EUR (Euro) Account

This section describes the requirements for creating a virtual account in EURO(EUR). In this section, the payloads have been separated into the requirements for individual and corporate accounts. Please take your time to go through each request properly.

With a EUR virtual account, payments can be received in EURO

📘
Hey 👋 , we recommend reading the sections below because they are critical to understanding each virtual account request.

How to create a virtual account

Currencies we support for virtual account creations

Virtual Account Webhook Structure

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

Endpoint Parameters

These parameters can be tested on an API explorer by calling the various endpoints we support for our virtual account requests :

Create a virtual account : This endpoint can be used to request a virtual account in any currency

{{host}}/profile/virtual-accounts/requests

Note

After a virtual account creation request is made, we will return a response with a data object containing a unique identifier _id of the virtual account, which we would also include in the webhook we send to you as id if the virtual account is declined or approved.
The meansOfId can be sent as a string, file, or array of URLs when making use of the create virtual account endpoint

Individual Request

These are the fields required to process an individual virtual account request in EUR

Field	Mandatory	type	Description
currency	Yes	string	The virtual account currency.e.g EUR
accountType	Yes	string	The virtual account type . Please see the API documentation for more details
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 – 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.

The payload should look like this :

{
    "currency": "EUR",
    "meansOfId": [
        "https://www.planetware.com/wpimages/2020/02/france-in-pictures-beautiful-places-to-photograph-eiffel-tower.jpg"
    ],
    "utilityBill": "https://www.planetware.com/wpimages/2020/02/france-in-pictures-beautiful-places-to-photograph-eiffel-tower.jpg",
    "bankStatement": "https://www.planetware.com/wpimages/2020/02/france-in-pictures-beautiful-places-to-photograph-eiffel-tower.jpg",
    "accountType": "individual",
    "KYCInformation": {
        "firstName": "John",
        "lastName": "Doe",
        "email": "[email protected]",
        "birthDate": "1984-07-24",
        "nationality": "NG",
        "incomeBand": "0-100000",
        "phone": "09031234321",
        "address": {
            "countryOfResidence": "NG",
            "zip": "23401",
            "street": "Obada",
            "number": "10",
            "state": "Lagos",
            "city": "Alimosho"
        },
        "document": {
            "type": "passport",
            "number": "B00530002",
            "issuedCountryCode": "NG",
            "issuedBy": "government",
            "issuedDate": "2000-09-14",
            "expirationDate": "02-09-2024"
        },
        "occupation": "Software-Developer",
        "sourceOfIncome": "Software-Development",
        "accountDesignation": "personal",
        "employmentStatus": "Employed"
    }
}

Corporate Request

These are the fields required to process a corporate virtual account request in EUR/GBP.

Field	Mandatory	type	Description
currency	Yes	string	The virtual account currency.e.g EUR
accountType	Yes	string	The virtual account type e.g corporate
reason	Yes	string	The reason for requesting a virtual account.
paymentFlowDescription	Yes	string	The countries payments are coming from and going to, The general purpose of these payments,Customer categories of the business etc.
monthlyVolume	Yes	string	This is the committed transaction volume multiplied by the number of days in the relevant month.
entityName	Yes	string	This is the legal name of the business or company.
KYCInformation.address	Yes	Object	The address of the customer
KYCInformation.address.state	Yes	string	The address of the state
KYCInformation.address.zip	Yes	string	The zip code
KYCInformation.address.houseId	Yes	string	The house number(Required for only UK residents)

The payload should look like this :

{
    "currency": "EUR",
    "accountType": "corporate",
    "KYCInformation": {
        "city": "Lekki",
        "state": "lagos",
        "zip": "234",
        "houseId": "12345" //for UK residents
    },
    "reason": "The reason for requesting a corporate account",
    "monthlyVolume": 10000,
    "entityName": "john doe legal enterprise",
    "paymentFlowDescription": "we pay in pounds every month"
}

Please Note that we will get other required information from the KYC submitted during onboarding