The payment account
Each verified space — company or personal — has exactly one payment account. It is provisioned automatically when verification passes; there is nothing to request. The account is the umbrella for everything money-related in that space: its wallets, its balances, and the documents that describe it.
An account can be active while a particular rail is still closed. Account status answers “can this space move money at all”; rail standing answers “over which route” — see Money movement.
Wallets
An account holds wallets of two kinds.
A first fiat wallet and a first stablecoin wallet are created when the account activates. You can add more wallets to the same account as you need them.
Balances
Every balance is reported as a decimal string, not a floating-point number, so no value is lost on the way to your code. Each wallet reports three components:available is the only figure a payment is priced and authorised against. A balance you can see in pending cannot be spent until it settles.
Statements and letters
Two documents are produced per account:- an account statement for a period you choose,
- a bank letter confirming the account’s details, for counterparties who ask for one before paying you.
What gates an account
Two things stand between a space and money movement, and they fail differently:- Verification. Until it passes, the account does not exist and no money can move.
- Tier. A company verified at a lighter tier may be able to receive funds while outbound movement stays closed. The dashboard shows which applies to you.
Related
Money movement
What you can do once a wallet holds a balance.