First Party Transfer (Customer Profile & Customer Profile+)

This integration type is intended for partners who exclusively use StraitsX API to collect payment from their users and make payouts to their users' external bank accounts. We will require information on your users as per regulations and all incoming and outgoing transactions are restricted to first party only, i.e. your user must deposit from and withdraw to a bank account in their name.

Depending on the nature of your business, facilitating these first party transfers require the setting up of either Customer Profile (CP) or Customer Profile+ (CP+) accounts. The 3 differences between CP and CP+ accounts are that CP+ accounts require more KYC information and have lower transaction limits compared to CP accounts. Additionally, transactions under the CP+ model are in USD only.

Some examples of partners under this model are crypto exchanges. If you are unsure whether you fall under this category, contact us.