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Dedicated client money accounts with Verify

This collection covers:

  1. Onboarding a customer using Verify
  2. Opening a dedicated client money account for the customer
  3. Making, receiving, and tracking payments
  4. Closing a bank account

1. Onboard a customer using Verifyโ€‹

Before you can open bank accounts, you will need to create legal persons to represent your customers in our system.

You are using Verify, our onboarding product that lets you submit your customer's information, and run automated ID&V, screening and anti-fraud checks on them all in one go.

Select the guide you need based on the type of customer you are onboarding.

Your customerYour appGriffinStore these URLsStore theseworkflow URLsopt[if workflow URLs stored = false]loop[for every claim]opt[if claims not added]๐Ÿ’ก Webhook availableloop[poll verification status]verification-status: in-progressloop[poll ID&V url]verification-status: checks-completeauto-decision madeReferred application are reviewed by our team,followed by a manual decision๐Ÿ’ก Webhook available for decisionsloop[poll legal person application status]Once the application-status is accepted, you're ready to go!GET organization-url200 OK - all relevant URLs returnedGET organization-workflows-url200 OK - all workflows you have access toAll information receivedPOST organization-legal-persons-url (with optional set of claims)201 OK - legal person createdall relevant URLs returnedPOST legal-person-claims-url201 OK - claim createdPOST legal-person-verifications-url201 OK - verification createdall relevant URLs returnedGET verification-url200 OK - verification-statuspending|in-progress|failed|checks-declined|checks-completeGET verification-resources-url200 OK - contains idv-check-urlSend ID&V URLComplete ID&V flowGET legal-person-url200 OK - application-statusaccepted|referred|declined|erroredYour customerYour appGriffin

2. Open a client money account for the customerโ€‹

You can now use the legal person URL you created in the last step to open a bank account for your customer.

๐Ÿ’ผ Open a client money account

You are using dedicated client money accounts, which means the account will hold money from a single customer, who is the beneficiary of that account.

Your AppGriffin๐Ÿ’ก Webhook availableloop[poll]POST organization-bank-accounts-urlbank-product-type = client-money-accountclient-money-type = general-client-money|designated-client-money|designated-client-fundpooled-funds = falsebeneficiary-URL = legal person URL201 OK - account status: openingaccount-url includedGET account-url200 OK - account status: openYour AppGriffin

3. Paymentsโ€‹

Receive a payment into the accountโ€‹

Griffin automatically receives payments, so there are no actions you need to take here, but you can track the progress of inbound payments by creating a webhook.

Your appWebhookadmission-status: processingadmission-status: deliveredFunds credited to the creditor accountpayment-createdadmission-createdtransaction-createdadmission-updatedYour appWebhook

Make a payment from the accountโ€‹

You can use a webhook or polling to track payments you have submitted.

๐Ÿ’ธ Make a payment

Your appAPIWebhook serviceretrieve payment-submissions-url from response bodysubmission-status: processingFunds debited from the debitor accountsubmission-status: deliveredFunds credited to the creditor account1. POST to bank-account-payments-url201 Payment created2. POST to payment-submissions-url200 OKsubmission-createdtransaction-createdsubmission-updatedYour appAPIWebhook service

4. Close the bank accountโ€‹

Once closed, the bank account cannot be reopened. Once a bank account enters the closing state, it will no longer accept inbound payments.

๐Ÿ™… Close a bank account

Your appGriffinAccount will no longer acceptinbound paymentsloop[poll]๐Ÿ’ก Webhook availableloop[poll]alt[balance > 0][balance = 0]POST close-account-url200 OK - account status: closingbring account balance to zeroGET account-url200 OK - account status: closedGET account-url200 OK - account status: closedYour appGriffin