Counterparties
Counterparties represent the entity on the other side of any financial transaction created in the Victor Platform. The Counterparty Object includes nested Objects to contain the relevant bank account information required to complete both ACH and Wire transfers.
Counterparty Object Description
A Counterparty Object within the Victor Platform has the following fields:
| Field | Type | Description |
|---|---|---|
| id | String | Unique identifier of the Counterparty as stored in the Victor Platform |
| account_name | String | Name of the Counterparty |
| counterparty_id | String | ID of the Counterparty receiving the transfer. Counterparty object must contain ACH details |
| created_at | String | Timestamp of when the Counterparty was created |
| updated_at | String | Timestamp of the when the Counterparty was last updated |
| counterparty-ach-info | Object | ACH-related details of the Counterparty (see ACH Object description below) |
| counterparty-wire-info | Object | Wire-related details of the Counterparty (see Wire Object description below) |
| counterparty-rtp-info | Object | RTP-related details of the Counterparty (see RTP Object description below) |
| address | Object | Address of the Counterparty (This is required for Wire and IAT) |
ACH Object Description
As a nested Object under the Counterparty Object, the ACH Object has the following fields:
| Field | Type | Description |
|---|---|---|
| account_number | String | Account number of the Counterparty for sending ACH payments |
| account_type | String | Type of account, for example Savings or Checking |
| routing_number | String | Routing number of the financial institution where the ACH payment will be sent |
Supported ACH Transaction types may be found here.
Address Object Description
This is the Counterparty’s physical address. This is a mandatory field for both Wire and IAT payments:
| Field | Type | Description |
|---|---|---|
| street_address1 | String | Field 1 for the street address associated with the Counterparty |
| street_address2 | String | Field 2 for the street address associated with the Counterparty |
| city | String | City associated with the Counterparty |
| state | String | |
| zip_code | String | Zip code associated with the Counterparty |
Wire Object Description
As a nested Object under the Counterparty Object, the Wire Object has the following fields:
| Field | Type | Description |
|---|---|---|
| account_number | String | Account number of the Counterparty for sending Wire payments |
| routing_number | String | Routing number of the financial institution where the Wire payment will be sent |
| bank_name | String | Name of the financial institution associated with this wire account. |
| address | String | Wire details of the Counterparty's Wire information (see Address Object description above) |
Note That depending on your program sponsor bank’s policy the use of PO Boxes may be prohibited. If prohibited, it will not be possible to create a counterparty using a PO box address and the following error will be returned:
"error": [
"code": 400,
"message: "PO Boxes are not allowed due to the bank's KYC rules"
Bank Address Object Description
As a nested Object under the Counterparty Object, the Wire Object has an additional nested Object to represent an optional address associated with the Beneficiary Bank. The Bank Address Object has the following fields:
| Field | Type | Description |
|---|---|---|
| street_address1 | String | Field 1 for the street address of the Beneficiary Bank |
| street_address2 | String | Field 2 for the street address of the Beneficiary Bank |
| city | String | City of the Beneficiary Bank |
| state | String | State of the Beneficiary Bank |
| zip_code | String | Zip code of the Beneficiary Bank |
RTP Object Description
As a nested Object under the Counterparty Object, the RTP Object has the following fields:
| Field | Type | Description |
|---|---|---|
| account_number | String | Account number of the Counterparty for sending RTP payments |
| routing_number | String | Routing number of the financial institution where the RTP will be sent |