Account Types

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Key Notes

KYC Requirement: Complete KYC verification to unlock account functionality.

Account Creation: After KYC approval, create a CHECKING account to access multi-currency features.

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1. CHECKING

How to Top-Up an Account?

• Description:
  A standard multi-currency account, primarily used for general funds management.
• Funding Methods:
  • Cryptocurrency deposits.
  • External acquiring services (On-ramp).
• Typical Use:
  • Regular transactions, including deposits, transfers, and payment processing.

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2. CARD_PREPAID

How to Top-Up an Account?

• Description:
  A prepaid card account linked to a physical or virtual card for specific payment purposes.
• Funding Methods:
  • Internal transfers or currency exchanges from other accounts.
• Typical Use:
  • Prepaid transactions.
  • Controlled spending for security without linking to a traditional bank account.
  • Withdrawals.

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3. BANK_ACCOUNT_VIRTUAL

How to Top-Up an Account?

• Description:
  A virtual bank account (IBAN) that functions like a traditional bank account for international transactions.

• Funding Methods:

  • Internal transfers or currency exchanges within the Vault system.

• Typical Use:

  • Receiving and sending international payments via SEPA.
  • Managing currency conversions for global transactions using the Exchange operation.

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If no accountType is specified during account creation, it defaults to CHECKING.