Collection Accounts

Collection Accounts is a feature available only on the API that allows you to create disposable virtual bank accounts strictly used to collect payments from your customers.

When you create a Collection Account for a customer, any bank transfer to that account will be automatically recorded as transactions from that customer.

Unlike Fixed Accounts, this account is only valid for one successful transaction. You also do not have to do KYC verification on Collection Accounts. This is because they are not tied to customers.

Features & Benefits

  1. There is no limit on the number of Collection Accounts you can create.
  2. They are only valid for one transaction. For a new transaction, you’d have to create a new one.
  3. Collection Accounts are not tied to any customer. They are linked to the organization.
  4. Because they are not tied to any customer, customer KYC is not required to create a collection account.
  5. You can only create Collection Accounts via our API.
  6. Collection Accounts do not hold money. They are simply a means of accepting payments. All money received via a Collection Account is settled into the organization’s billable balance accessible on the Bloc dashboard.
  7. You cannot transfer out of a Collection Account.

Pricing & Fees

  1. Every successful transaction attracts a flat fee of ₦40.00.
  2. No stamp duty is collected from payments received by a Collection Account.

How to Create a collection account

Call create collection account endpoint

To create a Collection Account, you need to call our Collection Account API endpoint.
  "success": true,
  "data": {
    "name": "bloc",
    "created_at": "2022-09-07T18:01:08.288388+01:00",
    "account_number": "2087096135",
    "bank_name": "Banc Corp"
  "message": "account created"

Account naming

When the customer attempts to make a transfer to the created account number, the account name will be in one of the following formats:

  1. Zenith Bank - Organization Name
  2. Banc Corp MFB - Organization Name


Testing Collection Accounts

You can test Collection Accounts using your test API credentials. You can confirm that it works by simulating a bank transfer using our Simulation API.