Deposit Hub

Deposit Hub from Synapse is a platform that allows you to open a wide breadth of deposit accounts for individuals or businesses with the ease an API call.
Deposit Hub powers neobanks, full-featured consumer budgeting apps, payroll platforms, and more.

With Deposit Hub you can customize unique products and bring them to market in weeks, not months.

Use Case

Open a wallet that enables your customers to store funds and use our full stack payment features to enable access to funds.

Use Case

Use our deposit and payments stack to create fully white-labeled payment processing solutions that include merchant processing accounts for your customers.

Use Case

Create interest bearing savings accounts to enable healthier financial habits for your customers.

Use Case

Open deposit accounts, issue card and account numbers to create a neo banking platform for your customers.

Use Case

Open a custody account, issue a card, use instant auth to fund the card at the time of transaction.

Benefits

Speed to Market

With Synapse, you get a modern Core and Risk platform all packed in easy-to-use APIs, enabling you to go to market in 6-8 weeks.

Feature Rich

Synapse provides a rich stack that enables you to provide a full stack of payment instruments (ACH, Checks, Wires, Bill Pay, Card Processing), an easy-to-use KYC Suite, Built-in multiple bank partnerships, and much more.

Easy to Use

Our public RESTful APIs and SDKs make it easy for you to deploy customized financial products in minutes, not weeks, or months.

White-Labeled

Use our APIs and SDKs to access all of the features and capabilities so your brand is highly differentiated.

Bank Portable

We have multiple bank partnerships built into the platform so you’re never reliant on just one bank partner as you scale.

Revenue Driver

Drive revenue via APY and/or card usage (interchange) from day one of going live.

All-in-One Customizable Solution

Use our built-in KYC and Customer Support features, or bring your own. We’ve built a platform that allows you to get to market quickly with a wide breadth of functionality. You choose what you want to own and what you want us to do for you.

Deposit Hub Account Types

Interest Carrying Deposit Account

A bank account that carries interest. This account is ideal for creating a debit card product.

FBO Sub Account

A Sub Account issued to the end user inside your FBO Account. This account is ideal for creating a low KYC automated savings product.

Custody Account

An alternative to the deposit account, where the account is held under a trust vs a bank allowing a lower KYC wallet solution. Ideal for creating Fiat Wallet products.

Clearing Account

Non-FDIC insured account created for payment processing purposes. Ideal for creating merchant processing or payment processing solutions.

Key Features of Deposit Hub

ACH

Process same day or next day ACH transactions in and out of accounts for easy bank to bank transfers.

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Domestic Wires

Send same-day wires to any US-based account.

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International Transfers

Send next-day transfers to non-US accounts to pay friends, family, or vendors.

Card Processing

Instantly fund accounts with any debit, prepaid, or credit card. Instantly cash out into any debit or prepaid card for faster access to cash.

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AC/RT Issuance

Issue unique account numbers on top of deposit accounts to enable ACH and Wire transactions in and out of the accounts for other platforms like Venmo, Lyft, PayPal, etc.

Card Issuance

Instantly issue card numbers on top of deposit accounts, then load them into any mobile wallet of choice and/or ship a physical card with various shipping and card styling options, including metal.

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Cash Access

Enable your customers to deposit or access cash in their deposit accounts via ATMs and popular convenience stores like 7-Eleven and Walgreens.

Bill Pay

Enable your customers to pay bills to thousands of vendors through our RPPS Integration.

Check Issuance

Issue checks out of the deposit account for traditional bill payments.

Learn More

Remote Deposit Capture

Deposit third-party checks into deposit accounts via our Remote Deposit Check feature.

Learn More

Multi-Bank

Keep deposits with multiple banks either to increase interest or FDIC coverage on customer deposits.

Interest for End-Users

Accrue interest daily on eligible deposit accounts.

Rebates for Platforms

Accrue daily rebates on deposits kept with us.

Early Payroll Access

Enable early pays by making the money available as soon as the payor notifies us of the intended deposit – which is often up to 2 days before most banks make the funds available.

Webhooks

Use our Webhooks infrastructure to stay up-to-date with any updates that happen to your user accounts.

Go live in 4-8 weeks

How it Works

Your Infrastructure
Integration Layer & Customer Digital Channels
Synapse Infrastructure
Core Banking
Payments Rails
Risk Infrastructure
Local Bank Infrastructure
Visa / Mastercard
Fed
ATMs / Cash Network
SWIFT

Creating a Deposit Hub is as simple as following these two steps:

POST /v3.1/users HTTP/1.1
Host: https://uat-api.synapsefi.com
X-SP-GATEWAY: client_id_xxx|client_secret_xxx
X-SP-USER-IP: ip_address
X-SP-USER: |fp_xxx
Content-Type: application/json

{
 
 "documents":[{
       "email":"test@test.com",
       
       "virtual_docs":[{
           "document_type":"TIN",
           
       }],
       "physical_docs":[{
           "document_type": "GOVT_ID",
           
       }],
       "social_docs":[{
           "document_type": "MAILING_ADDRESS",
           
       }]
   }]
}

curl --location --request POST 'https://uat-api.synapsefi.com/v3.1/users' \
--header 'X-SP-GATEWAY: client_id_2bb1e412edd311e6bd04e285d6015267|client_secret_6zZVr8biuqGkyo9IxMO5jY2QlSp0nmD4EBAgKcJW' \
--header 'X-SP-USER-IP: 255.127.79.76' \
--header 'X-SP-USER: |e83cf6ddcf778e37bfe3d48fc78a6502062fc' \
--header 'Content-Type: application/json' \
--data-raw ' {
 "logins": [
   {
     "email": "test@synapsepay.com",
     "password":"TestTest123$"
   }
 ],
 "phone_numbers": [
   "901.111.1111"
 ],
 "legal_names": [
   "Test User"
 ],
 "documents":[{
       "email":"test@test.com",
       "phone_number":"901.111.1111",
       "ip":"::1",
       "name":"Test User",
       "alias":"Test",
       "entity_type":"M",
       "entity_scope":"Arts & Entertainment",
       "day":2,
       "month":5,
       "year":1989,
       "address_street":"1 Market St.",
       "address_city":"SF",
       "address_subdivision":"CA",
       "address_postal_code":"94105",
       "address_country_code":"US",
       "virtual_docs":[{
           "document_value":"2222",
           "document_type":"TIN",
           "meta":{
               "country_code":"US"
           }
       }],
       "physical_docs":[{
           "document_value": "data:image/gif;base64,SUQs==",
           "document_type": "GOVT_ID",
           "meta":{
               "country_code":"US",
               "state_code":"CA"
           }
       },
       {
           "document_value": "data:image/gif;base64,SUQs==",
           "document_type": "GOVT_ID_BACK",
           "meta":{
               "country_code":"US",
               "state_code":"CA"
           }
       }],
       "social_docs":[{
           "document_value": "101 2nd St. STE 1500 SF CA US 94105",
           "document_type": "MAILING_ADDRESS",
           "meta":{
               "address_street":"101 2nd St STE 1500",
               "address_city":"SF",
               "address_subdivision":"CA",
               "address_postal_code":"94105",
               "address_country_code":"US",
               "address_care_of":"Some User"
           }
       }]
   }],
 "extra": {
   "supp_id": "122eddfgbeafrfvbbb",
   "cip_tag":1,
   "is_business": false
 }
}'

POST /v3.1/users/user_id/nodes HTTP/1.1
Host: uat-api.synapsefi.com
X-SP-USER-IP: ip_address
X-SP-USER: oauth_xxx|fp_xxx
Content-Type: application/json

{

 "type": "IC-DEPOSIT-US",
 "info": {
   "nickname":"My Interest Deposit Account",
   "document_id":"user_doc_id"
 }
}

curl --location --request POST 'https://uat-api.synapsefi.com/v3.1/users/5fd7acfd8677040053ad486d/nodes' \
--header 'X-SP-USER-IP: 255.127.79.76' \
--header 'X-SP-USER: oauth_WFecuSPqxGgU027IRAjtOf35vrNCpQZE1DYohX9y|e83cf6ddcf778e37bfe3d48fc78a6502062fc' \
--header 'Content-Type: application/json'
--data-raw '{
 "type": "DEPOSIT-US",
 "info": {
   "nickname":"My Deposit Account",
   "document_id":"2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8"
 }
}'

After that, you can choose to link ACH, Wire, Interchange and many more account types to fund the deposit account and/or issue cards and account numbers for a more holistic experience.

Deposit Pricing

SaaS Base Monthly Fee

$10,000 – $26,000

The exact monthly minimum is a function of the features enabled and overall business risk.

Per User

$0.99
per individual per month
$1.99
per business per month

Per user fees go down with scale.

Transaction Fees

Pass-Through

We will not charge any additional fees on top of the transaction fees we receive from the banks for your volume.

Deposit Revenue

Deposit Rebate

Up to 0.10% APY

We will provide up to 0.10% interest to your customers or up to 0.10% rebate to you on all deposits.

Interchange

Up to 90%

You will keep up to 90% of the net interchange revenue generated by your platform.

More Resources