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"Institutions" in Flash Payments
"Institutions" in Flash Payments
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Written by Support
Updated over 8 months ago

The “Instructing Institution” feature is an important enhancement to the Flash Payments ecosystem. This is an Australian govt (AUSTRAC) requirement. It increases transparency, compliance, and efficiency of financial transactions.

Understanding "Institutions"

Institutions, within the context of Flash Payments, refer to financial entities involved in the processing of transactions. Sometimes Flash Payments will ask our partners to submit the instructing institution info along with other data.
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The Importance of "Institutions"

When to Use Institutions?

Utilising the "Institutions" feature becomes essential in scenarios involving nested flows. Specifying institutions is required for all withdrawals and payments instructed by another financial institution.

How to Use Institutions?

Several ways:

  • Attaching institution data (as a JSON object or an ID of the existing institution) to withdrawals. See the instructingInstitution API field.

  • Attaching institution data (as a JSON object or an ID of the existing institution) to sub-clients. See the instructingInstitution API field.

Creating Institutions

Flash Payments offers several convenient methods to create an institution:

  • Via Flash Connect: separate tab for creating and managing institutions.

  • Via the API using the createInstitution mutation.

  • Automatically via API, if the instructingInstitution JSON object is submitted along with the createWithdrawal or createSubClient data. (Same institution won’t be created more than once.)

For more details on how to leverage the "Institutions" feature within your operations, please visit our developer portal or contact our support team for personalised guidance.

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