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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 their account represents 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.

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

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 sending or receiving a payment. If you request the transfers capability, Moov will automatically enable the capability once you provide the following information:

A website is preferred for a business, but if the business doesn’t have one, you can provide a description of the business that is 10 characters or more.
Individual Business
  • Legal name
  • Phone or email
  • Legal name
  • Website or description

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 or KYB verification.

The wallet capability is automatically requested when send-funds or collect-funds is requested.

Wallet data requirements

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

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.

Send funds data requirements

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

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-paymentor ach-debit-collect payment method. This capability requires KYC or KYB verification.

Collect funds data requirements

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

IRS Form 1099-NEC

Requesting the receive-1099-nec capability signals that the Moov account is an independent contractor, freelancer, or sole proprietor, 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.

1099-NEC data requirements

Individual Business
  • Legal name
  • Email Address
  • Full SSN
  • Legal name
  • Business type
  • EIN
  • Address
  • Phone

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.

1099-K data requirements

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

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

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