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Accounts FAQs


What are the limits for accounts with different KYC states?
Depending on the KYC state of the account holder, limits are defined as per RBI Guidelines:
Rules and PPI Limits Minimun KYC Aadhar OTP KYC Aadhar Biometric and PAPER KYC
Send money(peer to peer) No Yes Yes
Receive money(peer to peer) Yes Yes Yes
Maximum balance ₹10,000 ₹100,000 ₹100,000
Expiry 1 year 1 year Not Applicable
Bank transfer No Yes Yes
Add money Yes Yes Yes
What is the maximum balance allowed across accounts?

The maximum balance allowed across accounts are:

  • Min KYC Users: Rs. 10000 across accounts

  • Aadhaar OTP KYC user: Rs. 1,00,000 balance across accounts

What are the various accounting types and their significance?

Accounting is classified into the following five accounting types:

  • Assets: Assets are items you own. They are the resources you expect to benefit from in the future. Depending on the nature of the business, many things can be classified as assets.

  • Liabilities: Liabilities are things that a business or owner owed to a non-owner (debt and business obligations).

  • Equity: Equity represents the value of the owner’s investment, including assets and liabilities. Equity accounts differ based on the type of company.

  • Revenues: Revenues represent the value of the goods or services provided.

  • Expenses: Expenses are the cost to the company that reflect the outflow of money.

Can a user create more than one account across different fintechs using the same phone number & Officially Valid Document (OVD)?

Yes. However, in case of different phone number or OVD number, the following usecases are possible:

Use-Case 1: A user uses the same phone number but 2 different OVD numbers to create 2 accounts in 2 different fintechs. In this case, the entry for that particular account holder will be expanded in the system by adding both the provided OVD numbers.

Use-Case 2: A user uses the same OVD number but 2 different phone numbers to try to create accounts in 2 different fintechs. In such a case, since suspicion over the authenticity of the user arises, an error message will be sent out to the user asking for a different phone number. If the user does not provide a different phone number, then an offline process involving the Ops team verifying the phone and OVD numbers will take place.

Can an account or Real Account Holder (RAH) be deactivated?

In Fusion, the following can be done:

  • Account ID can be blocked

  • RAH cannot be blocked by a fintech

Can an account be used for and account holder's end-to-end e-banking?
Yes, with certain restrictions it is possible.
Which currency is the Account Balance API response in?
All transactions in Fusion are denoted in Paise.
What is the difference between issue bundle and issue resource?
  • Issue bundle issues account and payment instrument.
  • Issue resource just issues another resource and maps it with an already created account.
Can we have multiple pan linked with same mobile number or vice versa?
No. you cannot link multiple pan with same mobile number or vice versa.
What is the difference between payment product, account product and resoucre product?
  • Resource product: It comprises of the form factor entities , right now we have Phone and card , UPI to be added soon. This can be issue while issuing resource and it issues all the entities which are used to create the Resource product.
  • Payment Product: Its created using the resource product ID and is unique for every VBO, used to issue payment instrument to users.
  • Account Product: This is internally created in system and same product IDs are used while creating bundles of various types, Min KYC with PAN, Min KYC without PAN etc , for each of these product IDs are different and while issuing bundles to users, respective product ID gets mapped. Get Bundle API gives the details of account and paymnet products and same could be used while issuing account and payment products to the users respectively.
What are different vectors while creating an account?
phone number or email.
On which vector LAH is linked to a VBO?
phone number or email.
Can a coporate have multiple LAH's?
Ideally no, as we create LAH basis the company provided phone number and address details, hence LAH can be only one.
How many Vectors can be added to an account?
Vectors are added to account holders, not accounts.
Can a Vector be deleted or disabled?
Not via APIs exposed for Fusion.

Bundle

What are Artefacts, Products and Bundles?
Artefacts represent elements of customer interest that the bank is capable of provisioning and maintaining for the customer. Products are a commercial packaging of artefacts. Bundle is a collection of products which is issued to an end user of fintech. Fusion configures bundles as per the requirements of the fintech. See Resource types for more detailed information.
Who is issued a bundle and how is a bundle issued?
Bundles are issued to the account holders i.e end users of fintech. Bundles are issued via the issueBundle API.
How can I find out the product details that were created with the bundle issuance?
The response of the issueBundle call details the Account Products and the Payment Products issued.
What are form factor and form factor provider, and their different types?

Form factor is materialization of the resource. Holding a form factor allows the holder to access the resource and perform operations after authentication. A form factor provider manages the lifecycle of each form factor. Based on the form factor, certain operations may be allowed or disallowed. The different types of form factor are:

  • Phone Number

  • Card

Can I fetch the issued Payment Products for an Account Holder?

Yes, you can use the resourceByVector API to get the payment resources linked to an account holder:

/api/v1/ifi/{ifiID}/resourceByVector?vectorType=ACCOUNTHOLDER&vectorValue=AH_ID&view=BASIC.

The allowed vectorType is ACCOUNTHOLDER and vectorValue is AH_ID. You can also pass view as an optional field which can be of the following types:

  • BASIC: Returns active and inactive form factors

  • EXPANDED: Returns active, inactive, and deleted form factors

By default, view will be set to BASIC

What is a Bundle? Who configures it - the issuer or fintech?

A Bundle is a key offering from Issuer that comprises of:

  • Account Product: Prepaid accounts such as gifts, GPR cards, and so on

  • Payment Product: Physical or virtual cards supported by VISA, RuPay, and MasterCard networks

It is configured by the Fusion Implementation team when onboarding a Fintech on Fusion.

Can I create artefacts that were missed out during a prior requests for issuing bundles?

Yes. Following APIs are used for partial bundle issuance (artefacts):

  • Issuing Account Products - /api/v1/ifi/{ifiID}/bundles/{bundleID}/issueAccount

  • Issuing Resources - /api/v1/ifi/{ifiID}/bundles/{bundleID}/issueResource

  • Issuing Form Factors - /api/v1/ifi/{ifiID}/bundles/{bundleID}/issueFormFactor

Are the products always issued in bundles regardless of the number of products?
Yes. Custom-made accounts and payment products are grouped as a bundle and issued to the account holders. Even if there is a single product to be issued, it will be availed via the construct of a bundle. For example, a GPR bundle with a card on VISA network.