Managed Account Paylet
What is a Managed Account?
A Managed Account is a stored value, a balance, that holds a Corporate Identity’s funds and primarily exists to facilitate the movement of funds in and out of OPC. Rather than deposit funds directly onto say, a Virtual Card instance, a user is expected to deposit funds onto a Managed Account – subsequently deposited funds can be transferred to other Managed Instruments as appropriate.
A Managed Account is owned by a Corporate Identity, but a Managed Account does not own any other Paylet Type. Relations can be created with other Instrument Paylets to allow Transaction Paylets to move funds between related Instruments. Refer to the Managed Accounts Swagger documentation for the complete list of APIs that may be invoked in relation to Managed Accounts.
Managed Account Paylet API
||POST||Retrieve a list of Profiles that can be used to create an instance of a Managed Account|
||POST||Retrieve details of a specific Managed Account profile|
||POST||Create a new Managed Account for the Programme|
||POST||Retrieve a list of Managed Accounts instances|
||POST||Retrieve a single Managed Account using the supplied ID|
||POST||Retrieve the Account statement for the specified Managed Account instance (shows all the transaction activity within a specified period)|
Managed Account Instance Attributes
|Id||The ID of a Managed Account instance|
|Programme Id||The ID of the Programme that the Managed Account instance|
|Profile Id||The Profile used to create the instance of the Managed Account|
|Owner Id||The owner identity of the Managed Account|
|Friendly name||A user-friendly name used to identify the instance of a Managed Account|
|State||State of a Manged Account Instance – this can be active, inactive or destroyed|
|Currency||The base currency of the Managed Account instance|
|Issuing provider||The issuing provider providing the financial underwriting for funds held in the managed account|
|Balances||Balances of the Managed Account – as in the case of Managed Card there is an Actual Balance and an Available Balance|
|Block Types||Block codes why a Managed Account is blocked.|
|Creation Timestamp||The date and time the Managed Account was created|
|Actions||Indicates the actions which may be performed on a Managed Account in its current state|
The balance of a Managed Account can only be in a one currency. If there is a requirement to maintain segregated funds in the same or different currencies then it is possible to set up multiple Managed Accounts instances.
When created, a Managed Account is assigned a unique account reference number and initialised to an active state - the available and actual balances will be set to zero until funds are transferred into the Managed Account. On creation of the Managed Account the system validates that the Managed Account name is unique across the instruments of a specific Corporate Identity and that the currency type is supported.
A Managed Account can be in one of two states. If the account is Active, then the Managed Account can be used for transfer of funds to or from the Managed Account. If the Managed Account state is that of Destroyed, then it is no longer available for use and this state is final. If there are funds left on a Managed Account that has been destroyed, a Transfer transaction can be performed to move the remaining funds. A Managed Account can be blocked (restricted) by the Programme Manager or by an automatic process triggered within OPC. The Corporate Identity would not be able to use funds in a blocked Managed Account while it is blocked. The Programme Manager can un-block the account if they are satisfied there is no longer a risk.
Note that currently only GBP currency is supported.