Moov now supports general ledger and loan linked bank account types. Loan accounts allow sending credits to external loan accounts for repayment. General ledger accounts allow financial institution users to link their general ledger accounts.
The data for cardCategory, regulated, and commercial has been updated for test mode cards.
For the test card starting with number 411111:
cardCategory is “PERSONAL”
regulated is true
For the test card starting with number 601111:
cardCategory is “TRADITIONAL REWARDS”
commercial is true
Sweeps & scheduling betas
Sweeps (beta)
You can now set up sweeps, which work on autopilot, sending daily transfers to external bank accounts. A sweep will payout funds from a wallet, or pull funds to cover fees and chargebacks. Contact us if you’d like to try out sweeps.
See our sweeps guide and API documentation for more information.
Scheduled transfers (beta)
We’re making it easier to create future-dated transfers through scheduling. Moov is looking for early adopters to test scheduling in beta and provide feedback.
You can now use our API to generate a public key for passing secure authentication data through non-PCI compliant intermediaries, or create a JWE test token to ensure it’s acceptable by Moov.
All input pseudo-classes are now supported on Moov’s composable Drops. You can style Drops based on form validity, user input interaction, and input value. Visit our Drops documentation for more information.
An issue with input validity has been fixed.
Instant micro-deposit verification
Instant micro-deposit verification
Instant micro-deposit verification introduces a faster and easier way to verify bank account ownership. This feature enables instant account verification for RTP-enabled bank accounts, allowing users to complete the process in seconds — an improvement over the traditional, multi-day, micro-deposit method. For accounts not yet RTP-enabled, the code is sent via same-day ACH.
Use instant micro-deposit verification to:
Instantly verify accounts for RTP-enabled banks in a single session
Ensure broad compatibility with automatic fallback to same-day ACH for other institutions
Meet Nacha account validation requirements
Enhance user experience with a quick, easy verification process
How it works:
Moov sends a $0.01 credit to the user’s bank account
This credit contains a unique verification code
Users retrieve and enter the code to verify their account instantly (for RTP) or later that day (for same-day ACH)
New fields, commercial and regulated, will now be included in successful responses for the link a card, update a card, retrieve a card, and list cards endpoints. Both of these fields provide additional details for a card:
commercial indicates whether the card is for commercial or personal use
regulated indicates whether the card’s issuing bank is subject to capped debit interchange rates under the Durbin Amendment. This is determined by the asset size of the issuing bank. A value of true means the issuing bank’s asset size qualifies for the cap on interchange fees.
Hosted onboarding
Hosted onboarding (coming soon)
Soon you’ll be able to use Moov’s hosted onboarding forms to cut down the time it takes to onboard users. You’ll create an invite and send a secure form link from the Moov Dashboard. Users will move through the onboarding flow and provide data necessary to fulfill capability requirements, agree to pricing, and accept Moov’s terms. Once users complete the onboarding form, you’ll be notified in the Dashboard that they’re ready to move money. You can start building for this new flow now.
You can now fully manage disputes in the Dashboard. You can view, accept, delete, and update disputes, as well as view, upload, and update dispute evidence.
Updates to dynamicDescriptor
Accounts must now be approved by Moov to use the dynamicDescriptor field - an optional field to override the default card statement descriptor on a transfer. View our documentation for more details.
Changes to capability requirements
Capability requirements have updated to reflect financial institution exemptions and additional underwriting requirements.
Financial institution exemptions
US state and/or federally regulated financial institutions are exempt from beneficial ownership requirements. Our account onboarding process will conditionally require a financial institution to provide their primary regulator during signup, which will be communicated through capability requirements. Additionally, providing business representatives is not a requirement for these financial institutions.
Underwriting requirements
Additional fields have been added for account underwriting that detail fulfillment, return policies, and the type of volume expected by merchants. If you aren’t already, ensure you’re providing these fields. See the underwriting API for more details.
Moov.js version update and API docs
Moov.js version update
We identified a long-standing issue with Moov’s client-side JavaScript SDK, Moov.js. Due to a misconfiguration, it was possible for users to cache outdated versions of Moov.js in their local browsers and experience page-breaking 404 errors following the release of a new version of Moov.js. Users would then have to manually clear their local browser cache to resolve the issue.
We resolved this issue with the release of Moov.js v0.6.12 on May 14, 2024. If your website used Moov.js prior to that date, some of your users may have outdated versions of Moov.js stored in their browser cache.
If your codebase used Moov.js prior to May 14, 2024, please review your codebase for the url https://js.moov.io/v1, and update the url to https://js.moov.io/v1?min=v0.6.12.
Cards endpoints documentation
Our API docs now reflect previously undocumented fields already present in our cards endpoints.
In the update a card PATCHendpoint documentation, we now include the merchantAccountID as an optional field in the request body.
We also now document the following fields returned in 200 responses for the link a card POSTendpoint as well as the update a card PATCHendpoint:
issuerPhone
issuerURL
cardCategory
Optional Visa name verification field
Visa name verification field
For Visa cards, we support Visa’s Account Name Inquiry (ANI) for enhanced cardholder verification. ANI is an optional tool that ensures the name provided on the linked card matches the name held on file with the issuer. There is a new optional verifyName field in the link a cardPOST and update cardPATCH endpoints for requesting this name verification.
Results of the verification request are returned in the cardVerification.accountName as shown in the sample response object below:
We’ve made a variety of small improvements to the accounts section of the Dashboard. Keep reading for more details on what’s changed.
Peek preview for accounts lists
We’ve added peek preview functionality to the accounts list view in the Dashboard. Press the space key to toggle the preview on and off. You can move your cursor up and down the accounts list and the preview will update with the corresponding account information. The esc key will also dismiss the preview.
Capability requirements
We removed verification status and replaced the status with an indicator that reflects if any capabilities have requirements pending for a particular account. Read our Dashboard accounts guide for more details.
Filter accounts by capability & capability status
You can now filter accounts by capability or capability status, allowing you to quickly surface specific account lists by capability-specific criteria.
Data sync, test mode updates, & more
Data sync
Data sync is a new no-code feature that sends your Moov account data to Google BigQuery, allowing you to access your payment data with tools you use to run your business, like Looker and Tableau.
Test mode updates
Winning and losing disputes: You can now simulate winning or losing disputes by entering the text evidence specified in the test mode guide.
RTP failures: We also added the ability to simulate various failure scenarios with RTP in test mode. See the test mode guide for the list of failure cases.
ACH micro-deposit return code update
An R29 return code for ACH micro-deposits will now result in the bank account status verificationFailed and you will need to re-verify the account. See our documentation on ACH return codes for more information. Note that some return codes will result in a different status for ACH micro-deposits and ACH transfers.
Disputes response endpoint and more
Disputes updates
When a merchant receives a dispute, they can now accept or challenge the dispute through the disputes response endpoint in the API. We’ve also added a new dispute.updatedwebhook that will generate if there is a change to a dispute’s status or phase .
We resolved an issue in the Dashboard where business address details weren’t carried over from the autofill form field to the manual address entry fields.
Reminder: API field updates
This is a final reminder to review your app to determine if you’re still using the deprecated fields listed below, or if the new in-review capability status will negatively impact your system. Read more for context below.
A few weeks ago, we announced new deprecated fields:
We also announced the in-review capability status, which communicates when Moov is manually reviewing account details to enable a capability — you don’t need to take any further action. The existing pending status will notify you if further action is needed, for example, providing any missing capability requirements.