💰 Deposit AUD (Creating Virtual Accounts)

To mint AUDD, you’ll first need to send Australian dollars (AUD) to the AUDD Mint. This process involves creating a Virtual Account (VA) to deposit funds to. Once cleared, your AUD is made available for Minting requests across supported blockchains.

🪄 Create a Virtual Account

Before you can deposit AUD into the Mint, you’ll need to have an active VA set up with a deposit bank account assigned. When creating the VA, you'll be requested to include the senders name as part of this process.

❗️
Name Matching:
The VA accountHolderName/accountHolderFirstname and accountHolderLastName you specify must match the account name sending the payment. If the names don’t align, the deposit will not clear. See our Transaction Monitoring guidance for more information.

To create the VA, use the POST /bank-accounts API endpoint and provide the required details in the request body:

Field	Type	Required	Description
`companyId`	string	✅	The ID of the company creating the bank account. Retrieved from `GET /company`
`bsb`	string	❌	The BSB (Bank State Branch) number for the VA generated.
`accountNumber`	string	❌	The account number for the VA generated.
`payId`	string	❌	coming soon will return blank
`nickname`	string	✅	A friendly label to identify the VA in the Mint (i.e: UUID assigned by your system).
`currency`	string	✅	The account currency. Currently only `AUD` is supported.
`type`	string	✅	Must be set to `DISTRIBUTOR` for distributor-linked accounts.
`subType`	string	✅	Specifies account purpose. Use `DEPOSIT` to create a VA for the purpose of receiving deposits.
`bankProviderType`	string	✅	The provider type for the bank account. Typically `BANKING_CIRCLE`.
`accountHolderName`	string	❌	Company name of the account holder
`accountHolderFirstname`	string	❌	First name of the account holder. Required if creating an account with bank provider type of `BANKING_CIRCLE`
`accountHolderLastname`	string	❌	Last name of the account holder. Required if creating an account with bank provider type of `BANKING_CIRCLE`
`addressLine1`	string	❌	The street address of the customer associated with the account e.g. 123 Example Street
`addressLine2`	string	❌	The City and Zipcode of the customer associated with the account e.g. Sydney 2000
`addressLine3`	string	❌	The country code of the underlying customer associated with the account e.g. AU

📘
Required Customer Detail Fields
The accountHolderFirstname, accountHolderLastname, addressLine1, addressLine2 and addressLine3 fields are required if creating a deposit account with a bank provider type of BANKING_CIRCLE. These fields are passed on to Banking Circle when creating the account as per these docs

📤 Example Request

{
    "companyId": "b8763ec9-3218-42f9-9baf-51706cff8bfd",
    "bsb": "",
    "accountNumber": "",
    "payId": "",
    "nickname": "UUID 846685458641",
    "currency": "AUD",
    "type": "DISTRIBUTOR",
    "subType": "DEPOSIT",
    "bankProviderType": "BANKING_CIRCLE",
    "accountHolderName": "KANGAROO PTY LTD",
    "accountHolderFirstname": "JOHN",
    "accountHolderLastname": "HOWARD",
		"addressLine1": "123 Example Street",
		"addressLine2": "Sydney 2000",
		"addressLine3": "AU
}

📥 Example Response

{
    "id": "virtual account id",
    "bsb": "252-000",
    "accountNumber": "123456789",
    "payId": null,
    "reference": "bank account reference",
    "company": {
        "id": "b8763ec9-3218-42f9-9baf-51706cff8bfd",
        "name": "company name",
        "types": null
    },
    "createdBy": {
        "id": "user id",
        "firstName": "first name",
        "lastName": "last name",
        "email": "email",
        "phone": "111222333"
    },
    "currency": "AUD",
    "type": "DISTRIBUTOR",
    "depositFee": {
        "amount": null,
        "percentage": null
    },
    "depositFeeResolved": {
        "amount": 0.01,
        "percentage": 0
    },
    "withdrawFee": {
        "amount": null,
        "percentage": null
    },
    "withdrawFeeResolved": {
        "amount": 0,
        "percentage": 0.01
    },
    "nickname": "UUID 846685458641",
    "subType": "DEPOSIT",
    "palmsManaged": false,
    "zeptoManaged": false,
    "bankingCircleManaged": true,
    "contactId": null,
    "balance": 0,
    "transactionHistories": [],
    "extCustomerId": "customer id",
    "linkedAccounts": [],
    "status": "ACTIVE",
    "sourceAccount": null,
    "accountHolderName": "KANGAROO PTY LTD",
    "accountHolderFirstname": "JOHN",
    "accountHolderLastname": "HOWARD",
    "metadata": {
        "creationDatetime": "timestamp"
    },
    "providerType": "BANKING_CIRCLE",
    "createdAt": "timestamp",
    "nameMatchingEnabled": null,
    "autoMintEnabled": false,
    "autoBurnEnabled": null,
    "referenceCheckingEnabled": null,
    "nameMatchingEnabledResolved": true,
    "referenceCheckingEnabledResolved": true
}

❗️
Save your Virtual Account ID:
The id response will be required in later functions - such as Minting AUDD. Keep this handy, as it may become difficult to find again if you have registered multiple VAs.

💸 Making a Deposit

In the staging environment, you can use the Mock Deposit Form to simulate AUD deposits. This lets you run through realistic deposit scenarios and confirm that your integration with the AUDD Mint works as expected before moving to production.

When you’re ready to go live, you’ll need a local AUD bank account to make real payments into your VA. Deposits made here follow the same validation process outlined earlier, ensuring funds are securely received.

📘
Fees & Charges:
Deposit amounts may be reduced by applicable fees, which are deducted automatically. For more information, refer to the Fees and Charges guide.