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A virtual account is a fiat account issued by a Lumx banking partner, in your customer’s name where available, to send and receive payments in a local currency. Each account is tied to one currency and supports every rail the partner bank offers for it. A USD account, for example, supports ACH, Fedwire, and SWIFT on the same account. Lumx orchestrates account provisioning and verification with banking partners that hold the funds and execute the underlying rails. Accounts carry their own verification status, independent from the customer’s. A customer can hold multiple accounts across different currencies. See Coverage for supported currencies and rails.
To convert every deposit that lands in an account to stablecoin automatically, set up an autoconversion rule instead of running a conversion per deposit.

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Named accounts

Where available, an account is issued in your customer’s name, not in Lumx’s name or in a pooled account. On a named account:
  • Receiving: the payer sends funds to bank details that identify your customer as the beneficiary.
  • Sending: the recipient’s bank statement shows your customer as the sender. See Sender of record for each rail.
This is what lets your platform pay and collect for its customers without nesting payments. See POBO and COBO.

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Create an account

Request the currencies in the accounts array when you create the customer, for example ["BRL", "USD"]. The field is required and takes at least one currency. Each currency creates one account. See Create a customer.

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Receive funds

GET /accounts returns each account’s id, status, and currency, but not its bank details. The deposit details come with what you create on the account:

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Lifecycle

An account is created together with its customer and waits for the customer’s verification before provisioning starts. The lifecycle has these statuses: The happy path is AWAITING_ONBOARDING → REQUESTED → PROVISIONING → ACTIVE. Provisioning can pause in RFI when more information is needed, and can end in REJECTED. An account moves to INACTIVE when it’s closed or when its customer becomes inactive.
If an account moves to RFI, you’ll be notified of the specific information needed. Provide the requested details to continue verification.
Subscribe to webhooks for real-time notifications when an account’s status changes.

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Activation timelines

The time an account takes to move from REQUESTED to ACTIVE once the customer is approved varies by currency, because Lumx has direct reliance with local banking partners in some markets but not others. Subscribe to the account.active webhook to know the moment an account is ready to receive funds.

Customers

The legal entity that owns the account.

Transactions

Move funds in and out of accounts.

Destinations

External payout targets for outbound fiat.

Coverage

Supported rails and currencies by country.