Payout Sub-account

Hello, i wanted some details on payout sub-account.

  1. I would like to know how to credit and debit a payout sub-account.

  2. Is it possible to receive an international bank transfer on a payout sub-account?

  3. And finally, the payout sub-account also accepts dollars as a currency?

Hi @maestrojims

Thanks for contacting Flutterwave!

My name is Abraham, and I will be helping you today.

A Payout Sub-account or PSA are wallets in NGN, USD, EUR, GBP that collect payments via NGN, USD, EUR and GBP Virtual Accounts Numbers also called VANs

The relationship between you and the PSA is 1:M (One-to-Many) meaning you can have 1 or more PSAs.

  1. you can use the transfer endpoint to credit/debit a PSA. you can as well make a transfer to the VAN linked to the PSA wallet.

  2. yes it is possible to receive an international bank transfer on a payout sub-account.

  3. yes, a PSA has a USD wallet so it accepts dollars as a currency.

Hello @Abraham_Olaobaju
Thank you for you response. So how to receive the international bank transfert in the payout sub-account? If iban or swift code needed.

HI @maestrojims

On creation of the PSA, the iban or swiftcode is returned as details of the VAN.

{
  "status": "success",
  "message": "Payout subaccount created",
  "data": {
    "id": 699,
    "account_reference": "PSAFF2118D1A33844332",
    "account_name": "Flutterwave Developers",
    "barter_id": "234000001708294",
    "email": "developers@flutterwavego.com",
    "mobilenumber": "09012903324",
    "country": "NG",
    "nuban": "6222126177",
    "bank_name": "Sterling Bank",
    "bank_code": "232",
    "status": "ACTIVE",
    "created_at": "2022-03-04T19:57:24.000Z"
  }
}

@Abraham_Olaobaju there is no iban or swift code

@maestrojims This does not apply to Nigerian VANs.

How to create a no nigerian VANs with flutterwave API?

Hi @maestrojims

please read through this section of the docs on how to get VANs of a PSA in other supported currencies. Payout Subaccounts

Regards

{
“status”: “error”,
“message”: “Merchant not approved for this currency”,
“data”: null
}

That’s the response i receive

Hi @maestrojims

Only NGN is available by default. For other currencies USD, GBP and EUR, Approval is required.

Please send an email to hi@flutterwavego.com to get approval.

Regards

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