Businesses

Description of the Bond Business resource and it's relationship to other resources.

The business resource represents a company that has signed up for an account with a card program offered by your brand.

You can create and manage business instances using the business API.

When you create a new business object, the company's official details are required body parameters for the request. The response returns a unique identifier for the new business instance, business_id.

A business must have at least one Beneficial Owner who is the owner/stakeholder in the company.

The business must be submitted to the KYBKYB - Know Your Business. The compliance that financial institutions put into their policies and procedures to verify the identity of the company they plan to have a business relationship with. process to verify that the business details are correct and which checks that all the details are accurate and valid. Before the company can be issued a card, all Beneficial Owners must also undergo KYCKYC - Know Your Customer. The compliance that financial institutions put into their policies and procedures to verify a customer's identity. for the business to achieve full verification.

The following chart shows the interactions between the business resource and other Bond studio objects and processes:

Business verification (KYB)

To comply with financial services regulations, you must initiate a KYB to verify the information that the company supplied. For a complete specification and interactive examples, see KYB in the Bond API Reference.

Beneficial Owners

You must add at least one Beneficial Owner to a business and every Beneficial Owner must undergo the KYC to verify their information. For a complete specification and interactive examples, see KYC in the Bond API Reference.

Issue a card to a business

You can issue a business card and create a card account for a verified business by making a request to the /cards endpoint. The business_id and program_id are required parameters. The program_id identifier represents the card program offered to customers by your brand in partnership with a bank. For a complete specification and interactive examples, see Creating a business card in the Bond API Reference.

You can also issue supplementary cards which are cards that are attached to a regular business card. The sum of the credit limits of all supplementary cards of a business card can't exceed the credit limit of the main card. For a complete specification and interactive examples, see Creating a supplementary card in the Bond API Reference.

Link a card account to an external bank account

To comply with financial regulations, Bond verifies the external bank account and creates a unique external_account_id identifier for each validated external account.

You can link an external bank account with a business' card account. The business can then transfer funds back and forth between the card and the external bank account. For a complete specification and interactive examples, see Linking a card to an external account in the Bond API Reference.

View a businesses' transactions and account balances

To view transactions made by a business card, pass the account_id as a query parameter in a request to the transactions API. To view the balance held on a card by a business, pass the account_id as a query parameter in a request to the balances API.


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