Local AUD Collections - Additional Data Requirements

To enable local AUD collections for companies, we require additional information beyond the standard minimum details captured at account creation.

This article outlines the mandatory data requirements for creating or updating sub-accounts for companies that want to use local AUD collections. For individuals, the only additional requirement is that they must be based in Australia.

Sub-account data

Sub-accounts can be created and updated using either the Currencycloud API or Currencycloud Direct. Instructions for creating a sub-account and contact via the API can be found here. 

For sub-accounts that want to enable local AUD collections, additional information must be provided in addition to the fields that are mandatory during the usual sub-account creation process.

API Endpoints

The relevant API endpoints are:

Create Account:   POST  /v2/accounts/create 
Update Account:  POST  /v2/accounts/update

Standard mandatory fields

When creating a sub-account, the following fields are currently mandatory on the platform, whether using the API or Currencycloud Direct:

• account_name
• legal_entity_type
• street
• city
• country

Additional requirements for local AUD collections

The additional data requirements for sub-accounts that want to enable local AUD collections are highlighted below.

Sub-account validation notes

For local AUD collections, additional fields should be treated as mandatory even where the API does not mark them mandatory, these are:

• industry type
• tax identification (Australian Business Number – ABN)
• country of incorporation
• trading address
• customer risk
• business website URL

Industry Type:

• numeric only
• exactly 4 digits
• must match the approved list provided below
• free-text values are not permitted
• if the correct code is not available, onboarding must pause and escalate

Date of Incorporation:

• must be provided if ACN is provided
• must match ASIC registration records
• format YYYY-MM-DD

ABN:

• numeric only
• 11 digits
• required for all company correspondent sub-accounts

ACN:

• numeric only
• exactly 9 digits
• required for registered company entities

Business website URL:

• must be valid
• maximum 255 characters
• placeholders or internal URLs must not be used

Trading Address must include:

• street
• city
• postcode
• state
• country

Trading address must pass screen validation, including any applicable character restrictions.

Customer Risk is determined by the client - Low, Medium or High.

Australian Financial Services Licence (AFSL) is taken from the house account if present.
 

Contact Data

Sub-accounts must have a contact attached to them to be able to conduct any activity.  Contacts can be created or updated via the API or Currencycloud Direct.

API Endpoints:

Create Contact:   POST /v2/contacts/create 
Update Contact:  POST /v2/contacts/{id}

The following fields are currently mandatory for a contact: 

• account_id
• first_name
• last_name
• email_address
• phone_number

There are additional data requirements for contacts of sub-accounts that want to enable local AUD collections.  These are highlighted below.

Contact business rules

• The Contact must be created after the sub-account.
• The Contact creation request must include account_id so the Contact is attached to the correct sub-account.
• All API-mandatory contact fields must be populated before the request is submitted.
• If the sub-account identifier is missing, contact creation will not proceed.
• Additional contact attributes may be supplied where required by business rules or implementation needs, including login_id, status, locale, timezone, and date_of_birth.

Contact validation notes

For local AUD collections, additional fields should be treated as mandatory, these are:

• status
• date_of_birth

First Name and Last Name must each contain at least 1 character.

Email Address must be a valid business email address.

Phone Number must use the format:

• +{{country code}}-{{number}}
• plus (+) and hyphen (-) are mandatory
• An Australian phone number is required - country code must be +61  e.g. +61-123456789

Status must be 'Enabled'.

Date of Birth is required.

If login_id is required for a specific contact type or operational process, it should be documented as a business rule even though it is not API-mandatory.

Industry Type Codes 

These are the approved codes to use for Industry Type which is required for sub-accounts wishing to enable local AUD collections.