Deposits to omnibus bank account

This use case involves end-users depositing funds to a single company bank account (omnibus bank account), using a user’s unique Rehive account reference to identify the transaction as belonging to the user. This approach is also referred to as an FBO or “for benefit of” structure. Feel free to test this flow on your test project in the Rehive Wallet apps.

Requirements

• The details of the bank account you wish to receive deposit funds into must be added in the Rehive Admin Dashboard>Settings>Bank accounts. The currencies you list for each bank account will determine which bank account information is displayed when a user selects “Deposit” for each currency in the Wallet apps.
• Monitoring of incoming deposits to the bank account will need to be implemented per requirements from your banking partner. This can be in the form of polling done by your extension, or webhooks triggered by your banking partner. In this guide we assume that the banking partner notifies your extension of a new transaction.
• The user must be on a Tier which allows deposit transactions. Tiers are configured per Group using the Rehive Admin Dashboard.

When the user selects “Deposit” from either their web or mobile wallet, they will be shown the information for the bank account listed above as well as a reference which the user must include in the reference field of their bank transfer. This reference is unique and indicates the account reference to which the funds should be credited in the Rehive system.

Steps:

1. The user selects “Deposit” and is shown details of the bank account you wish to receive deposit funds into and a unique reference.
2. The user makes a bank transfer to the company bank account provided and includes the unique reference in the reference field
3. Your custom extension polls the transaction history of the company bank account.
4. When a new transaction is detected, your custom extension creates a credit transaction on the Rehive Platform Admin API endpoint admin/transactions/credit/ with

{
    "status": "complete",
    "subtype": "deposit_bank",
    "account": "{unique_reference}"
}

Recommended additional configurations:

• Create and customize notifications using the Notifications Extension to ping users when a new deposit transaction is created. This is included in the flow above as the final step. The Rehive Expressions Guide is useful for creating notifications with specific trigger variables.