Deposit Account Control Agreement (DACA)
DACA (Deposit Account Control Agreement) is a legal agreement that an account holder enters into, granting a secured party control of a certain deposit account and the funds in it, under certain conditions.
Unit supports that structure by providing 3 endpoints:
Enter DACA: Indicates that a certain deposit account is subject to a Deposit Account Control Agreement. When DACA is entered, an
Operatoris assigned so in case of DACA activation theOperatorwill take control over the account, being the only entity authorized to move funds outside of the account.Activate DACA: Activates the Deposit Account Control Agreement, preventing funds from being withdrawn from the account through either end-customer initiated actions (freezing cards, restricting ACH/Wire origination) or external attempts (automatically rejecting received ACH debits). The only way of initiating money related activities (that will result in withdrawing funds from the account) would be using an org API token (when acting as the
Operator).Deactivate DACA: Re-enables the customer's access to the account. Unfreezes the cards, re-enables ACH/Wire origination and received ACH debits.
The DACA functionality is not enabled by default, as it has significant compliance implications. Please contact Unit to enable this functionality.
DACA Statuses
| Status | Description |
|---|---|
| Entered | The account is subject to a DACA but the agreement is not yet activated. The customer retains full access to the account. |
| Activated | The DACA is active. The customer cannot withdraw funds, and only the Operator can initiate outgoing transactions. |