Validate the Bank Account
For platforms using Subaccounts, this section is not applicable. The mechanism to perform bank account validation will be discussed as a part of the platform approval process.
POST /accountmanagement/v1/bank_scheme/bank_account_id/microdeposits
When you activate the merchant account successfully, by default the account has the status of PENDING. In order to be able to process transaction requests through the merchant account, you must validate the bank account that was added to this merchant account. The method for validating the merchant's bank account varies by region and bank scheme.
| Region | Bank Account Type | Validation Method |
|---|---|---|
| UK | BACS/SEPA/Wire |
|
| EU | SEPA/Wire |
|
| US | ACH |
|
| CA | EFT |
|
The first step is to initiate a microdeposit request in order to validate the bank account information, by sending a POST request to the microdeposits endpoint. As a result of a successful request, Paysafe will attempt to make a small deposit between 0.01 and 0.99 into the merchant's bank account, using the banking information that was provided during sign-up. The microdeposit should appear in the merchant's bank account in 1–2 business days.
If the microdeposit validation method fails for some reason, then the merchant must use one of the alternative validation methods.
Once Paysafe has made the microdeposit, the second step is to identify the amount and to return it to Paysafe in a microdeposit validation request. This validates that the merchant provided accurate bank account data.
This example is for validating a Canadian bank account using a microdeposit. Please consult the table above for validation methods for bank accounts for other regions. To validate an ACH bank account using a microdeposit, replace eftbankaccounts with achbankaccounts in the request below.
curl -X POST https://api.test.paysafe.com/accountmanagement/v1/eftbankaccounts/27e785b5-8cd7-42dd-9634-c41f8ccf267e/microdeposits \
-u devcentre322:B-qa2-0-53625f86-302c021476f52bdc9deab7aea876bb28762e62f92fc6712d0214736abf501e9675e55940e83ef77f5c304edc7968 \
-H 'Content-Type: application/json' \
-d ' {
}'
Prior to trying the example above, you should:
- Replace the bank account ID (27e785b5-8cd7-42dd-9634-c41f8ccf267e) with the id you received in response to the bank account creation request.
- Replace the API key (after the -u) with the API key you have received
{
"id": "58273d46-5702-4a1e-b5c6-3d21b5413588",
"status": "SENT",
"links": [{
"rel": "self",
"href": "https://api.test.paysafe.com/accountmanagement/v1/microdeposits/58273d46-5702-4a1e-b5c6-3d21b5413588"
}]
}
See our API Reference section for a list of all the JSON attributes and types available for the microdeposits endpoint.