Standard accounts
Understanding the Standard Account Type
The Standard Account is structured around a centralized balance model, wherein all capital is held in a single master account. This architecture streamlines fund management by creating a unified pool of funds accessible by multiple linked payment cards. The following sections detail its principal components and functionalities.
Wallet Limits
The account is governed by limits configured at the program level. These limits apply to the master account as a whole, not to individual cards linked to it.
Wallet Balance
The core of the Standard Account is its centralized/shared balance. All funds, whether from top-ups or incoming transfers, are credited to this single master account, also known as a wallet. This balance represents the total available funds for all financial activities associated with the account.
Wallet Transactions
All non-card transactions directly impact the central wallet balance. This includes:
- Top-ups: Adding funds to the account increases the account balance.
- Transfers: Sending or receiving money from other accounts will debit or credit the account balance.
- Partner fees: Any service fees are deducted directly from this account balance.
Every transaction is recorded and immediately reflected in the total available funds.
Card Transactions
In a standard account, all funds are held in a single master account. Every card linked to this account draws from this central balance to process payments.
For example, if an account has a $1,000 balance with three linked cards, all three cards share that same $1,000. If one card is used for a $400 purchase, the available balance for all cards immediately becomes $600.
Therefore, the balance in the master account determines the collective spending power for every linked card. The cards act as access points to the single pool of funds, rather than holding individual balances themselves.
Shared Authorization model is also available as an optional feature for Standard Account types. This will enable the partner to participate in the authorization process by having the ability to run their own business logic before a transaction is authorized. However, on the standard account, a “partner ledger” and a debit to the “customer assigned balance” are not required on the partner side. The approval or rejection given by the partner will be based only on the business logic that they ran.
Record Keeping
A significant advantage of the Standard Account model is simplified record-keeping. Since all transactions—whether they are top-ups, transfers, or purchases from any linked card—are tied to a single master account, they are consolidated into one unified statement. This provides a complete and chronological history of all financial activity, making it easy to track spending and manage finances without needing to reconcile multiple statements.
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