Funding Your Account

In this chapter, we will introduce one last prerequisite for transactions: funding the account we’ve just created with the custodian. We will look at two different methods of transferring funds – wire transfers and direct debit transfers. Wire transfers are the obvious and easy solution, but they rely on the investor leaving your site and initiating the transfer from their online bank. Generally, the ideal solution is always direct debit, which means the investor experience does not halt between onboarding and funding. The downside with direct debit is that it requires a country-specific integration with a payment gateway provider. We will use the Plaid API to build an example direct debit workflow for the US market that enables an investor to log into their own bank account and choose an amount to transfer to your Robo-advisor account.

By the end of the chapter, you will have gained the knowledge and skills required to implement an account funding...