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A sub-account is a destination bank account in your pool. It is where a share of a split is paid. You add accounts to the pool once, and any number of services can then select them when you configure splits. Adding an account to the pool does not by itself send it any money. It only makes the account available. You manage all of this on the Accounts page, which you reach from Accounts in the sidebar. The page has two parts: the Primary Account section at the top, and your sub-accounts.

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What makes an account a sub-account

  • It is a Nigerian bank account, identified by a bank and a 10-digit account number.
  • Its account holder name comes from the bank. You do not type it and you cannot edit it. Vestrapay asks the bank when you add the account, so what you see is what the bank holds.
  • It can be used by any number of services. A sub-account used by a service cannot be deleted until it is removed from that service.
  • It is separate from your primary settlement account. The primary account comes from KYB, is shown in its own section, and cannot be a split participant.
You must complete the KYB settlement stage before you can add a sub-account. The unallocated remainder of every payment settles to your primary account, so it has to exist first. See Go live.

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Your primary account

The Primary Account section shows the account that receives everything your splits do not claim. Choose Update in that section to change it. A change is reviewed before it takes effect, and your current account stays in force until then. The full walkthrough is in Settlement account.

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Add a sub-account

1

Open Accounts

Choose Accounts in the sidebar.
2

Choose Add sub-account

Select Add sub-account. The Create sub-account dialog opens.
3

Enter the destination

Complete the form.Check the account holder name against the person or business you expect to receive the money. If it is not right, correct the account number or choose a different bank before you continue.
4

Confirm

Create the sub-account. It appears in your list and can now be selected when you configure splits.
Adding the same bank account twice is not allowed, because it is already in your pool. If the bank cannot be reached, or the account number does not resolve, try again in a moment and check the number.

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View a sub-account

Your sub-accounts are listed on the Accounts page with their bank, account number and account holder name. Open one to see its detail. Use it when you reconcile, to check which services pay the account and what has been allocated to it. For how allocations are grouped and paid out, see Settlements.

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Delete a sub-account

You cannot rename an account or change its bank details, because they come from the bank and changing them would mean a different account. To correct a mistake, add the right account, point your splits at it, and then delete the wrong one. To delete a sub-account:
  1. Open Accounts.
  2. Find the sub-account and choose to delete it.
  3. Confirm when the dashboard asks.
A sub-account that is associated with a service cannot be deleted. Open each service that uses it, replace the split that pays it with another sub-account (or remove that split), save, and then delete the account. See Splits.
There is no deactivate option in the dashboard. An account is either in your pool or it is not. A few details are worth knowing:
  • Deleting a sub-account removes it from your pool only. It does not close the bank account.
  • Money already recorded against the account stays in your history. Collections and settlements are never rewritten.
  • If an account that a payment was meant to credit cannot be credited at the moment the payment succeeds, that share is kept in your primary account instead, and verify reports the entry as FALLBACK. Review your splits whenever you change your pool. See Distribution.

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Sandbox and live

Services and splits are configured separately in each environment. Use real bank details only when you intend them to receive live money. In the sandbox, nothing is paid out.

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Permissions

Your team role needs read access to the Accounts area to see accounts, and full access to add or delete them or to update the primary account. If an action is unavailable, ask an owner on your team to adjust your role.

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Next

Once the pool is ready, configure splits to decide how much of a service each account receives.