Accounts represents a legal entity, and describe the account holder. An account can be created by an individual or a business, and can be linked to other Moov accounts.
A business representative is someone with financial ownership or significant control over a business entity. You’ll need to supply Moov with information about business representatives when creating an account for verification purposes.
Capabilities determine what each Moov account can do, such as receiving transfers, or sending money to others. For risk and fraud protection purposes, we require detailed information when requesting capabilities. For example, we’ll request more details if an account wants to collect funds than we would for an account receiving funds.
- Transfers: Authorize debit transfers
- Wallet: Store funds with Moov
- Send funds: Send funds to another account
- Collect funds (business accounts only): Collect funds from another account
The Moov Dashboard is an online portal that gives you the ability to create and manage Moov accounts and settings.
A facilitator fee is a way for you to monetize payment flows when creating a transfer.
A funding source is a bank account, payment card, or wallet that is linked to a Moov account.
Payment methods represent all the ways an account can move funds to another Moov account. The payment methods available for a given Moov account depend on the linked funding source and the capabilities of that account. For example, if your account doesn’t have a linked bank account, the only payment method available to you would be the Moov wallet. Once you’ve added a bank account or card and it’s verified, your account will automatically update with the new payment methods available to you.
Specify scopes to generate an authentication token to use with a specific set of Moov endpoints via Moov.js or any client-side integration. Some scopes are not restricted to a single account, while other scopes require an accountID before generating a token. You may need to generate multiple tokens depending on the task.
Our authentication flow follows the OAuth 2.0 standard.
Transfers are how money moves through our platform. You can transfer money from one Moov account to another, or your Moov wallet to your linked bank account. Every transfer has a source (where the money originates from) and a destination (where the money goes). To orchestrate a transfer, Moov needs just four pieces of information:
- Source payment method
- Destination payment method
- Brief description
To receive a list of all possible payment methods available for a transfer, provide the two accounts you’re moving money between, and the transfer amount.
A wallet stores funds and can be requested for every Moov account. With a wallet, you have more flexibility for when and how to move funds. You can achieve faster payouts with a wallet as a funding source. Additionally, you can:
- Transfer funds from one Moov wallet to a different Moov wallet
- Transfer funds out of your Moov wallet to your bank account
- Add money from your bank account to your Moov wallet
Visit the Moov dictionary for a comprehensive overview of industry terms.