Overview
If you prefer not to create and manage limited DDA (Demand Deposit Account) bank accounts for your clients, this pathway offers a streamlined solution. It allows you to make direct payments to your clients without the need to set up additional accounts for managing their funds.
Inside the flow of funds
This pathway puts you inside the flow of funds. This means you make payments to your clients directly from your own Embedded Payments accounts. Your clients are not given Limited DDA bank accounts, and do not undergo the J.P. Morgan digital onboarding process. Before choosing this pathway in your Embedded Payments solution, you should consult your legal team on the implications of operating inside the flow of funds.
How it works
To use Embedded Payments without onboarding your clients to a J.P. Morgan bank account, you need to:
Add your clients' bank account details using the Recipients resource: Collect your client's existing bank account information and create a recipient record for them using the Recipients resource. This step ensures that you have the necessary details to facilitate direct payments.
Make payouts using the Transactions resource: Once the recipient record is established, you can initiate payouts to your clients directly from your platform using the Transactions resource. This allows for efficient and seamless financial transactions without the overhead of managing separate accounts.
By choosing this pathway, you can efficiently integrate Embedded Payments into your platform, providing a hassle-free payout experience for your clients, while maintaining control over the movement of funds.