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An Account is an object that can hold, send, and receive funds. Fintoc accounts combine the features of a traditional bank account with the flexibility of a real-time, dynamic ledger. Fintoc accounts are for businesses only, and they cannot be overdrafted. They’re designed to give you visibility into granular transfer activity, offering transparency and operational efficiency.

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Root Account

Root Accounts are owned by a Root Entity. The funds in these accounts are directly owned by your company. When you start using Fintoc, a root account is created automatically. This account cannot be modified.

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Balance

Every Account object includes an available_balance attribute. This balance reflects the amount of money currently available to spend. Because Fintoc accounts do not allow overdrafts, any request to move more than the available balance will fail. Pending transfers will immediately deduct funds from your balance. If the transfer fails, those funds will be returned.