Accounts
This section provides answers to critical integration-related queries about Decentro's Accounts offering.
1. How should a platform consume Decentro's virtual account API to build a frontend?
The workflow for building a frontend on virtual account API is as follows:
- When the platform onboards a user on its mobile or web app, it should execute Decentro's create consumer API by passing the details collected during the user's onboarding journey. This will generate a unique consumer reference number. The platforms should mandatorily collect the following information in onboarding to create consumers:
- Full name
- Email address
- Country code
- Once consumer creation is done, platforms can display the create virtual account screen, as shown below. The name can be pre-filled with the details collected in the previous step:
- Once the virtual account is created, platforms can display virtual account details as shown below.
- The same screen can be used as the "View virtual account details" screen on the platform's mobile or web app.
- When the user clicks on the "deposit funds" CTA, they will be shown the details they must use on their mobile or net banking to initiate a deposit. Please note that here, the account name will be the name of the licensed entity, i.e., Airwallex Pvt. Ltd.
2. How should a platform map virtual and currency accounts with the customer ledger it maintains at its end?
Platforms can refer to the diagrams below to build the ledger flows as their end -
3. What are the account details required to make a deposit to a virtual account?
The details required to make a deposit to a virtual account depends upon the currency of deposit. Below are the details required for making a deposit to each supported currency:
- USD
- Account Name
- Account Number
- ABA code
- SWIFT code (only if payment method is SWIFT)
- AUD
- Account Name
- Account Number
- BSB code
- SWIFT code (only if payment method is SWIFT)
- SGD
- Account Name
- Account Number
- Branch Code
- Bank Code
- SWIFT Code
- CAD
- Account Name
- Account Number
- Transit Number
- Institution Number
- SWIFT Code
- EUR
- Account Name
- IBAN
- Account Number (Only required in specific European Union zones)
- SWIFT Code
- GBP
- Account Name
- IBAN
- Account Number
- Sort Code
- SWIFT Code
Updated about 1 month ago