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Capabilities

Capabilities determine the actions an account can perform. We require different data and verification requirements depending on the capability and whether the Moov account is an individual or a business.

You must request a capability and Moov will perform the necessary verification checks (if any) and provide a status of enabled, pending, or disabled.

tip
You can request multiple capabilities at the same time. Depending on your use case, it may make sense to request all capabilities an account will need once you’ve created the account.

Transfers

If you’re adding a Moov account, chances are you want that account to be able to participate in transfers, like receiving a payment. If you request the transfers capability, Moov will automatically enable the capability once you provide the following information:

Individual Business
  • Legal name
  • Phone or email
  • Bank account
  • Legal name
  • Website or description
  • Bank account

Wallet

A wallet allows someone to store funds rather than transferring from one bank directly to another bank. To allow an account to have a wallet, request the wallet capability. This capability requires KYC or KYB verification.

Individual Business
  • Legal name
  • Phone or email
  • Address
  • Date of birth
  • Last 4 of SSN
  • Accept Terms of Service
  • Bank account
  • Legal name
  • Website or description
  • Business type
  • EIN
  • Address
  • Phone
  • Representatives
  • Accept Terms of Service
  • Bank account

Send funds

For an account to send funds to another account, it must have the send-funds capability enabled. This capability requires KYC or KYB verification.

Individual Business
  • Legal name
  • Phone or email
  • Address
  • Date of birth
  • Last 4 of SSN
  • Accept Terms of Service
  • Bank account
  • Legal name
  • Website or description
  • Business type
  • EIN
  • Address
  • Phone
  • Representatives
  • Accept Terms of Service
  • Bank account

Collect funds

For an account to collect a payment from another account, it must have the collect-funds capability enabled. This capability requires KYC or KYB verification.

Individual Business
  • Legal name
  • Phone or email
  • Address
  • Date of birth
  • Last 4 of SSN
  • Accept Terms of Service
  • Bank account
  • Legal name
  • Website or description
  • Business type
  • EIN
  • Address
  • Phone
  • Representatives
  • Accept Terms of Service
  • Bank account

IRS Form 1099-NEC

Requesting the receive-1099-nec capability signals that the Moov account is an independent contractor and that Moov should file an IRS Form 1099-NEC with the amounts transferred to this account. The data requirements correspond to the required fields in the 1099 filing process.

Individual Business
  • Legal name
  • Email
  • Address
  • Full SSN
n/a

IRS Form 1099-K

Requesting the receive-1099-k capability signals that Moov should file an IRS Form 1099-K with the amounts transferred to this account. The data requirements correspond to the required fields in the 1099 filing process.

Individual Business
n/a
  • Legal name
  • Business type
  • EIN
  • Address
  • Phone

For capabilities that require identity verification, you can use webhooks subscribe to updates on the account.

If you request a capability by mistake, you can disable it.