How to Setup Accounts

After getting set up to make authenticated requests against the Prime Trust API the next logical step is to create an account. Most resources in the PT API live under an account bar a few.

Note that webhook configurations (callback configurations) also live at an account and should be configured when creating an account to receive notifications on non real time processes.

There are multiple account types that can be opened via the Prime Trust API including custodial and IRA accounts.

All accounts have policies that dictate what the account can and cannot do. You should review your relevant account policy with your Sales Engineer as it can affect your integration.

A custodial account is the most basic account offered by a trust company that can hold assets and cash. To open a custodial account the owner of the account must clear Prime Trust's Know Your Customer (KYC) process. See KYC Requirements for more information on clearing KYC.

Steps to create an account for an individual

The individual must do the following:

  1. Agree to Prime Trust custodial agreement the authorized signature must match the name of the person on the account.
  2. Clear the Prime Trust KYC process. Agreement previews can be used to show the relevant agreement to the end user.

Request

POST v2/agreement-previews
{
"data" : {
"type" : "account",
"attributes" : {
"account-type" : "custodial",
"name" : "John Doe's Account",
"authorized-signature" : "John James Doe",
"owner" : {
"contact-type" : "natural_person",
"name" : "John James Doe",
"email" : "john@email.in",
"tax-id-number" : "123123123",
"tax-country" : "US",
"date-of-birth" : "1980-06-09",
"sex" : "male",
"primary-phone-number" : {
"country" : "US",
"number" : "1231231231",
"sms" : true
},
"primary-address" : {
"street-1" : "123 MK Road",
"street-2" : "Flat 3",
"postal-code" : "89145",
"city" : "Las Vegas",
"region" : "NV",
"country" : "US"
}
}
}
}
}

Response

{
"data": {
"type": "agreement-previews",
"id": "3d0b6445-dd88-4ac8-8d46-b9dfb092f0a1",
"attributes": {
"content": "(full agreement attached)"
},
"links": {
"self": "/v2/agreement-previews/3d0b6445-dd88-4ac8-8d46-b9dfb092f0a1"
}
},
"included": []
}

Upon creation the custodial agreement will be signed by the end user using the authorized-signature field. The PII of the owner must also be passed in on creation of the account.

Request

POST v2/accounts?include=latest-agreement,account-type,webhook-config
{
"data" : {
"type" : "account",
"attributes" : {
"account-type" : "custodial",
"name" : "John Doe's Account",
"authorized-signature" : "John James Doe",
"owner" : {
"contact-type" : "natural_person",
"name" : "John James Doe",
"email" : "johndoe@email.in",
"date-of-birth" : "1980-06-09",
"geolocation" : "(ISO 6709 format)",
"ip-address" : "(IPv4 decimal or IPv6 hexadecimal format)",
"sex" : "male",
"tax-id-number" : "123123123",
"tax-country" : "US",
"primary-phone-number" : {
"country" : "US",
"number" : "1231231231",
"sms" : true
},
"primary-address" : {
"street-1" : "123 MK Road",
"street-2" : "Flat 3",
"postal-code" : "89145",
"city" : "Las Vegas",
"region" : "NV",
"country" : "US"
}
}
}
}
}

Response

{
"data": {
"type": "accounts",
"id": "2053f64b-3631-4e64-a611-0bd09e687af6",
"attributes": {
"name": "John Doe's Account",
"number": "420081073166",
"created-at": "2019-12-03T06:53:28Z",
"disbursements-frozen": true,
"organization-label": "John James Doe",
"statements": true,
"status": "incomplete"
},
"links": {
"self": "/v2/accounts/2053f64b-3631-4e64-a611-0bd09e687af6"
},
"relationships": {
"account-asset-totals": {
"links": {
"related": "/v2/account-asset-totals?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-cash-totals": {
"links": {
"related": "/v2/account-cash-totals?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-questionnaire": {
"links": {
"related": "/v2/account-questionnaires?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-policy": {
"links": {
"related": "/v2/account-policies?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&one"
}
},
"account-aggregate-policy": {
"links": {
"related": "/v2/account-aggregate-policies?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&one"
}
},
"account-transfer-authorizations": {
"links": {
"related": "/v2/account-transfer-authorizations?to_account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"authorized-transfer-accounts": {
"links": {
"related": "/v2/accounts/2053f64b-3631-4e64-a611-0bd09e687af6/authorized-transfer-accounts"
}
},
"asset-transactions": {
"links": {
"related": "/v2/asset-transactions?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"asset-transfers": {
"links": {
"related": "/v2/asset-transfers?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"asset-transfer-methods": {
"links": {
"related": "/v2/asset-transfer-methods?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"cash-transactions": {
"links": {
"related": "/v2/cash-transactions?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"contact-funds-transfer-references": {
"links": {
"related": "/v2/contact-funds-transfer-references?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"contacts": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"latest-agreement": {
"data": {
"type": "agreements",
"id": "f1c88c00-15bb-4cb2-a7ed-61be2c1d9201"
}
},
"owners": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=owner"
}
},
"beneficiaries": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=beneficary"
}
},
"grantors": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=grantor"
}
},
"owners-and-grantors": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=owner,grantor"
}
},
"funds-transfers": {
"links": {
"related": "/v2/funds-transfers?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"organization": {
"data": null
},
"uploaded-documents": {
"links": {
"related": "/v2/uploaded-documents?accounts.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-type": {
"data": {
"type": "account-types",
"id": "custodial"
}
},
"webhook-config": {
"data": {
"type": "webhook-configs",
"id": "bda3e855-2f9f-42e0-b2e9-fa978c8de1da"
}
}
}
},
"included": [
{
"type": "agreements",
"id": "f1c88c00-15bb-4cb2-a7ed-61be2c1d9201",
"attributes": {
"content": "(full agreement)",
"file-url": null
},
"links": {
"self": "/v2/agreements/f1c88c00-15bb-4cb2-a7ed-61be2c1d9201"
},
"relationships": {
"electronic-signatures": {
"links": {
"related": "/v2/electronic-signatures?agreement.id=f1c88c00-15bb-4cb2-a7ed-61be2c1d9201"
}
},
"account": {
"links": {
"related": "/v2/accounts/f1c88c00-15bb-4cb2-a7ed-61be2c1d9201"
}
},
"uploaded-document": {
"links": {
"related": "/v2/uploaded-documents/f1c88c00-15bb-4cb2-a7ed-61be2c1d9201"
}
}
}
},
{
"type": "account-types",
"id": "custodial",
"attributes": {
"description": "Custodial accounts with no investment management.",
"label": "Custodial Account",
"manage-investments": false,
"owner-role": "owner",
"statement-roles": [
"owner"
],
"tax-form-recipient-role": "owner",
"trust": true
},
"links": {
"self": "/v2/account-types/custodial"
},
"relationships": {
"accounts": {
"links": {
"related": "/v2/accounts?account-type.id=custodial"
}
}
}
},
{
"type": "webhook-configs",
"id": "bda3e855-2f9f-42e0-b2e9-fa978c8de1da",
"attributes": {
"contact-email": "example@domain.com",
"created-at": "2019-12-03T06:53:28Z",
"enabled": true,
"failures": 0,
"shared-secret": "ECMx5rhvbnZ6hZAXCu18q5_b",
"updated-at": "2019-12-03T06:53:28Z",
"url": "http://www.example1.com"
},
"links": {
"self": "/v2/webhook-configs/bda3e855-2f9f-42e0-b2e9-fa978c8de1da"
},
"relationships": {
"account": {
"links": {
"related": "/v2/accounts/2053f64b-3631-4e64-a611-0bd09e687af6"
}
}
}
}
]
}

Steps to create an account for an entity

To open an account for a non natural person:

  1. Agree to custodial agreement. The authorized signature must match the name of one of the natural persons who has authority over the account who must be listed within the KYC process.

  2. The company/non natural person must pass Prime Trust's KYC process along with its ultimate beneficial owners, associated and authorized persons.

  3. Must fill out the account-questionnaire on account creation.

Agreement previews can be used to show the agreement to the end user. Answers to the account questionnaire can also be passed in on account creation.

Request

POST v2/accounts?include=account-questionnaire,account-type,webhook-config
{
"data" : {
"type" : "account",
"attributes" : {
"account-type" : "custodial",
"name" : "Big Blockchain Ltd Account",
"authorized-signature" : "Jill Jillian Johnson",
"owner" : {
"contact-type" : "company",
"name" : "Big Blockchain Ltd",
"email" : "support@bb.io",
"geolocation" : "(ISO 6709 format)",
"ip-address" : "(IPv4 decimal or IPv6 hexadecimal format)",
"tax-id-number" : "123123123",
"tax-country" : "US",
"region-of-formation" : "DW",
"primary-phone-number" : {
"country" : "US",
"number" : "7026912022",
"sms" : false
},
"primary-address" : {
"street-1" : "330 S. Rampart",
"street-2" : "Suite 260",
"postal-code" : "89145",
"city" : "Las Vegas",
"region" : "NV",
"country" : "US"
},
"related-contacts" : [
{
"contact-type" : "natural_person",
"name" : "Jill Johnson",
"email" : "jill@bb.io",
"geolocation" : "(ISO 6709 format)",
"ip-address" : "(IPv4 decimal or IPv6 hexadecimal format)",
"tax-id-number" : "123123123",
"tax-country" : "US",
"date-of-birth" : "1993-03-16",
"sex" : "female",
"label" : "CEO",
"primary-phone-number" : {
"country" : "US",
"number" : "7026912023",
"sms" : false
},
"primary-address" : {
"street-1" : "330 N. Rampart",
"street-2" : "Apt 270",
"postal-code" : "89145",
"city" : "Las Vegas",
"region" : "NV",
"country" : "US"
}
},
{
"contact-type" : "natural_person",
"name" : "James Johnson",
"email" : "james@bb.io",
"geolocation" : "(ISO 6709 format)",
"ip-address" : "(IPv4 decimal or IPv6 hexadecimal format)",
"tax-id-number" : "123123123",
"tax-country" : "US",
"date-of-birth" : "1993-03-16",
"sex" : "male",
"label" : "COO",
"primary-phone-number" : {
"country" : "US",
"number" : "7026912024",
"sms" : false
},
"primary-address" : {
"street-1" : "330 N. Rampart",
"street-2" : "Apt 280",
"postal-code" : "89145",
"city" : "Las Vegas",
"region" : "NV",
"country" : "US"
}
}
]
},
"webhook-config" : {
"contact-email": "example@domain.com",
"url": "http://www.example1.com",
"enabled": true
},
"account-questionnaire" : {
"nature-of-business-of-the-company" : "Digital Asset OTC Desk",
"purpose-of-account" : "Safe custody of cash and digital assets",
"source-of-assets-and-income" : "From digital asset trading",
"intended-use-of-account" : "To deposit and withdraw digital assets",
"anticipated-monthly-cash-volume" : "1,000,000 USD",
"anticipated-monthly-transactions-incoming" : "10 Transactions",
"anticipated-monthly-transactions-outgoing" : "10 Transactions",
"anticipated-types-of-assets" : "BTC, ETH, USD, EUR",
"anticipated-trading-patterns" : "Deposit and transfer BTC, Withdraw USD and EUR",
"associations-with-other-accounts" : "None"
}
}
}
}

Response

{
"data": {
"type": "accounts",
"id": "e95e3f98-2f61-4a10-b288-8cf9e624008c",
"attributes": {
"name": "Big Blockchain Ltd Account",
"number": "420058235283",
"created-at": "2019-12-03T07:08:56Z",
"disbursements-frozen": true,
"organization-label": "John James Doe",
"statements": true,
"status": "incomplete"
},
"links": {
"self": "/v2/accounts/e95e3f98-2f61-4a10-b288-8cf9e624008c"
},
"relationships": {
"account-asset-totals": {
"links": {
"related": "/v2/account-asset-totals?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"account-cash-totals": {
"links": {
"related": "/v2/account-cash-totals?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"account-questionnaire": {
"data": {
"type": "account-questionnaires",
"id": "ad1a15f8-3d51-4757-8406-fe3dd01de7a0"
}
},
"account-policy": {
"links": {
"related": "/v2/account-policies?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c&one"
}
},
"account-aggregate-policy": {
"links": {
"related": "/v2/account-aggregate-policies?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c&one"
}
},
"account-transfer-authorizations": {
"links": {
"related": "/v2/account-transfer-authorizations?to_account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"authorized-transfer-accounts": {
"links": {
"related": "/v2/accounts/e95e3f98-2f61-4a10-b288-8cf9e624008c/authorized-transfer-accounts"
}
},
"asset-transactions": {
"links": {
"related": "/v2/asset-transactions?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"asset-transfers": {
"links": {
"related": "/v2/asset-transfers?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"asset-transfer-methods": {
"links": {
"related": "/v2/asset-transfer-methods?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"cash-transactions": {
"links": {
"related": "/v2/cash-transactions?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"contact-funds-transfer-references": {
"links": {
"related": "/v2/contact-funds-transfer-references?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"contacts": {
"links": {
"related": "/v2/contacts?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"latest-agreement": {
"links": {
"related": "/v2/agreements/28d714ce-eaf9-4efe-9d5a-4524221894b4"
}
},
"owners": {
"links": {
"related": "/v2/contacts?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c&filter[account_roles in]=owner"
}
},
"beneficiaries": {
"links": {
"related": "/v2/contacts?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c&filter[account_roles in]=beneficary"
}
},
"grantors": {
"links": {
"related": "/v2/contacts?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c&filter[account_roles in]=grantor"
}
},
"owners-and-grantors": {
"links": {
"related": "/v2/contacts?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c&filter[account_roles in]=owner,grantor"
}
},
"funds-transfers": {
"links": {
"related": "/v2/funds-transfers?account.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"organization": {
"data": null
},
"uploaded-documents": {
"links": {
"related": "/v2/uploaded-documents?accounts.id=e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
},
"account-type": {
"data": {
"type": "account-types",
"id": "custodial"
}
},
"webhook-config": {
"data": {
"type": "webhook-configs",
"id": "1ca85e39-e8fe-4061-b51e-b91eefd570c5"
}
}
}
},
"included": [
{
"type": "account-questionnaires",
"id": "ad1a15f8-3d51-4757-8406-fe3dd01de7a0",
"attributes": {
"account-id": "e95e3f98-2f61-4a10-b288-8cf9e624008c",
"anticipated-monthly-cash-volume": "1,000,000 USD",
"anticipated-monthly-transactions-incoming": "10 Transactions",
"anticipated-monthly-transactions-outgoing": "10 Transactions",
"anticipated-trading-patterns": "Deposit and transfer BTC, Withdraw USD and EUR",
"anticipated-types-of-assets": "BTC, ETH, USD, EUR",
"associations-with-other-accounts": "None",
"created-at": "2019-12-03T07:08:56Z",
"intended-use-of-account": "To deposit and withdraw digital assets",
"nature-of-business-of-the-company": "Digital Asset OTC Desk",
"purpose-of-account": "Safe custody of cash and digital assets",
"source-of-assets-and-income": "From digital asset trading",
"updated-at": "2019-12-03T07:08:56Z"
},
"links": {
"self": "/v2/account-questionnaires/ad1a15f8-3d51-4757-8406-fe3dd01de7a0"
},
"relationships": {
"account": {
"links": {
"related": "/v2/accounts/e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
}
}
},
{
"type": "account-types",
"id": "custodial",
"attributes": {
"description": "Custodial accounts with no investment management.",
"label": "Custodial Account",
"manage-investments": false,
"owner-role": "owner",
"statement-roles": [
"owner"
],
"tax-form-recipient-role": "owner",
"trust": true
},
"links": {
"self": "/v2/account-types/custodial"
},
"relationships": {
"accounts": {
"links": {
"related": "/v2/accounts?account-type.id=custodial"
}
}
}
},
{
"type": "webhook-configs",
"id": "1ca85e39-e8fe-4061-b51e-b91eefd570c5",
"attributes": {
"contact-email": "example@domain.com",
"created-at": "2019-12-03T07:08:57Z",
"enabled": true,
"failures": 0,
"shared-secret": "J2J7BoQxQO11YvB9KmollBFM",
"updated-at": "2019-12-03T07:08:57Z",
"url": "http://www.example1.com"
},
"links": {
"self": "/v2/webhook-configs/1ca85e39-e8fe-4061-b51e-b91eefd570c5"
},
"relationships": {
"account": {
"links": {
"related": "/v2/accounts/e95e3f98-2f61-4a10-b288-8cf9e624008c"
}
}
}
}
]
}

Opening an account

After the account has been created and the owner contact's KYC has been approved, the account can be opened. The account can be opened in sandbox as follows.

Request

POST v2/accounts/{{account-id}}/sandbox/open

Response

{
"data": {
"type": "accounts",
"id": "2053f64b-3631-4e64-a611-0bd09e687af6",
"attributes": {
"name": "John Doe's Account",
"number": "420081073166",
"created-at": "2019-12-03T06:53:28Z",
"disbursements-frozen": false,
"organization-label": "John James Doe",
"statements": true,
"status": "opened"
},
"links": {
"self": "/v2/accounts/2053f64b-3631-4e64-a611-0bd09e687af6"
},
"relationships": {
"account-asset-totals": {
"links": {
"related": "/v2/account-asset-totals?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-cash-totals": {
"links": {
"related": "/v2/account-cash-totals?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-questionnaire": {
"links": {
"related": "/v2/account-questionnaires?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-policy": {
"links": {
"related": "/v2/account-policies?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&one"
}
},
"account-aggregate-policy": {
"links": {
"related": "/v2/account-aggregate-policies?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&one"
}
},
"account-transfer-authorizations": {
"links": {
"related": "/v2/account-transfer-authorizations?to_account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"authorized-transfer-accounts": {
"links": {
"related": "/v2/accounts/2053f64b-3631-4e64-a611-0bd09e687af6/authorized-transfer-accounts"
}
},
"asset-transactions": {
"links": {
"related": "/v2/asset-transactions?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"asset-transfers": {
"links": {
"related": "/v2/asset-transfers?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"asset-transfer-methods": {
"links": {
"related": "/v2/asset-transfer-methods?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"cash-transactions": {
"links": {
"related": "/v2/cash-transactions?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"contact-funds-transfer-references": {
"links": {
"related": "/v2/contact-funds-transfer-references?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"contacts": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"latest-agreement": {
"links": {
"related": "/v2/agreements/f1c88c00-15bb-4cb2-a7ed-61be2c1d9201"
}
},
"owners": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=owner"
}
},
"beneficiaries": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=beneficary"
}
},
"grantors": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=grantor"
}
},
"owners-and-grantors": {
"links": {
"related": "/v2/contacts?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&filter[account_roles in]=owner,grantor"
}
},
"funds-transfers": {
"links": {
"related": "/v2/funds-transfers?account.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"organization": {
"data": null
},
"uploaded-documents": {
"links": {
"related": "/v2/uploaded-documents?accounts.id=2053f64b-3631-4e64-a611-0bd09e687af6"
}
},
"account-type": {
"links": {
"related": "/v2/account-types/custodial"
}
},
"webhook-config": {
"links": {
"related": "/v2/webhook-configs?account.id=2053f64b-3631-4e64-a611-0bd09e687af6&one"
}
}
}
},
"included": []
}

Once the account has been opened a countersigned agreement can be retrieved via agreements and electronic signatures via electronic signatures. A non countersigned agreement can be retrieved prior to account opening.

Once an account has been created funds and assets can be deposited into the account. Note that the account does not have been opened yet for funds or assets to be deposited but must be opened for them to be transferred out of the account unless the funds are being refunded.

See also

  • Agreement-Previews
  • Accounts
  • Account-Questionnaires
  • Agreements
  • Electronic Signatures
  • Account Policies
  • Account Aggregate Policies
  • Webhook Configs
  • Webhooks
  • Sandbox
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