Accounts

There 3 different types of accounts in IF Platform.

1. Client Accounts: These accounts can only be issued for clients. They only support single currency model, so if there is a service provider issuing multicurrency accounts, they are reflected as multiple client account records. These will be deprecated in the upcoming months and replaced with Bank Accounts / Transaction Accounts pair.
2. Bank Accounts: These accounts can only issued for organization for now. They'll also be used as client accounts in the future. They only exist to be able to represent the connection between IF Platform and the service provider. Both single currency and multicurrency accounts have a single bank account representation on IF side. The multiplication of currencies and balances are achieved by Transaction Accounts.
3. Transaction Accounts: These accounts are created in a single currency and they hold a single balance. For the service providers that issue single currency accounts, there is a 1 to 1 relation between Bank Accounts and Transaction Accounts. For the service providers that issue multicurrency accounts, there is a 1 to n relation between Bank Accounts and Transactions Accounts. Account information like IBAN / account number can be accessed via Transaction Accounts.