9 docs tagged with "banking"

This guide will show you how to close a bank account via the API. It covers all types of bank accounts you can currently create on the Griffin platform. Right now, this information only applies to sandbox mode.

Open banking is only available for operational accounts in live mode.

This guide will walk you through making a payment to a UK bank account. Payment processing is a multi-step process which requires interacting with several resource types. Learn about payments, transactions, submissions and admissions here

This guide will show you how to add and remove members of a pooled safeguarding or pooled client money account. You’ll need to add members when you first set up the account. You’ll also need to confirm that the membership is up-to-date at least once every 24 hours while the account is open.

A client money account is for managing your customers' funds. Only firms regulated under CASS (the FCA's Client Assets Sourcebook) can open client money accounts. You can choose to open a dedicated account for each of your customers, or a pooled account for holding funds from multiple customers. Learn more about bank accounts.

A safeguarding account is for managing your customers funds. Only firms regulated as Electronic money institutions (EMIs) and payments institutions (PIs) in the UK can open safeguarding accounts. You can choose to open a dedicated account for each of your customers, or a pooled account for holding funds from multiple customers. Learn more about bank accounts.

A savings account enables you to offer savings products to your customers. Learn more about savings accounts.

An operational account is a bank account for managing your organisation's own funds. Learn more about bank accounts.

Griffin automatically receives payments on your behalf, so there are no actions you need to take, but you can track their progress. We recommend creating a webhook in order to receive notifications of new inbound payments and to track their status through admissions.