Financial Business FBO Accounts

An financial business fbo account (which stands for “For Benefit Of”) is a bank or investment account that is set up to receive funds on behalf of a third party or “beneficiary,” such as a person, trust, business, or organization.

Suggestion

Unit provides a cross-platform suite of flexible and customizable UI components, including an account component and an account activity component. You may embed these components into your app to shorten your time to market and deliver a highly optimized experience to your end customer with minimal engineering investment.

Unit financial business fbo accounts can belong to an fbo business customer.

Create Financial Business FBO Customer

Creates a financial business fbo customer.

Verb	POST
URL	https://api.s.unit.sh/customers
Required Scope	accounts-write
Data Type	businessFBOCustomer
Timeout (Seconds)	5

Attributes

Name	Type	Description
businessName Required	string	Name of the business.
address Required	Address	Address of the business.
businessVertical Required	BusinessVertical	The business vertical of the business.
numberOfEmployees Required	NumberOfEmployees	Number of employees of the business.
bankName Required	string	the name of the bank.
tags Optional	object	See Tags.
idempotencyKey	string	Optional, but strongly recommended. See Idempotency.

Relationships

Name	Type	Description
org Required	JSON:API Relationship	The org that the linked account belongs to.

Example Request:

curl -X POST 'https://api.s.unit.sh/customers'
-H 'Content-Type: application/vnd.api+json'
-H 'Authorization: Bearer ${TOKEN}'
--data-raw '{
  "data": {
    "type": "businessFBOCustomer",
    "attributes": {
      "businessName": "Pied Piper",
      "address": {
        "street": "1463 41st Avenue",
        "city": "San Francisco",
        "state": "CA",
        "postalCode": "94122",
        "country": "US"
      },
      "businessVertical": "RepairAndMaintenance",
      "numberOfEmployees": "Between10And50",
      "bankName": "Piermont",
      "tags": {},
      "idempotencyKey": "3a1a33be-4e12-4603-9ed0-820922389fb9"
    },
    "relationships": {
      "org": {
        "data": {
          "type": "org",
          "id": "1"
        }
      }
    }
  }
}'

Response

Response is a JSON:API document.

201 Created

Name	Type	Description
data	BusinessFBOCustomer	The requested resource after the operation was completed.

Example Response:

{
  "data": {
    "type": "businessFBOCustomer",
    "id": "1",
    "attributes": {
      "createdAt": "2023-07-23T09:13:18.926Z",
      "businessName": "Pied Piper",
      "name": "Piermont for the benefit of Pied Piper",
      "businessVertical": "RepairAndMaintenance",
      "bankName": "Piermont",
      "numberOfEmployees": "Between10And50",
      "address": {
        "street": "1463 41st Avenue",
        "city": "San Francisco",
        "state": "CA",
        "postalCode": "94122",
        "country": "US"
      },
      "tags": {}
    },
    "relationships": {
      "org": {
        "data": {
          "type": "org",
          "id": "1"
        }
      }
    }
  }
}

Create Financial Business FBO Account

Creates a financial business fbo account for a Customer . An account.created event is raised when the call was successful.

Each financial business fbo account is created using a specific deposit product. A deposit product is a predefined set of terms associated with this financial business fbo account (e.g. interest rate, spending limits).

Use checking as the default value for the deposit product field while building your solution in Sandbox. Contact Unit to create other deposit products under your organization.

Financial business fbo Account creation request supports Idempotency, ensuring that performing multiple identical requests will have the same effect as performing a single request.

A successful account creation will result in an account in Open status. Later on, accounts can be either frozen, closed and in some cases reopened.

Verb	POST
URL	https://api.s.unit.sh/accounts
Required Scope	accounts-write
Data Type	financialBusinessFBOAccount
Timeout (Seconds)	5

Attributes

Name	Type	Description
depositProduct Required	string	The name of the deposit product.
tags Optional	object	See Tags.
idempotencyKey Optional	string	See Idempotency.

Relationships

Name	Type	Description
customer	Required for financial business fbo accounts. JSON:API Relationship	The customer the financial business fbo Account account belongs to. The customer is a fbo business customer.

Important Info

You must provide exactly one customer.

Example Request:

curl -X POST 'https://api.s.unit.sh/accounts'
-H 'Content-Type: application/vnd.api+json'
-H 'Authorization: Bearer ${TOKEN}'
--data-raw '{
  "data": {
    "type": "financialBusinessFBOAccount",
    "attributes": {
      "depositProduct": "checking",
      "tags": {
        "purpose": "fbo"
      },
      "idempotencyKey": "3a1a33be-4e12-4603-9ed0-820922389fb8"
    },
    "relationships": {
      "customer": {
        "data": {
          "type": "customer",
          "id": "8"
        }
      }
    }
  }
}'

Response

Response is a JSON:API document.

201 Created

Name	Type	Description
data	FinancialBusinessFBOAccount	The requested resource after the operation was completed.

Example Response:

{
  "type": "financialBusinessFBOAccount",
  "id": "1",
  "attributes": {
    "createdAt": "2023-07-12T10:19:30.409Z",
    "name": "Thread Bank for the benefit of Pied Piper Inc.",
    "status": "Open",
    "depositProduct": "checking",
    "routingNumber": "812345678",
    "accountNumber": "1000000002",
    "currency": "USD",
    "balance": 10000,
    "hold": 0,
    "available": 10000,
    "tags": {
      "purpose": "fbo"
    }
  },
  "relationships": {
    "customer": {
      "data": {
        "type": "customer",
        "id": "8"
      }
    }
  }
}