# How Financial Accounts for platforms works Learn about connected accounts, financial accounts for platforms and moving money. [Financial Accounts for platforms](https://stripe.com/treasury) is a suite of APIs for Stripe *Connect* (Connect is Stripe's solution for multi-party businesses, such as marketplace or software platforms, to route payments between sellers, customers, and other recipients) platforms that allows you to embed financial services in your product. Stripe provides the infrastructure in partnership with trusted banks. You can use Financial Accounts for platforms to enable your connected accounts to hold funds, pay bills, earn cash back and manage their cash flow. ## Modular components for financial services Financial Accounts for platforms provides modular components for building a full-featured, scalable financial product. #### Create accounts Set up your connected accounts as Financial Accounts for platforms customers, verify their identity and provision financial accounts with one of our bank partners. - [Stripe-hosted](https://docs.stripe.com/connect/hosted-onboarding.md), [embedded](https://docs.stripe.com/connect/embedded-onboarding.md), and [API](https://docs.stripe.com/connect/api-onboarding.md) onboarding - ID verification - *KYC* (Know your customer (KYC) regulations require that professionals and businesses make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fall under the broader scope of anti-money laundering (AML) policy) checks - Sanctions screening #### Store funds Enable your connected accounts to store and access funds in their financial accounts. - *FDIC* (Federal Deposit Insurance Corporation (FDIC) is an independent agency created by Congress to insure deposits, regulate financial institutions, make large and complex financial institutions resolvable, and manage receiverships) insurance-eligible - Account and routing numbers - Able to earn cash back - Track available balances - Multiple financial accounts per connected account - [Embedded balance component](https://docs.stripe.com/connect/supported-embedded-components/financial-account.md) #### Move money Enable different ways to move funds in and out of accounts. - *ACH* (Automated Clearing House (ACH) is a US financial network used for electronic payments and money transfers that doesn’t rely on paper checks, credit card networks, wire transfers, or cash) - Same-day ACH (Beta) - *Wire transfers* (Also called a bank transfer or credit transfer, wire transfers are a method of electronic funds transfers that move money from a payer to a payee) - Fast payments fund availability - Instant transfers between financial accounts - Mobile cheque acceptance (Beta) - Save payee account details for repeated transactions - Embedded [transaction list](https://docs.stripe.com/connect/supported-embedded-components/financial-account-transactions.md) and [regulatory receipt](https://docs.stripe.com/financial-accounts/connect/moving-money/regulatory-receipts.md) components #### Attach payment cards Issue custom payment cards to give connected accounts more ways to spend their funds. - Branded physical and virtual cards - Virtual card provisioning to digital wallets - Physical cards shipped in as few as 2 business days - Dynamic spend controls - Real-time authorisations - ATM funds access ## Financial Accounts for platforms use cases The following are examples of some common Financial Accounts for platforms use cases: | **Use case** | **Description** | | ------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Spend management** | Build a spend management product for your customers to store funds on your platform and manage spending with branded cards. | | **Store and spend account** | Create *FDIC* (Federal Deposit Insurance Corporation (FDIC) is an independent agency created by Congress to insure deposits, regulate financial institutions, make large and complex financial institutions resolvable, and manage receiverships) insurance-eligible accounts that allow businesses to store funds, earn cash back, accept cheques, and pay contractors and vendors with *ACH* (Automated Clearing House (ACH) is a US financial network used for electronic payments and money transfers that doesn’t rely on paper checks, credit card networks, wire transfers, or cash) and *wire transfers* (Also called a bank transfer or credit transfer, wire transfers are a method of electronic funds transfers that move money from a payer to a payee). | | **Programmatic money movement** | Facilitate money movement between your platform’s connected accounts and from connected accounts to third-party accounts. | ## Financial Accounts for platforms account architecture Using [Connect](https://docs.stripe.com/connect.md), you onboard customers to your platform as connected accounts. You can create a financial account for each connected account to access your financial products. The following diagram illustrates an overview of a platform with Financial Accounts for platforms integration. ![Diagram of a platform integrated with Financial Accounts for platforms, showing customers, platform, connected and financial accounts, external bank accounts, payment cards and money movement.](https://b.stripecdn.com/docs-statics-srv/assets/architecture.09c0591ec59be6852afa65afeca883a7.png) Financial Accounts for platforms architecture ### Connected accounts Connected accounts are sellers or service providers that use a platform. For example, if you’re a digital storefront platform owner, you provide an e-commerce framework that businesses use to establish online stores and collect payments. Each business that uses your storefront platform is a connected account. Financial Accounts for platforms only supports connected accounts that don’t use a Stripe-hosted dashboard and where your platform is responsible for requirements collection and loss liability, including Custom connected accounts. Learn how to [create connected accounts](https://docs.stripe.com/connect/interactive-platform-guide.md?connect-charge-type=direct&connect-loss-liability-owner=platform) that work with Financial Accounts for platforms. As a platform with connected accounts, you’re responsible for maintaining a minimum API version, communicating terms of service updates to your connected accounts, handling information requests from them and providing them with support. Because your platform is ultimately responsible for the losses your connected accounts incur, you’re also responsible for vetting them for fraud. To learn more, read the [Financial Accounts for platforms fraud guide](https://docs.stripe.com/financial-accounts/connect/examples/fraud-guide.md). ### Financial accounts You can use the Financial Accounts for platforms endpoints of the [Stripe API](https://docs.stripe.com/api/treasury/financial_accounts.md) to create financial accounts, and attach them to connected accounts in a one-to-one relationship (unless you’re enrolled in the [Multi Financial Account preview](https://docs.stripe.com/financial-accounts/connect/account-management/financial-accounts.md#create-a-financialaccount)). You can fund the financial accounts of your platform’s connected accounts and move money between them. Your connected accounts can also fund their financial accounts using a bank external to Stripe. If your platform uses Stripe Issuing, you can provide payment cards linked to the financial account balance of your connected accounts. Financial accounts have routing numbers because they’re backed by US banking partners, and balances are eligible for FDIC pass-through insurance. ## Sample integration Follow our two-part sample integration to see how Financial Accounts for platforms works: 1. [Set up Financial Accounts for platforms and create cards with Issuing](https://docs.stripe.com/financial-accounts/connect/examples/financial-accounts.md) 1. [Use Financial Accounts for platforms with SetupIntents and PaymentMethods to move money](https://docs.stripe.com/financial-accounts/connect/examples/moving-money.md) Financial Accounts for platforms is provided in the US by Stripe Payments Company, licensed money transmitter, with funds held at Stripe’s bank partners, Members FDIC. Card and other credit products are provided by Celtic Bank and serviced by Stripe, Inc. and its affiliate Stripe Servicing, Inc. ## See also - [Accounts structure](https://docs.stripe.com/financial-accounts/connect/account-management/accounts-structure.md) - [Working with connected accounts](https://docs.stripe.com/financial-accounts/connect/account-management/connected-accounts.md) - [Working with financial accounts](https://docs.stripe.com/financial-accounts/connect/account-management/financial-accounts.md)