Monnify allows you as a merchant create subaccounts so you can be able to split payments between different accounts. You can easily split a single payment across multiple accounts. This means for one transaction, Monnify can help you share the amount paid between up to 5 different accounts.
In order to be able to split payments between sub accounts, you will need to create subaccounts. This can be done either through API’s or through the Monnify Dashboard.
Sub Accounts on Monnify Dashboard
Create Sub Accounts
Step 1: You login to your monnify dashboard with your credentials
Step 2: You select sub accounts from the left tab options
Step 3: You are then shown a create a Sub Account button, you click on it to create a sub account
Step 4: A screen pops up with a form where you provide details of the account you want to use for the sub accounts. You’d need to provide bank information, settlement account number, currency, email and transaction split percentage.
Step 5: Once you are done, click on the Create Account button and the sub account is created.
Edit Sub Account
You can edit a sub account details you have created. For example, you can change the percentage to be split, the account details of the sub account etc
You can edit by just clicking on the edit icon as shown on the image below:
Delete Sub Account
You can also delete any sub account you created on your monnify platform by clicking the edit icon, a pop up screen is shown to you where you can either edit and save changes or you delete the account.
On clicking the delete account button, the account is deleted from the list of sub account you have created.
Sub Accounts Using Monnify API
Here is the documentation on creating and managing sub accounts via APIs: