Deposit Account Opening
Verify an account, its balance, and its owner and review transactions history when opening new financial accounts
Overview
Validate your end user’s identity, link their funding account, and get to know them when opening deposit accounts with our API products.
Our products enable you to verify an end user’s identity and information to identify potential fraud, verify financial accounts and balances to enable account funding, and gather financial information to provide additional knowledge about your end user.
The Platform API is required for this use case. If you are using the Nexus or Atrium API, the following information may not apply.
Choose Your Integration Method
Your use case and technology determines which method of integration you should use.
Use the following table to decide which integration method is the best for you.
| Method | Description | When to Use |
|---|---|---|
| Connect Widget | The Connect Widget is a pre-built, client-facing component that's presented to end users. It allows them to select and connect to their accounts. You can use the Connect Widget for Web and Mobile applications. SDKs are available for Web and React Native. | You want to use our ready-made connection experience that handles:
|
| API Only | Use API endpoints to connect to an end user's account and fetch data. This doesn’t use the Connect Widget and requires that you build your own experience to help end user's select their institution and connect with their credentials. You’ll have to manage connection statuses, webhooks, and more manually with this integration. | You want to build your own end-user facing connection experience instead of using our Connect Widget, or you’re looking to build a customized verification solution within your application. |
Choose Your Products
Our guide provides a step-by-step integration of how our products work together to help you verify the information you need to open deposit accounts. Your use case determines which of our products you need, so we’ve briefly described our products and how they contribute to Deposit Account Opening. If you decide you don't need one of these, skip that step in the guides that follow.
Instant Account Verification
Instant Account Verification (IAV) is used to fetch account and routing numbers. By verifying this data, you can continue with enabling payments or money movement to fund a deposit account quickly. IAV can also gather other data including the balance of the account at the time the account is verified. Use this data to verify the account information is accurate and determine if there are sufficient funds.
The IAV product can be used in two ways, depending on your integration method.
- By using the Connect Widget in
verificationmode. - By making a direct request to the verify member endpoint.
For more information, review our Instant Account Verification guides.
Account Owner Identification
Account Owner Identification (AOI) is used to fetch account owner information such as first and last name and possibly phone number or address. The information we return depends on what the financial institution has shared with us, so responses may vary. Use this product to reduce fraud risk by verifying the identity of your new account owner with the owner of the account you’ve linked.
The AOI product can be used in two ways depending on your integration method.
- By using the Connect Widget and configuring the Connect Widget to
include_identity: truewhen running the Connect Widget inverificationmode. This ensures that we gather the account owner information at the same time we gather the account and routing numbers. - By making a direct request to the identify member endpoint.
For more information, review our Account Owner Verification guides.
Balance Checks
Balance Checks is used to fetch real-time account balance. Remember, we return the account balance at the time of the connection when using IAV, so you only need to use Balance Checks if you plan on scheduling payments for the future, or moving money a time after you initially used IAV. This product is a great way to avoid non-sufficient fund (NSF) fees and ACH returns, so we encourage you to use balance checks anytime you're planning a payment after you've verified an account with IAV. For account funding, we suggest you use this product.
The Balance Checks product can only be used by making a direct request to the check balance endpoint. Even if you're using the Connect Widget (SDK or not), you'll need to use this endpoint because balance isn't available directly through the Connect Widget at this time.
For more information, review our Balance Checks guides.
Account Aggregation
Account Aggregation is used to gather financial data such as account details and transaction history. When your end user connects their primary accounts, retrieve their transactional data to learn more about their spending patterns and financial relationships and commitments. This can help you get to know your end user and explore additional opportunities for them.
The Account Aggregation product can be used in two ways depending on your integration method:
- By using the Connect Widget in aggregation mode.
- By using the Connect Widget with IAV (verification mode) and configuring the
include_transactions: true. This uses IAV and Account Aggregation at the same time. - By making a direct request to the aggregate member endpoint.
For more information, review our Account Aggregation guides.