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.



  • 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 SchemeTime
SEPAWithin 24hours-2 days
SEPA INSTANTWithin 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.

currencyYesstringThe virtual account currency.e.g EUR
accountTypeYesstringThe virtual account type. For EUR, we currently only offer individual accounts.
meansOfIdYesstring/arrayThe customer's means of identification which should be a valid government ID e.g voters card, driving license. Please see the API documentation
utilityBillYesstringElectricity 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.
bankStatementYesstringAccount statement from the user's bank. This can be a File Upload or URL link to the document.
KYCInformationYesObjectKYC Information object
KYCInformation.firstNameYesstringThe customer's first name. This is required to create an individual account
KYCInformation.lastNameYesstringThe customer's last name. This is required to create an individual account
KYCInformation.birthDateYesstringThe birthdate of the customer(YYYY-MM-DD ).
KYCInformation.nationalityYesstringThe birthplace of the customer
KYCInformation.emailYesstringThe customer's email.
KYCInformation.addressYesObjectThe address of the customer
KYCInformation.address.countryOfResidenceYesstringThe address of the country
KYCInformation.address.stateYesstringThe address of the state
KYCInformation.address.zipYesstringThe zip code
KYCInformation.address.streetYesstringThe street name
KYCInformation.address.cityYesstringThe city name
KYCInformation.address.numberYesstringThe house number
KYCInformation.sourceOfIncomeYesstringCustomer's source of income
KYCInformation.accountDesignationYesstringSpecific use of the account e.g for personal use, corporate use, school fee payments etc.
KYCInformation.incomeBandYesstringCustomer's income band. IncomeBand can be described as earning range or salary range of the customer.
KYCInformation.phoneYesstringThe customer's phone number
KYCInformation.employmentStatusYesstringCustomer's employment status
KYCInformation.documentYesobjectThe document
KYCInformation.document.typeYesstringThe type of ID document e.g passport, driverLicense, idCard.

Please see the required values here
YesstringThe number on the document
YesstringThe country that issued the document.Should be in ISO 3166-1 alpha-2 – two-letter country codes format(NG)
YesstringThe government agency in charge of issuing the document.
YesstringThe date the document was issued("YYYY-mm-dd")
YesstringThe expiration date on the document ("mm-dd-YYYY").
KYCInformation.occupationYesstringThe occupation of the customer.
merchantReferenceNostringA 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


curl --location '' \
--header 'api-key: <Your API secret key>' \
--header 'Accept: application/json' \
--header 'Content-Type: application/json' \


    "currency": "EUR",
    "accountType": "individual",
    "utilityBill": "",
    "bankStatement": "",
    "meansOfId": [
    "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