Account State Management
Account state and state transitions for Interlace accounts.
Account state management refers to tracking and managing the status of a user's account, ensuring consistent and accurate information across different parts of a system or application based on account activity, balances and other attributes. This involves handling aspects like authentication, authorization, user settings, and persistent data related to a user's activity.
Key Points
- Accounts are created in a Pending Open state until an account is funded.
- Accounts cannot be opened until KYC/KYB is done on the customer that owns the account.
| Status | Description |
|---|---|
| Closed | Closed by the account holder. This is a soft delete, but a terminal state where the user cannot reopen the account. |
| Delinquent | The account has had a negative balance for an extended period and now is Delinquent. Defaults to 60 days. |
| Open | The account is available to transact in any way. |
| Pending Close | When an account is requested to close but is still holding a balance. In this case the user can withdraw funds but cannot deposit funds, and the state will be Pending Close. |
| Pending Open | When an account is waiting to be funded. |
| Restricted | When an account has been blocked due to Fraud Risk. This account cannot make or receive any transactions. |
Account States to Card States:
| Account State | Card State | Description |
|---|---|---|
| Restricted | Blocked | When an account is Restricted, we require that no transactions should occur on this account, which means all cards must also be Blocked. |
| Delinquent | Blocked | When an account is Delinquent, we need to Block the card so no transactions can happen. |
| Closed | Cancelled | When an account is closed all cards for that account should be Cancelled. |
| Open (Reopened) | Unblocked | If a restricted account is Reopened, then the cards for the account need to be Unblocked. |
Updated 2 months ago
What’s Next
Checkout our Account Management APIs
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