Fund Collection Automation

The IF Platform can automatically collect funds to and from client accounts. These collection transfers require specific account configurations, which are set up when your instance is created. These configurations are known as operational routes, and they define the source and destination accounts for each collection. The setup must align with the service provider and its account model.

Fund Collection Reasons:

• Fee Collection: Any fees related to a transaction are recorded separately and collected into an organization account designated as the Fee Collection Account.
• Card Transaction Collection: Amounts spent by clients via card are collected into an organization account designated as the Card Collection Account. This automation helps streamline payments to the issuer.
• Suspended Funds Collection: Any transfers that are rejected due to compliance issues (incoming or outgoing) are moved to an organization account designated as the Suspense Account.
• Generic Transaction Collection: Some generic transactions may require an operational transfer. If this is the case, they are also handled through a collection account.

 Collection Methods:

• Instant: An instant collection means that each transaction’s related amount is collected individually after the transaction is updated to the required state.
• Deferred: In deferred collection, amounts for each reason are recorded in separate buckets or ledgers. At the end of each hour, the aggregated amounts are collected in a single transfer.

The table below shows which collection methods are available for different account models: