What is a Deposit-Only Account?

A Deposit-Only Account is an account:

  • where funds can only be deposited
  • funds cannot be withdrawn or transferred by CashWise.
These accounts typically do not have necessary API controls or the API access is cost prohibitive.  

There are two types of Deposit-Only Accounts in CashWise.

  1. Deposit-Only Accounts using APIs (Aspire) These accounts enable automated account balance without human intervention.
  2. Deposit-Only Accounts using CashWise Assistant Chrome Extension (OCBC & DBS) These accounts can only be updated after a user with the Chrome Extension installed logs into their respective bank.

You can find more information about how the movement of money is different between Deposit-Only and Fully Automated accounts in the FAQ for CashWise Cash Movement Process.


Image: CashWise Robo-Treasury Use Case B:  Hybrid Automation AWX/Wise + Syfe + Xero + others



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