_links.self.href:
string

HAL style link for the node

allowed:
string

Denotes the account standing. Look at the node permissions section below to learn more

client.id:
string

ID of the client that created the node

client.name:
string

Name of the client that created the node

info.nickname:
string

Any nickname/common name given to the node. Eg. Savings Node

info.name_on_account:
string

[Deprecated] Name of the user who owns the node

info.balance.amount:
double

Balance associated with the node.

info.balance.currency:
stringUSD

Currency of the node

type:
string

Type of node

timeline:
array of objects

Array that tracks node updates as they occur

is_active:
booleantrue

If the node is indexed or marked deleted.

user_id:
string

ID of the user who owns the node

extra.supp_id:
string

Any supplied ID given by the client that created the node

Node Permissions

CREDIT-AND-DEBIT

Node can be used for sending or receiving funds

INACTIVE

Node has been disabled and cannot be used for any transactions

LOCKED

Node has been locked and cannot be used for any transactions. This can be used in the case of fraudulent activity.

Clearing Account Intro


Clearing account resources

Suggested Edits are limited on API Reference Pages

You can only suggest edits to Markdown body content, but not to the API spec.