Company Wallet Setup

Onboarding your business and operating bank account with Sila

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To set up a company wallet

Sila will need to assist you. Here are the steps to help guide you through the process:

  1. Register a user (with real KYC data). Any individual from your team can volunteer to have their data registered.
  2. Be sure to give the user handle a descriptive name like “businessname_admin_wallet”.
  3. Request KYC on that user.
  4. Once the user passes, report the following Company Wallet Info to Sila's Support team:
  • Company Legal Name
  • PRODUCTION APP:
    • app_handle
    • user_handle
  • Wallet_id
    • Call our /get_wallets endpoint to get the wallet_id
  1. We will then change the entity type to "business" so you can proceed to the last steps. We’ll let you know when the entity type has been updated.
  2. With the entity change, you can now link your business bank account with Plaid or MX.
  3. The final step is to make sure the business name we add manually matches the name on your business bank account. For example: If your business account is titled for “Business Name, Inc.”, then we’ll go in and change the name of the user to “Business Name, Inc.”. This is to ensure the bank doesn't reject any of your transactions.

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SANDBOX "Company Wallet"

These instructions are intended for production. In the sandbox, create and use any wallet that you want as your company wallet.

Linking your account

Use Plaid or MX and our /link_account endpoint to link your bank account to your company wallet.

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Important Notice: Manual (direct) Account Linking

As of July 2022 manual (direct) account linking was no longer authorized for customers.

If you have had a direct relationship with an account linking provider and were authorized to pass Sila the account and routing number, prior to the Sila link_token being depreciated, you will now need to pass the Plaid processor token or MX authorization code in the /link_account request.
The method of passing Sila the account and routing number is no longer accepted.

Account linking must be completed by sending a Plaid processor token or MX authorization code in the /link_account request.

Updated 4 months ago