Deposit Account Intro

Deposit account resources

Direct Deposit Accounts DEPOSIT-US (also known as Direct Deposit Accounts or Checking Accounts), are general purpose deposit accounts opened in the end user's name at our partner bank. These accounts are FDIC insured up to $250,000. Once created, these accounts open the door for a variety of other features, including account/routing number issuance and card issuance.

Because these are full deposit accounts opened in the end user's name, they have standardized KYC obligations:

Minimum KYC for Individuals:

  1. Base Document: Name, DOB, Address, Email, Phone
  2. Virtual Document: SSN with W-9 Verification
  3. Physical Document: US Government Issued Photo ID [GOVT_ID]

Minimum KYC for Businesses:

  1. Business Info:
    a. Base Document: Business Name, Address, Entity Formation Date, Entity Type (LLC, Corp, etc), Entity Scope(Industry), Email & Phone Number of Business
    b. Virtual Document: TIN
    c. Physical Documents:
    d. EIN Verification Letter issued by IRS [EIN_DOC]
    e. Company Bylaws [BYLAWS_DOC]
    f. Articles of Incorporation [AOI]
    g. User Due Diligence Form [REG_GG]
  2. Beneficial Owner - Individuals owning 25% or more
    a. Base Document: Name, DOB, Address, Email, Phone
    b. Virtual Document: SSN with W-9 Verification
    c. Physical Documents: US Government Issued Photo ID [GOVT_ID]

Node Type

Type
Default Permissions
Comment

DEPOSIT-US

CREDIT-AND-DEBIT

An FDIC insured deposit account that can be used to hold funds.

All Deposit Node Objects

_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

Every deposit account has the following permissions associated with them:

Permission
Comments

CREDIT-AND-DEBIT

Node can be used for sending and 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.