Create Deposit

📘

Creating Deposits for IRA

Below is a set of guidelines for creating and understanding the nuances of deposits for IRAs.

When making a deposit into an IRA Account Ownership Type, you must define the type of contribution.

IRA Deposit Rules

  1. ”PRIOR_YEAR” deposits can only happen between Jan 1 - Apr 12 11:59PM.
  2. "ROLLOVER" mandatory display - "By selecting Rollover, I irrevocably designate this contribution as a rollover"

🚧

Recurring Deposits

DriveWealth offers Recurring Deposits through our Bank Account API.

Results Explained

Attribute

Type

Description

id

string

deposit identifier

status

array

Array of deposit status objects

status.id

string

number of message

status.message

string

name of the status.id enum

status.updated

string

date and time of last deposit status update

created

string

date and time of deposit creation

24/7 Cash Rewards

📘

24/7 Cash Rewards

See our Guide for more information

Use the existing deposit endpoint and enter PROMOTION for type.
By selecting the PROMOTION type, the partner can instantly give the customer buying power at all times of the day, and have funds sweep from their CASH_PROMOTION_ACCOUNT account within the money movement window.
Buying power is increased instantly, and cash balance is only increased during money movement window.

Language