How to open a deposit account

CR provides a number of different types of deposit accounts, including DDAs and Certificates of Deposit (CDs or time deposit accounts).

To open any kind of deposit account you must have a valid product ID for the type of account you want to open, and a customer ID (onboarded customer record ID) for the account holder. Note that the account holder must have at least one address and phone number in their customer record, and their OFAC status must be Clear. In addition, the classification of the customer must match the configured classification for the product. For example, only business customers can be added to a business product.

In this tutorial, you'll learn how to

Open a customer master account

The tutorial uses these API endpoints:

The tutorial uses these webhooks:

Before you begin

Make sure you have:

• API credentials

• Partner ID

• Customer ID

• Product ID (defines the type of account being opened)

1. Register the relevant webhook events

To receive the webhook events for this tutorial both partner accounts need to register each specific webhook event type. Once you are registered, the event objects are sent to the registered URLs.

The event object contains a list of resource identifiers used to download details on each event.

2. Open a DDA account

This tutorial shows you how to create a deposit account. In this scenario, you'll open an account for Jana Parker, a customer who you successfully onboarded.

a. To open an account

1. Call POST /v1/dda/accounts. For this call, some attributes are required. A full list of attributes is found here.

   Copy

   Sample request with JSON

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   POST /core/v1/dda/accounts
   {
     "customerId": "59e3bc15-bbec-4990-88e9-a9a600d3296c",
     "productId": "44015e68-1afb-40fc-9497-abc1014f52da",
     "title": "Jana Parker",
     "statementAddress": {
       "street1": "257 Dalton Groves",
       "city": "Barton City",
       "state": "MI",
       "postalCode": "48705",
       "countryCode": "US"
     }
   }

2. A successful API call returns a JSON response with the details of the new account.

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{
  "accountNumber": "2348751955",
  "status": "Active",
  "accountType": "Deposit",
  "ledgerType": "Passthrough",
  "classification": "Personal",
  "productType": "Checking",
  "productId": "44015e68-1afb-40fc-9497-abc1014f52da",
  "title": "Jana Parker",
  "currentBalance": 0,
  "holdAmount": 0,
  "transactionCount": 0,
  "availableBalance": 0,
  "creditLimit": 0,
  "customerId": "59e3bc15-bbec-4990-88e9-a9a600d3296c",
  "statementAddress": {
    "street1": "257 Dalton Groves,
    "city": "Barton City",
    "state": "MI",
    "postalCode": "48705",
    "countryCode": "US"
  },
  "openedAt": "2021-01-26T09:46:10.0931461-05:00",
  "lastMaintenanceAt": "2021-01-26T09:46:10.0931461-05:00",
  "partnerId": "e6c3824a-377f-44d5-a2f6-a9a600c9b37e",
  "lastModifiedAt": "2021-01-26T09:46:10.1011462-05:00"
}

3. The accountNumber field provides the account number for the new account.

4. In the response example, the account is classified as Personal because the user configured the product classification as Personal. The account classification always matches the configured product classification.

5. The account status is automatically updated to Active, and is immediately available for use. This triggers the Core.Account.Opened event.

{
  "id": "259cdbca-6a89-4af8-a50e-ada3010fb13f",
  "eventName": "Core.Account.Opened",
  "status": "Pending",
  "partnerId": "e6c3824a-377f-44d5-a2f6-a9a600c9b37e",
  "createdAt": "2021-01-26T09:48:10.1011462-05:00",
  "resources": [
    "core/v1/dda/accounts/2235223803"
  ],
  "details": []
}