The subaccount APIs provide the ability to create, retrieve, and cancel subaccount deposits and withdrawals.

Netspend's Subaccounts

Netspend provides account holders with the ability to create accounts (primary accounts) and subaccounts. If the program is configured to support subaccounts, then the account holder can create subaccounts.

  • Subaccounts are subordinate to, and connected to the account holder’s primary account
  • Subaccounts are not connected to each other
  • Subaccounts must be personal accounts and not commercial or business accounts

Purpose of Subaccounts

Subaccounts enable the account holder to provide funds to be used by the subaccount holder. Account holders can create subaccounts for the following reasons:

  • For money management for caregivers
  • For money management for family members
  • For expense management

The primary account holder can perform the following activities:

  • Provide funds for the subaccount holder’s use
  • Monitor how the funds are spent
  • Place category restrictions on certain expenses based on merchant type

Who Creates the Subaccount

If the program offers the ability to create subaccounts, then the primary, secondary, or joint account holder can create subaccounts. The following conditions need to be met:

  • Account holder is KYC approved
  • Primary account is active
  • Physical Card has been ordered

Direction of Moving of Funds, Push or Pull

Subaccounts are configurable and support an account holder transferring funds in either direction:

  • Pull: Deposit to Subaccount. Account holders move funds from their primary account to deposit to their subaccount. This is the only method to put funds into a subaccount. Cash deposits or transfers from other accounts are not allowed.
  • Push: Withdrawal from Subaccount. Account holders withdraw funds from their subaccount and move the funds to their primary account.

Time Period to Complete Deposit to, or Withdrawal from Subaccount

The Account holder can move (transfer) available funds instantly:

  • From the primary account to deposit to the subaccount
  • To the primary account as a withdrawal from the subaccount

Fees to Perform Deposit to, or Withdrawal from Subaccount

Services fees are supported, and are configurable by Netspend.

Account Holder Agreement and Authorization

The terms are inherited from the primary account.