Clearing Accounts

A Clearing Account stores funds meant for clearing purposes only. Funds can be held for receiving payments or payout reasons. Clearing accounts are pooled at our sponsor banks, so you do not take custody or ownership of the funds. Clearing Accounts are set up for the FinTech programs that do not have a Money Service Business (MSBs) licence. Funds must be stored temporarily and move only on receiving the instructions of a payor or a payee. Using the Create an Account API, you can open a Clearing Accounts for your business (person) upon Person's KYC (applicant) and Business's KYB approval. Clearing Accounts undergo review at Solid. A Clearing Account is not meant to be paired with card products. Account Number and Routing Number is issued to every Clearing Account on the Solid Platform. Accounts details are available via the Retrieve an Account API or the Solid Dashboard.

Features include:

  • Account Number & Routing Number
  • Account Funding
  • Push Payments (Intrabank, ACH, Wire, Check, Card)
  • Pull Payments (Intrabank, ACH, Check Deposit)
  • Statements (PDF and JSON)
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