Overview

The Reserved Account APIs provide you with a seamless way to create and manage virtual accounts for your customers. Once a virtual account is created for a customer, the customer can then receive payment, and make transfers with Collect’s APIs.

All Reserved Accounts can be managed using the Reserved Account APIs. However, note the following considerations:

If you are creating reserved accounts for your customers, then we assume you have a wallet system that will hold the wallet balance

Once you create a reserved account, that account will be mapped to your business and your main wallet

If payment is made into any of your reserved accounts, your main wallet will be credited and we will notify you via webhook (You can add a webhook to your account via the collect dashboard under settings). Your business logic will then determine how you settle your customer's wallets.

For transfer, you will first debit your customer’s wallet and then initiate the transfer via your main account (Your main wallet will be debited). We will notify you via your webhook if it’s successful or failed (You can then do reversal)