Capabilities
You must request a capability and Moov will perform the necessary verification checks (if any) and provide a status of enabled
, pending
, or disabled
.
If you request a capability by mistake, you can unrequest it.
You can request capabilities at the same time you create the account or request additional capabilities later.
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Transfers
The transfers
capability allows accounts to participate in transfers by receiving payments or being debited. In these instances, KYC verification is not required. The transfers
capability will automatically be requested and enabled as soon as each Moov account is created.
Transfers data requirements
Individual | Business |
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Wallet
A Moov wallet allows an account to store funds within the Moov platform. Accounts must have the wallet
capability enabled to use a Moov wallet. It can also be requested on its own. This capability requires KYC verification.
wallet
capability is automatically requested when send-funds
or collect-funds
is requested.
Wallet data requirements
Individual | Business |
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Send funds
For an account to send funds to another account, it must have the send-funds
capability enabled. This capability requires KYC verification.
Send funds data requirements
Individual | Business |
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Collect funds
For an account to collect, or pull, a payment from another account, it must have the collect-funds
capability enabled. In practice, the destination of a transfer must have the collect-funds
capability if the source of the transfer is using the card-payment
or ach-debit-collect
payment method. This capability requires KYC verification.
collect-funds
capability is only available for business accounts.
Collect funds data requirements
Business |
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Tax
Requesting the 1099
capability signals that Moov should file either a 1099-NEC or 1099-K tax form with the amounts transferred to this account. The data requirements correspond to the required fields in the 1099 filing process.
Tax data requirements
Individual | Business |
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For capabilities that require identity verification, you can use webhooks to subscribe to updates on the account.