Bank Account Collection Overview

Options for collecting counterparty bank account details

Modern Treasury offers a number of ways to collect external account details, which are your counterparty's bank account details.

Things to Consider

When selecting a method for collecting bank account details, there are a few things to consider:

  1. Data Privacy Protection: Are you handling or storing personally identifiable or other sensitive information (e.g. account numbers)?

  2. Customizability: How customizable is the counterparty or end-user experience?

  3. Dashboard: Is the method accessible through the Modern Treasury Dashboard?

  4. API: Is the method accessible through the Modern Treasury API?

Pre-Built UIs

Modern Treasury's pre-built UIs offer the perfect mix of integration ease and customizability that enable you to offer a branded and contextual experience for end users. Below you will find the different options available for collecting bank account details as well as other workflows with extended functionality.

Embedded Account Collection

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Embedded Account Collection allows developers to quickly embed a customizable form directly into your application. The form will adapt to the payment scenario, automatically collecting the correct fields based on payment method(s), country, and configuration.

Embedded Payment

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Embedded Payment Flow extends the functionality of the Embedded Account Collection by allowing you to also create a payment order. You can configure the amount and other payment details, allowing you to easily collect and store bank account information as well as immediately creating a payment order.

Counterparty Invitation

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The Counterparty Invitation is a quick and easy way to collect counterparty and bank details from users using a unique URL hosted on These URLs can be generated and sent both in the dashboard and API.


Using Modern Treasury's API gives you the most control and customizability of bank account collection. The API allows you to easily create and manage external accounts.

Standard API Integration

Data Privacy ProtectionCustomizabilityDashboardAPI

The main consideration with the Standard API Integration is how you will manage data that passes through your systems before it is sent to Modern Treasury via API. To help you mitigate exposure to sensitive information, you can enable Data Privacy Controls.

Plaid Processor Token

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If you are also a Plaid customer, you can use Plaid to authenticate your user and pass the resulting Plaid processor token to Modern Treasury. Modern Treasury will exchange the token with Plaid and create an external account, which you can then use to create payment orders as needed.


Modern Treasury's dashboard allows you to easily add and manage bank accounts. The dashboard is great for operations teams who need to handle support or one-off requests.

Manual Entry

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You can create a new counterparty or manage existing ones and their external accounts using the dashboard. Your ability to view or manage counterparties and external accounts will be based on your roles and permissions.

Bulk Imports

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Selecting the Best Method

Modern Treasury offers a number of ways to collect counterparty and bank account information, because there is no "one size, fits all" method. Generally, we highly recommend using the Pre-built UIs as they offer additional layers of security, not requiring you to handle sensitive information directly. The Pre-Built UIs are also designed to be dynamic and are kept up to date with any developments to banks or payment rails.