Create Accounts

Setting up new accounts with Fondy using the Create Accounts endpoint is straightforward. Newly created accounts will initially have a 'Pending' status until approved. Once approved, the status will change to 'Active'.

By following these guidelines, you can efficiently create new business accounts, ensuring a seamless onboarding experience and quick access to Fondy’s services. For API-specific parameters and sample request/response formats, refer to the Create Account API documentation.

Step 1: Initiate the Account Creation

Use the Create Accounts endpoint to begin the process. Ensure all required fields are accurately completed, including:

Business name
Contact information
Additional necessary details specific to your account type

Step 2: Account Status 'Pending'

Upon submitting the account creation request, the new account will automatically enter a 'Pending' status. This status indicates the account information is under review and awaiting approval.

Step 3: Review and Approval Process

During the 'Pending' phase:

The submitted information is reviewed for accuracy and compliance.
Additional documentation or details may be requested to complete the verification process.

Step 4: Status Updates to 'Active'

After a successful review, the account transitions to 'Active' status. An 'Active' status enables full access to all features and services.

Step 5: Notifications and Communication

Notifications will be sent at key stages of the process:

When the account enters the 'Pending' status
Once the account is approved and becomes 'Active'

Any additional documentation requests or rejection details will be communicated via the following:

Email
The account dashboard

Additional Information

Key Features of the Create Accounts Endpoint

Feature	Details
Endpoint	Create Account
Description	Allows the creation of new Standard or Master and Wallet accounts
Use Case Example	Automatically creating a dedicated wallet for a new provider
Required Fields	Type, currency, and alias for the new account

Special Notes on Wallet Creation

When creating a Wallet Account, ensure a Master Account exists beforehand.
A Master Account ID is required to create Wallet Accounts.
Wallet accounts bypass the 'Pending' status and are immediately created with an 'Active' status.

Handling Rejections

If an account is not approved:

It will not transition to 'Active'.
A notification will be sent with the reason for rejection.

Steps for resubmission or appeal are provided in the rejection notification.

Support and Assistance

If you encounter issues or have questions during the account creation process, contact our support team at our contact page. We’re here to assist with any part of the setup process.