Fallback Accounts

A Fallback Account is meant to serve as a fallback to a primary account if the primary account does not have sufficient funds. The primary account can be a Checking Account, Card Account, Clearing Account, or Funding Account. Using the Create an Account API, you can open a Fallback Account for an individual (person) upon Person's KYC approval or a business (person) upon Person's KYC (applicant) and Business's KYB approval. The purpose of a Fallback Account is to make up for the deficit in a primary account caused by drawing more money than the account holds. Fallback Accounts prevent a Not Sufficient Funds (NSF) reversal on a debit transaction, both as an ODFI and RDFI. Account Number and Routing Number is issued to every Fallback Account on the Solid Platform. Accounts details are available via the Retrieve an Account API or the Solid Dashboard.

You can designate a Fallback Account for ACH or Card transactions using the Account Config API.

Features include:

  • FDIC Insurance
  • Account Number & Routing Number
  • Account Funding
  • Push Payments (Intrabank)
  • Pull Payments (Intrabank)
  • Statements (PDF and JSON)
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