EUR Virtual Account
This section describes the requirements for creating a virtual account in EURO (EUR). We would like to start by explaining how permanent EUR virtual accounts can be created on Fincra.
- By using the merchant account: All that is needed is for the request to be made by calling the create virtual account endpoint
Important
- When requesting a virtual account using a currency other than NGN, you need to include certain documents in the request body. Please follow this link to see the documents you would need.
- Only requests for Individual and corporate NGN virtual accounts will be instantly approved. EUR virtual account creation is not instant
- Funds received by a virtual account created settle in the balances of the merchant.
Euro Account Settlement Time
The settlement time is the amount of time it takes for funds to be deposited into your Fincra account/IBAN, and it is determined by the payment scheme used by the sender.
Payment Scheme | Time |
---|---|
SEPA | Within 24hours-2 days |
SEPA INSTANT | Within 10 seconds to one day |
API Guide
1 - Collect Customer Details
To create a virtual account, you'll need to pass information such as currency, accountType, meansOfID KYCInformation, etc.
Please find below the request parameters for the endpoint.
Field | Mandatory | type | Description |
---|---|---|---|
currency | Yes | string | The virtual account currency.e.g EUR |
accountType | Yes | string | The virtual account type. For EUR, we currently only offer individual accounts. |
meansOfId | Yes | string/array | The customer's means of identification which should be a valid government ID e.g voters card, driving license. Please see the API documentation |
utilityBill | Yes | string | Electricity bills, water bills or any detailed invoice showing the usage of a service. This can be a File Upload or a URL link to the document. |
bankStatement | Yes | string | Account statement from the user's bank. This can be a File Upload or URL link to the document. |
KYCInformation | Yes | Object | KYC Information object |
KYCInformation.firstName | Yes | string | The customer's first name. This is required to create an individual account |
KYCInformation.lastName | Yes | string | The customer's last name. This is required to create an individual account |
KYCInformation.birthDate | Yes | string | The birthdate of the customer(YYYY-MM-DD ). |
KYCInformation.nationality | Yes | string | The birthplace of the customer |
KYCInformation.email | Yes | string | The customer's email. |
KYCInformation.address | Yes | Object | The address of the customer |
KYCInformation.address.countryOfResidence | Yes | string | The address of the country |
KYCInformation.address.state | Yes | string | The address of the state |
KYCInformation.address.zip | Yes | string | The zip code |
KYCInformation.address.street | Yes | string | The street name |
KYCInformation.address.city | Yes | string | The city name |
KYCInformation.address.number | Yes | string | The house number |
KYCInformation.sourceOfIncome | Yes | string | Customer's source of income |
KYCInformation.accountDesignation | Yes | string | Specific use of the account e.g for personal use, corporate use, school fee payments etc. |
KYCInformation.incomeBand | Yes | string | Customer's income band. IncomeBand can be described as earning range or salary range of the customer. |
KYCInformation.phone | Yes | string | The customer's phone number |
KYCInformation.employmentStatus | Yes | string | Customer's employment status |
KYCInformation.document | Yes | object | The document |
KYCInformation.document.type | Yes | string | The type of ID document e.g passport , driverLicense , idCard .Please see the required values here |
KYCInformation. document.number | Yes | string | The number on the document |
KYCInformation. document.issuedCountryCode | Yes | string | The country that issued the document.Should be in ISO 3166-1 alpha-2 β two-letter country codes format(NG) |
KYCInformation. document.issuedBy | Yes | string | The government agency in charge of issuing the document. |
KYCInformation. document.issuedDate | Yes | string | The date the document was issued("YYYY-mm-dd") |
KYCInformation. document.expirationDate | Yes | string | The expiration date on the document ("mm-dd-YYYY"). |
KYCInformation.occupation | Yes | string | The occupation of the customer. |
merchantReference | No | string | A unique ID/reference of the virtual account on your system. |
2 - Request a virtual account
Make an API request to the create virtual account endpoint
Endpoint:
{{base_url}}/profile/virtual-accounts/requests
curl --location 'https://api.fincra.com/profile/virtual-accounts/requests' \
--header 'api-key: <Your API secret key>' \
--header 'Accept: application/json' \
--header 'Content-Type: application/json' \
Payload:
{
"currency": "EUR",
"accountType": "individual",
"utilityBill": "https://testbucket.s3.amazonaws.com/va_documents/utility-bill.pdf",
"bankStatement": "https://testbucket.s3.amazonaws.com/va_documents/account-statement.pdf",
"meansOfId": [
"https://testbucket.s3.amazonaws.com/va_documents/passport.pdf"
],
"KYCInformation": {
"address": {
"state": "Lagos",
"city": "Ogudu",
"street": "Association Close",
"zip": "110001",
"countryOfResidence": "NG",
"number": "25"
},
"email": "[email protected]",
"incomeBand": "$0 - $2,000",
"sourceOfIncome": "Salary",
"accountDesignation": "Personal use",
"phone": "08012345678",
"occupation": "Business",
"nationality": "NG",
"birthDate": "2002-08-20",
"firstName": "John",
"lastName": "Doe",
"document": {
"type": "passport",
"number": "A8938923",
"issuedCountryCode": "NG",
"issuedBy": "government",
"issuedDate": "2019-04-26",
"expirationDate": "2024-04-25"
},
"employmentStatus": "Business",
}
}
You would receive a JSON snippet with the details of the newly created virtual account:
{
"success": true,
"message": "Thank you, John Doe. We are now processing your EUR account request",
"data": {}
}
Important Notes:
- _id : This is the unique Identifier for the virtual account that was just created.
- business : This is your business ID.
- entityType : This states that the virtual account belongs to you
Updated about 2 months ago