Reserving An Account V1

To reserve an account on Monnify, you’ll need to call the reserve account endpoint providing the information in the table below (remember to also add the authentication header)

This endpoint is protected with OAuth 2.0 Bearer token

Endpoint URL: {{base_url}}/api/v1/bank-transfer/reserved-accounts

HTTP Method: POST

The {{base_url}} for test is https://sandbox.monnify.com but when you go live, it changes to the live url

Once an account number has been reserved for a customer, the customer can make payment by initiating a transfer to that account number at any time. Once the transfer hits the partner bank, we will notify you with the transfer details along with the accountReference you specified when reserving the account.

Here is a sample request and response to help get you started:

Reserve Account Request

Request Headers
Content-Type:"application/json"
Authorization:"Bearer eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzdWIiOiIxMjM0NTY3ODkwIiwibmFtZSI6IkpvaG4gRG9lIiwiaWF0IjoxNTE2MjM5MDIyfQ.SflKxwRJSMeKKF2QT4fwpMeJf36POk6yJV_adQssw5c"


Request Body
{
	"accountReference": "abc123",
	"accountName": "Test Reserved Account",
	"currencyCode": "NGN",
	"contractCode": "8389328412",
	"customerEmail": "test@tester.com",
	"customerBvn": "21212121212",
	"customerName": "John Doe"
}

Split payments on Reserved Accounts

incomeSplitConfig allows you to use split payments with your reserved accounts by specifying one or more sub-account(s) and a specific percentage of each payment to be credited into each sub-account. IncomeSplitConfig is an array of objects so you can split into multiple sub-accounts per transaction.

Reserve Account Request with SubAccount

Request Headers
Content-Type:"application/json"
Authorization:"Bearer eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzdWIiOiIxMjM0NTY3ODkwIiwibmFtZSI6IkpvaG4gRG9lIiwiaWF0IjoxNTE2MjM5MDIyfQ.SflKxwRJSMeKKF2QT4fwpMeJf36POk6yJV_adQssw5c"


Request Body
{
	"accountReference": "abc123",
	"accountName": "Test Reserved Account",
	"currencyCode": "NGN",
	"contractCode": "8389328412",
	"customerEmail": "test@tester.com",
	"customerName": "John Doe",
	"customerBvn": "21212121212",
	"incomeSplitConfig": [
    	{
    		"subAccountCode": "MFY_SUB_319452883228",
    		"feePercentage": 10.5,
    		"splitPercentage": 20,
    		"feeBearer": true
    	}
    ]
}

Reserve Account Request with Allowed Payment Sources

Request Headers
Content-Type:"application/json"
Authorization:"Bearer eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzdWIiOiIxMjM0NTY3ODkwIiwibmFtZSI6IkpvaG4gRG9lIiwiaWF0IjoxNTE2MjM5MDIyfQ.SflKxwRJSMeKKF2QT4fwpMeJf36POk6yJV_adQssw5c"


Request Body
{
	"accountReference": "abc123",
	"accountName": "Test Reserved Account",
	"currencyCode": "NGN",
	"contractCode": "8389328412",
	"customerEmail": "test@tester.com",
	"customerName": "John Doe",     
	"customerBvn": "21212121212"
	"incomeSplitConfig": [
    	{
    		"subAccountCode": "MFY_SUB_319452883228",
    		"feePercentage": 10.5,
    		"splitPercentage": 20,
    		"feeBearer": true
    	}
    ],
	"restrictPaymentSource": true,
    "allowedPaymentSources": {                                         
               "bvns": [
                 "21212121212",
                  "20202020202"
                ],    	
                "bankAccounts": [
    			{
    				"accountNumber": "0068687503",
    				"bankCode": "232"
    			}
    		],
    	   "accountNames": [
    			"SAMUEL DAMILARE OGUNNAIKE"
    			]
    }
}

Reserve Account Response

Field Reference

^(M) indicates fields that are mandatory in the request body. ^(m) Indicates fields that are mandatory only if the parent object is not empty.

Field	Description

Field	Description
accountReference ^(M)	Your unique reference used to identify this reserved account
accountName ^(M)	The name you want to be attached to the reserved account. This will be displayed during name enquiry
currencyCode ^(M)	Currency for transactions to this reserved account. Should be “NGN”
contractCode ^(M)	Contract Code (See your Monnify dashboard)
customerEmail ^(M)	Email address of the customer who the account is being reserved for. This is the unique identifier for each customer.
customerName	Full name of the customer who the account is being reserved for
customerBvn	BVN of the customer the account is being reserved for. Although this field is not mandated, merchant's in the regulated business categories are required to provide BVN for a reserved account before those accounts can accept payments.
	Object containing specifications on how payments to this reserve account should be split.
restrictPaymentSource	A boolean value to activate or de-activate restricting payment sources for a reserved account. If set to true, at least one of bvns or accountNames or bankAccounts in allowedPaymentSources object must be supplied. Click here to learn more about source account restriction.
allowedPaymentSources	Object capturing bvns or account numbers or account names that are permitted to fund a reserved account. This is mandatory if restrictPaymentSource is set to true. Click here to learn more about source account restriction. For merchants in the regulated business category, only the customerBvn and allowed payment source BVNS (if any) can fund a reserve account.
subAccountCode ^(m)	The unique reference for the sub account that should receive the split.
feeBearer	Boolean to determine if the sub account should bear transaction fees or not
feePercentage	The percentage of the transaction fee to be borne by the sub account
splitPercentage	The percentage of the amount paid to be split into the sub account.
bankName	Name of the bank where the virtual account was created
bankCode	Bank code of the bank where the virtual account was created
accountNumber	virtual account number generated for the accountReference (Reserved account number)
status	Status of the reserved account number ("ACTIVE" means the account can be used)
createdOn	Date reserved account was created