Overview

A Pool Account is a central account on Fincra that allows you to collect funds into a single merchant-controlled balance. Instead of creating a dedicated virtual account for each customer, you can receive payments into one pool and reconcile transactions using a unique customer reference.

This product is best for B2B platforms, PSPs, and businesses handling large volume transfers in markets where mobile money or card acceptance is limited. By using Pool Accounts, you can localize collections and still receive settlements in your preferred currency.

With a pool account, you can:

• Receive payments across supported currencies.
• Convert collected funds using Fincra’s FX services.
• Payout to beneficiaries locally or internationally.

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NOTE

Pool accounts are provisioned manually. There is currently no API to create a pool account.
To request one, reach out to your Relationship Manager, email [email protected], or submit a pool account requisition form for a faster response.

How It Works

1. You request a Pool Account by contacting your Relationship Manager, emailing [email protected], or submitting the Pool Account Requisition Form.

2. Fincra opens the account according to currency-specific SLAs (see properties below).

3. Your customers (payers) transfer money into the Pool Account.

4. Each payment must include your merchant reference code in the narration or reference field.

   • This reference returns ~60% of the time on bank statements.
   • When present, it allows you to map the payment back to your end customer.

5. Fincra reconciles incoming transactions:

   • Payments with a valid merchant reference are automatically credited to your balance.
   • Payments without a reference can still be credited if you design your own reconciliation process.

6. Fincra sends a webhook notification with the transaction details, including any reference code parsed from the statement.

Flow steps

• Merchant submits Pool Account request → Fincra Ops receives.
• Fincra processes account creation within SLA for the currency.
• Merchant receives Pool Account details (Bank name, Account number, Currency).
• Payer initiates bank transfer to Pool Account.
• Payer includes Merchant Reference Code in narration/reference field.
• Bank posts transaction into Pool Account.
• Fincra fetches bank statement, parses reference field.
• If reference matches merchant mapping → credit merchant balance.
• If reference is missing → optional credit based on agreed workflow.
• Webhook fired to merchant with transaction details.

Properties

Account creation SLAs and settlement properties

Integration Guide

Currently there is no API endpoint to create Pool Accounts. You must log a request via your RM, Support, or this form.

API references you should use:

• Pool Account Solution API

Webhook sample (transaction credited):

{
  "event": "collection.successful",
  "data": {
    "amount": "150000",
    "currency": "NGN",
    "reference": "INV12345",
    "narration": "Payment for Invoice INV12345",
    "status": "successful",
    "timestamp": "2025-08-16T12:45:00Z"
  }
}

Example requests

cURL

curl -X GET "https://api.fincra.com/v1/pool-accounts/transactions" \
  -H "Authorization: Bearer <YOUR_SECRET_KEY>"

JavaScript

const axios = require("axios");

async function getPoolTransactions() {
  const response = await axios.get(
    "https://api.fincra.com/v1/pool-accounts/transactions",
    {
      headers: { Authorization: "Bearer YOUR_SECRET_KEY" },
    }
  );
  console.log(response.data);
}

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NOTE

Always include your merchant reference in payer instructions to ensure accurate reconciliation. Payments without references require manual mapping on your end.

Managing Pool Account Payments

• See Handling Collections for guidance on:

  • Overpayments & underpayments
  • Webhooks setup and retries
  • Errors and reconciliation
  • Disputes and RFIs

Common Use Cases

• Remittance companies: Collect local transfers from senders, settle to receivers in foreign currency.
• E-commerce platforms: Accept local payments into a shared account and reconcile by reference code.
• Exporters & traders: Collect large transfers in NGN/GHS/ZAR and settle in USD/GBP/EUR.
• Fintechs & PSPs: Enable SMEs to receive local bank transfers without setting up multiple virtual accounts.
• Subscription platforms: Reconcile recurring bank transfers tagged with customer references.

FAQs

1. What if the payer forgets to include the merchant reference?
Fincra can still credit your account if you design an internal process for mapping such payments. By default, reconciliation relies on the merchant reference.

2. How long does it take to open a Pool Account?
SLAs vary by currency (see Properties table). Typically between 2–10 business days.

3. Are Pool Accounts available via API?
Not yet. You must request manually. An API for logging requests is planned.

4. Can Pool Accounts be used for card or mobile money?
No. They are strictly for bank transfers (with some corridors supporting mobile money-to-bank rails, e.g., GHS, UGX).

Internal Links Map

• Handling Collections → Managing Pool Account Payments section.
• Pool Account Solution API.