Reserved Accounts give each of your customers a dedicated virtual account number. Every transfer made to that account is automatically associated with the customer's profile on your platform.

Note for Engineering Teams: This feature can be created using the Monnify dashboard or API. This guide covers the dashboard setup. To integrate this feature using the API, refer to the Reserved Account Developer Documentation.

Perfect For These Business Models

Reserved accounts are best suited for platforms that require frequent top-ups or recurring billing:

1. Wallet-Based Businesses: Super agents, investment apps, and logistics platforms where users need to regularly fund their personal digital wallets.
2. Subscription-Based Businesses: Electricity distribution companies, Internet Service Providers (ISPs), or estate management platforms where a customer pays for the same service on a recurring basis.

Types of Reserved Accounts

Reserved Accounts can be classified into two:

1. Regular Reserved Accounts: These are permanent and always active. Customers can transfer funds into the account at any time to top up their wallet or clear an outstanding balance.
2. Invoice Reserved Accounts: These are strictly tied to invoices. The account number remains dormant (inactive) until you issue an invoice for the customer. The account is then able to receive the payment, then goes dormant once the invoice is cleared.

Note: For invoice reserved accounts, overpayments and underpayments are automatically reversed. To change this, configure your overpayment and underpayment settings. See Managing Overpayments and Underpayments.

How to Create a Reserved Account

To create a Reserved Account from your dashboard:

1. Log in to your Monnify Dashboard.
2. On the left-hand menu, click Reserved Accounts.
3. Click Create New in the top right corner.

4. Fill in the customer's details in the pop-up form (Name, BVN or NIN, Email, and so on.).

5. Click Create Reserved Account. The permanent account number will be generated instantly for you to share with your customer.

Advanced Features

Note: To automate the process at scale and utilize these advanced features, check the Reserved Account Documentation for the required endpoints and payloads .

Monnify gives you control over how these reserved accounts behave.

1. Automated Revenue Splitting: Automatically route a set percentage of every incoming payment into different sub-accounts (ideal for commission-based platforms).
2. Transaction Limits: Cap the daily volume (number of transactions), daily value (total amount), or maximum single transaction amount on any customer's account to manage risk.
3. Strict Payment Sources (Fraud Prevention): Block unauthorized third-party transfers. Restrict funding so that an account only accepts transfers from a sender whose bank account name or BVN matches the registered customer's details.