Counterparties Overview

An overview of managing counterparties and their external accounts

A Counterparty is any individual or business that you wish to interact with on the Modern Treasury platform. For Payments, these interactions are typically originating a credit (a.k.a. paying) or a debit (a.k.a. charging) using payment orders.

Counterparties can have bank accounts that they own and control, which are called External Accounts in Modern Treasury. View the guides for bank account collection and bank account verification for more information.

Counterparties can be linked with Legal Entities for the purposes of KYC / KYB processes at bank partners or international payments. View the guides for Legal Entities for more information.

Counterparties can also be associated with Internal Accounts and Virtual Accounts , which can be helpful for payments origination and reconciliation.