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Customer Accounts

What Is a RocketKOR Customer Account?

A Customer is an individual or business that you intend to conduct business with on the RocketKOR platform.

As a first step, you must create a Customer Account for the business or individual within one of your Child Business Accounts. You can create Customer Accounts using the RocketKOR APIs or Portal.

Customer Profile

When creating a Customer Account, a profile for the Customer is created with their name and contact information. The profile is the most basic level of information required to create the Customer. Certain types of Financial Accounts may require additional customer information that will be appended as additional details (enhanced PII details, identity documents, etc.).

The profile information will be different depending on whether the Customer is an individual or business.

  • Individual profiles include the person’s name, email, and phone number. Addresses (shipping, billing, mailing, and so on) are optional.
  • Business profiles include the company’s DBA (Doing Business As) name and the name, email, and phone number for the primary contact person at the company. Additional contact persons can also be added as well as addresses (shipping, billing, mailing, and so on).

Customer Financial Accounts

Before you can conduct transactions with a Customer, you must attach at least one Financial Account to their Customer Account.

A Financial Account contains the details required to identify and transact with that account. For example, suppose the Customer owns an external checking account at a third-party financial institution (such as a Chase Manhattan checking account). The RocketKOR Financial Account would include a name to identify the checking account in RocketKOR, the financial institution routing number, and the bank account number.

An unlimited number of Financial Accounts can be associated with a Customer.

You can create Customer Financial Accounts using the RocketKOR APIs or Portal. In addition, Rocket’s Capture feature and API can be used to securely capture details and create a Customer Account and/or Financial Account.

Customer Transactions

A Business Account can initiate a transaction with a Customer Financial Account using the RocketKOR APIs or Portal. The Business Account can:
  • Send funds to a Customer Financial Account. For example, the Business Account could perform a PushToCard or ACH Send transaction.
  • Request funds from a Customer Financial Account. For example, this could be done through an ACH Debit transaction. This requires a documented pre-authorized ACH debit arrangement with the Customer/Owner of the third-party bank account.

Customer Status

Customers are assigned a status in RocketKOR. A Business Account can only conduct transactions with Customers that have an Active status.

A Customer can have one of the following statuses:

  • Active  The Customer is active on the RocketKOR platform. You can conduct transactions with the Customer’s Financial Accounts.

  • Suspended  The Customer has been temporarily suspended. You cannot conduct transactions with any of the Customer’s Financial Accounts.

Note that alternatively you can suspend a specific Customer Financial Account; in this case, only transactions with that specific Financial Account would be suspended.