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.
A bank account held in the name of our partner bank that functions like a DEPOSIT-US account. Not FDIC insured
Object ID of the node
HAL style link for the node
Denotes the account standing. Look at the node permissions section below to learn more
ID of the client that created the node
Name of the client that created the node
Any nickname/common name given to the node. Eg. Savings Node
[Deprecated] Name of the user who owns the node
Balance associated with the node.
Currency of the node
Type of node
Array that tracks node updates as they occur
If the node is indexed or marked deleted.
ID of the user who owns the node
Any supplied ID given by the client that created the node
Node can be used for sending or receiving funds
Node has been disabled and cannot be used for any transactions
Node has been locked and cannot be used for any transactions. This can be used in the case of fraudulent activity.