Bank Accounts Guide
Customer Profile API
Learn how to add and verify a bank account for a customer profile. Bank accounts can be added, updated and deleted.
Overview
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Step 1 — Display supported banks
- To provide options for your user to add a bank account, initiate a request to get a list of supported banks
- This enables your user to select their bank name which would be required when adding a bank account.
Ensure that the correct bank name is submitted
Some banks have similar or multiple bank codes so you should ensure the correct one is being submitted to avoid any subsequent payment/payout failures. For instance, HSBC Business Account uses
HSBCand HSBC Personal Account usesHBSC2; Malayan Banking Berhad usesMBBand Maybank Singapore usesMBB2.
Step 2 — Add a user's bank account
- To make a bank transfer payment, your users will need to add their bank account first.
- This enables us to match the account number of the incoming transaction with the one provided by them.
- Once the source of payment is identified, we will process their payment automatically.
Step 3 — Verify a user's bank account
A user's bank account is verified differently depending on the API environment and the customer profile's region.
| Environment | Bank Account Verification Method |
|---|---|
| Production | 1. Create a virtual account (VA) for the user via Create a virtual bank account - refer to Bank Transfer Payments Guide to understand how we use VA to accept payment from your users. 2. User makes a payment to the VA to verify their bank account. 3. Name matches between user's customer profile name and bank account's name. 4. Bank account will be automatically verified. |
| Sandbox | 1. Create a virtual bank account (VA) for the user Create a virtual bank account - refer to Bank Transfer Payments Guide to understand how we use VA to accept payment from your users. 2. Call Create a mock bank account verification API - This will move the verification_status of your bank account from pending to verified/rejected. |
Summary
The flowchart below displays how a user bank account can be added and verified.
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Next step — Accepting Payments / Sending Payouts
And that's it! You're all ready to use the Payment API and Payout API to accept payments and send payouts to your users.
Try it out!
Getting started with StraitsX APIs is easy. Our business development and integration teams will be with you every step of the way. If you have any questions or would like to connect with our team, please do so via Support!
Updated 5 months ago