Fees
cannot be taken on pay-ins to virtual accounts.
There are two types of Virtual Account, indicated by the VirtualAccountPurpose
:
COLLECTION
– Owned by Mangopay and usable by platforms and/or users for the purpose of collecting and reconciling incoming funds paid by users. Payouts are generally prohibited from the associated wallet except for refunds. The user can be categorized as a Payer or an Owner.USER_OWNED
– Owned by the wallet owner, enabling them to accept and store funds and make payments. KYC verification is required and the user must be categorized as an Owner.COLLECTION
, USER_OWNED
The type of the virtual account:COLLECTION
- Owned by Mangopay and usable by platforms and/or users for the purpose of collecting and reconciling incoming funds paid by users.USER_OWNED
- Owned by the wallet owner, enabling them to accept and store funds and make payments.PENDING
– The account creation request is being processed and full account details may not yet be returned. Any funds sent to the account are returned (if account details exist). PENDING
can transition to ACTIVE
or FAILED
.ACTIVE
– The account is active and can receive funds (see note about delayed UK CoP recognition for GB
accounts). ACTIVE
can transition to BLOCKED
or CLOSED
.BLOCKED
– The account is blocked and is not active. Any funds sent to the account are returned. This temporary status may be used during processes relating to user verification or fraud screening. BLOCKED
can transition to ACTIVE
or CLOSED
.CLOSED
– The account has been deactivated and is closed. Any funds sent to the account are returned. This is a final state.FAILED
– The account creation request failed or was rejected. This final state is rare. Any funds sent to the account are returned (if account details exist).VirtualAccountPurpose
:COLLECTION
– Owned by Mangopay SA or Mangopay UK Ltd., mentioning the platform’s trading name in the format “MGP PlatformTradingName
”USER_OWNED
– Owned by the owner of the associated wallet: FirstName
LastName
for Natural Users; Name
for Legal UsersLocalAccountDetails.Account
object has different properties depending on the virtual account Country
.InternationalAccountDetails.Account
object has different properties depending on the virtual account Country
.