# Set up a Special Purpose Vehicle

Configure a Special Purpose Vehicle connected account to segregate repayment funds from your platform balance.

A Special Purpose Vehicle (SPV) is a connected account that some platforms use to receive consumer repayment funds separately from their platform balance. After it’s configured, the SPV account has restrictions that prevent the platform from debiting funds back into the platform account, and from changing the SPV’s payout bank account without two-party approval.

This is a one-time setup. Complete the platform steps first, then share an onboarding link with your lender or SPV owner to complete their portion.

## Configure platform settings

1. In the Stripe Dashboard, go to **Settings** > **Connect** > **Payouts**.
2. Set **Require at least one bank account?** to **Yes**.
3. Set **Allow debit cards?** to **No**.
4. Enable **Collect external account information for accounts where the platform is responsible for collecting requirements**.

## Create the SPV connected account

1. In the left navigation, click **Connect**, then click **Connected Accounts**.
2. Click **+ Create**.
3. Fill in the account properties with the following settings:
   - **Dashboard access**: Stripe
   - **Business type**: Company
   - **Capabilities**: Card payments and Transfers
4. Click **Copy link** to copy the hosted onboarding link, then send it to your lender or SPV owner.

## Complete SPV owner onboarding

The lender or SPV owner completes the following steps using the onboarding link you sent:

1. Complete all actions in the Dashboard labeled `Past due`.
2. Configure the SPV payout bank account, if not already done during hosted onboarding.

> You can’t change the bank after you notify Stripe in the next step.

1. Send the SPV connected account ID (beginning with `acct_`) to your Stripe ProServ consultant. Stripe confirms that the account is configured to prevent the platform from debiting funds from the SPV back into the platform account.

## Configure two-party approvals

Optionally, you or your lender can require two-party approval for any changes to the SPV’s external bank account. Contact your Stripe ProServ consultant to enable this feature, then configure approval rules in **Dashboard Settings** > **Approvals**.

## Configure billing

Email your Stripe account representative to enable Bill Another Account (BAA), which allows Stripe to bill interchange fees to the SPV account on behalf of your platform. Use the following template:

```
Hi Stripe team,

Sending the following information for an exemption from re-opening MSA
contracting around billing:

(1) Intention to bill fees to a separate account:
    We [Platform Name, Inc] agree that Stripe Inc can bill our
    [Platform Name] SPV account on revenue interchange fees on behalf
    of our platform [Name of Platform, Inc].

(2) Products to include: Issuing Interchange Fee

(3) Accounts and country/legal entity:
    Legal name: [Platform Name] SPV (US based)
    Account ID: [SPV connected account ID]
```

## Configure repayment APIs

By default, the [Credit Repayments](https://docs.stripe.com/issuing/consumer-issuing/integrate.md#create-a-one-off-repayment) and [Credit Repayment Schedules](https://docs.stripe.com/issuing/consumer-issuing/integrate.md#schedule-recurring-repayments) APIs direct received funds into your platform’s Issuing balance. To direct funds into the SPV connected account’s payments balance instead, you must explicitly supply destination parameters on every repayment and repayment schedule you create. See [Collect repayments](https://docs.stripe.com/issuing/consumer-issuing/integrate.md#collect-repayments) for the full API details.