Microdeposit Accounts

Note: Our free self-service API does not include microdeposits. Contact us if you’d like to learn more about microdeposit accounts.

Manual deposits are required when you want to verify information for an account that is not connected to Quovo. For example, if Quovo doesn’t cover an institution, your users will not be able to connect and sync their accounts. Microdeposit accounts help keep your users active in the authentication flow. You can access more granular detail about the /microdeposit_accounts endpoint in our API Reference docs.

Creating a Microdeposit Account

Unlike other Quovo workflows, Microdeposit accounts have no live connections on Quovo. You will need to create a placeholder account to send the deposits to. Send a POST request to https://api.quovo.com/v3/users/{user_id}/microdeposit_accounts to create the placeholder account.

curl -X POST \
	-H "Authorization: Bearer a724809d37d0a21b7e9257f45cee416f5aec61993ab4b09e" \
	"https://api.quovo.com/v3/users/1760131/microdeposit_accounts"

Note that since this is not a live connection, it will not be associated with an actual institution. Instead, the manual auth connection is associated with the “Microdeposit Accounts” institution (which has an institution_id of 22134). Similarly, the account generated is not a real account and will not return data from endpoints like /holdings or /transactions. These are just containers to house the account information needed to request, send and verify a deposit. You are unable to sync the associated with the manual deposit.

Initiating Microdeposits

After creating the container account , the next step is to initiate the deposits . To do this, make a POST request to https://api.quovo.com/v3/accounts/{account_id}/auth_deposits. In this request, you’ll need to include a name , which is a valid account number, and a valid routing number.

curl -X POST \
    -H "Authorization: Bearer a724809d37d0a21b7e9257f45cee416f5aec61993ab4b09e" \
    -H "Content-Type: application/json" \
    -d '{"account_number": "569339485397", "routing": "306061549"}' \
	"https://api.quovo.com/v3/accounts/12345678/auth_deposits"

After you initiate the deposit, the end user must manually return and verify the deposit amounts. Remember that it may take 3-4 business days for the deposits to appear in the target bank account, so be sure clearly communicate to your end users that they need to regularly check their accounts during that period. You can also wait to message the end user until after the deposit status has been updated to “transferred”. This better ensures the micro-deposit is currently visible in the target bank account when you notify the end user.

When an end user sees the deposits in their account, they should return to verify the correct deposit value. To initiate manual verification, send a POST request to https://api.quovo.com/v3/auth_deposits/{auth_deposit_id} with the deposit amounts. In the request body, pass an array containing the two deposit amounts . The order of the amounts does not matter. You must enter them as decimals (e.g., .02, .05).

 curl -X POST \
    -H "Authorization: Bearer a724809d37d0a21b7e9257f45cee416f5aec61993ab4b09e" \
    -H "Content-Type: application/json" \
    -d '{ "amounts": [0.01, 0.02] }' \
    "https://api.quovo.com/v3/auth_deposits/52121"

If the values are correct for the two microdeposits, the deposit status will go to ‘verified.’ If the values are incorrect, the API will return a 400 error. After two incorrect manual verification attempts, the account will be frozen and the status will change to ‘verification_failed.’

Once a microdeposit account is verified, you can retrieve the auth information of the account, such as its account number and routing number, via the /auth endpoint. Make a GET request to https://api.quovo.com/v3/accounts/{account_id}/auth, passing through the valid account_id that was generated earlier in this process. In that response, you will see the account number and routing number that were successfully used for the manual microdeposit.

Using Connect for Microdeposit Accounts

Microdeposit accounts are supported through Quovo Connect, our javascript widget to help users sync accounts and connections. Parameters for enabling auth deposit workflows can be found in the Quovo Connect documentation.

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