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Open a savings account

A savings account enables you to offer savings products to your customers. Learn more about savings accounts.

Prerequisites​

  • You will need your organization-bank-accounts-url (shown as $ORGANIZATION_BANK_ACCOUNTS_URL in the examples below). Your organization-bank-accounts-url is one of the URLs returned when you request your organization-url. If you don't have your organization-url yet, check out our getting started guide.

  • Before you can open an account for a customer, they will need to be onboarded. Check out our guide for onboarding customers.

Request​

  • Set the bank-product-type to savings-account
  • Set the savings-type to easy-access
  • Set the owner-url to the legal person URL who is entitled to the money in the account
note
  • Only easy-access savings account are available right now.
  • The beneficiary and owner are the same legal person.
curl "https://api.griffin.com${ORGANIZATION_BANK_ACCOUNTS_URL}" \
  -X 'POST' \
  -H "Authorization: GriffinAPIKey $GRIFFIN_API_KEY" \
  -H 'Content-Type: application/json' \
  --data '
{
  "bank-product-type": "savings-account",
  "savings-type": "easy-access",
  "owner-url": "$CUSTOMER_LEGAL_PERSON_URL"
}'

Synchronous Response​

A successful response look like this.

{
    "savings-type": "easy-access",
    "account-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A",
    "pooled-funds": false,
    "available-balance": {
        "currency": "GBP",
        "value": "0.00"
    },
    "account-restricted": false,
    "display-name": "savings-1",
    "beneficiary-url": "$CUSTOMER_LEGAL_PERSON_URL",
    "account-balance": {
        "currency": "GBP",
        "value": "0.00"
    },
    "account-transactions-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/transactions",
    "created-at": "2023-12-07T17:03:20.757Z",
    "account-payments-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/payments",
    "bank-product-type": "savings-account",
    "bank-addresses": [],
    "owner-url": "$CUSTOMER_LEGAL_PERSON_URL",
    "close-account-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/actions/close",
    "account-admissions-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/admissions",
    "account-status": "opening",
    "account-submissions-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/submissions",
    "controller-url": "/v0/legal-persons/lp.Ph9xPUvzULGohmZ4_u_TDw"
}

This response indicates that you have successfully requested the creation of a new savings account. The account-status will likely be opening since their are some background preparatory tasks that need to finish befoe the account can be used. These take place automatically, so you can simply poll the account-url endpoint until the account-status is open.

NOTE: If you have created a webhook for your organisation you can also listen for the account-status-updated webhook event and track account-status.

Learn more about the account lifecycle.

Poll for status​

Poll the account-url endpoint.

curl "https://api.griffin.com${ACCOUNT_URL}" \
  -X 'GET' \
  -H "Authorization: GriffinAPIKey $GRIFFIN_API_KEY" \
  -H 'Content-Type: application/json' \

When the account-status is open, the account is ready for use.

{
    "savings-type": "easy-access",
    "account-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A",
    "pooled-funds": false,
    "available-balance": {
        "currency": "GBP",
        "value": "0.00"
    },
    "account-restricted": false,
    "display-name": "savings-1",
    "beneficiary-url": "$CUSTOMER_LEGAL_PERSON_URL",
    "account-balance": {
        "currency": "GBP",
        "value": "0.00"
    },
    "account-transactions-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/transactions",
    "created-at": "2023-12-07T17:03:20.757Z",
    "account-payments-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/payments",
    "bank-product-type": "savings-account",
    "bank-addresses": [],
    "owner-url": "$CUSTOMER_LEGAL_PERSON_URL",
    "close-account-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/actions/close",
    "account-admissions-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/admissions",
    "account-status": "open",
    "account-submissions-url": "/v0/bank/accounts/ba.IcqDdMDxT7OaYRznoit-7A/submissions",
    "controller-url": "/v0/legal-persons/lp.Ph9xPUvzULGohmZ4_u_TDw"
}