Transaction Splitting / Sub Accounts

Transaction splitting is a feature on Monnify that allows you to create subaccounts so payments could be split across different accounts. This simply means that for a single transaction, Monnify can help you share the amount paid between up to five different accounts.

This means you can specify what percentage of incoming payments should go into your default settlement account and what percentage of payments should also go into the sub-account you’ve created. You can create sub-accounts by integrating with the Monnify Create Sub-Account Endpoint

You can do the following to a sub-account once it has been created:

  1. Delete a Sub-Account Endpoint you no longer need
  2. Get the Sub-Accounts created
  3. Update the details of a Sub-Account.

Attaching Subaccounts to other payment API

To attach a subaccount to a payment request, simply append the incomeSplitConfig object to the request parameter as shown below;

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"incomeSplitConfig": [
"subAccountCode": {{SubaccountCode}},
"feePercentage": {{fee in percent}},
"splitPercentage": {{split in percent}},
"feeBearer": {{true or false}}

You can see sample usage example on the Reserved Account API section. .

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