Account

An Account can hold, send and receive money.

• They are business-only
• Can't be overdrafted.
• Every Account belongs to exactly one Entity.

Root Account

When your Root Entity is created, Fintoc automatically creates a Root Account for your company's money. You can't modify or delete it.

Multiple Accounts

You can create more Accounts under your own Entity (for example, to segregate balances per product line) or under your customers' Entities (for per-client sub-accounts). See Create more accounts.

Account Statements

Every Account has a monthly statements generated automatically. You can list and download them using GET /v2/accounts/{account_id}/statements. See Account Statements for details.

Balance

Every Account has an available_balance. Pending outbound transfers deduct from it immediately; if they fail, the funds are restored.

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Applies to Mexico Accounts

As a regulated Transmisor de Dinero (Money Transmitter), Fintoc must sweep all account funds daily at 5:30 PM (CST) to your registered external bank account. This will no longer apply once Fintoc obtains its IFPE license.

The settlement appears as an outbound transfer with the Fintoc daily settlement comment and triggers a transfer.outbound.succeeded webhook.

Operational considerations