To be able to withdraw cash from an end user's cash balance, a reference bank account must be registered with the Investment API.
This guide outlines how to register and manage reference bank accounts for an end user on the Investment API.
At least one reference account per end user or business entity is required for withdrawal. In order to delete an existing reference account, you must enable a new account before deleting the first.
A reference bank account is an account at a bank other than Upvest. This account serves as a destination for cash withdrawals from the end user’s available cash balance at their Upvest account.
Currently, we allow registering Euro SEPA (Single European Payments Area) bank accounts only, non-European bank accounts will follow soon. The reference account owner must match the end user or business entity on the Investment API.
We ask you as our clients to verify and validate the bank account details (for example, matching IBAN and BIC) before submitting them via the Investment API. To register, exchange or delete a reference bank account, we require our clients to apply any approved multi-factor authentication.