Wallets

A SentBiz multi-currency wallet is a currency-holding account linked to a specific Channel. It supports multiple currencies and acts as the core ledger for receiving (via virtual accounts), converting (FX), and disbursing (payouts) funds.

Wallet Structure

Channel: Logical grouping defined by purpose (e.g., region, brand, business use)

Wallet: One per channel; manages all funds collected through that channel

Currency: Each wallet supports balances by currency

Virtual Account (VA): KRW-based deposit account issued to merchants. Incoming funds are automatically posted to the corresponding channel's wallet.

Fund Flow

1. Deposit is made into a merchant's Virtual Account (VA)
2. The KRW amount is posted to the wallet linked to the merchant's channel
3. KRW balance increases in the wallet
4. Optional FX: Convert KRW into foreign currency within the wallet
5. Initiate payout using the converted funds (via Payout API)

FX Capabilities

Currency conversions within a wallet can be performed through the following options:

1. Real-Time FX Conversions

• Instantly converts available balances using market rates at the time of the request (available 24/7)
• Suitable for fast treasury operations or urgent payout needs

2. Locked Rate FX Conversions

• Locks in an exchange rate for a defined period, with manual approval by the SentBiz operations team before execution
• Useful for managing FX risk and securing rate certainty
• This option is available only to select clients based on individual agreements

3. Transaction-Level FX

• Automatically applies real-time FX at the moment of each payout request
• Streamlines treasury operations and ensures efficient rate application

API Summary