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Account Lifecycle

Overview

This page explains the lifecycle of an account once the user adds or aggregates it to the Envestnet | Yodlee Platform. The system sets different statuses to the account based on the user action, the status of the account at the provider site, or the closed account feature key.

The different statuses of an account are as follows:

Account Status Description
ACTIVE The account is aggregated and is available during refresh.
INACTIVE The account is made inactive by the user or by the customer on behalf of the user through APIs.
TO_BE_CLOSED The account is found to be closed at the provider site and is awaiting the user’s confirmation to be closed, or the account is not available at the provider site.
CLOSED The account is closed by the users or closed in the platform based on the logic in the Implementation Details section.
DELETE The user deletes the account through FastLink or using the DELETE /accounts/{accountId} API.
Note: After the account is deleted, this account status can be viewed only once in FastLink or the GET /dataExtracts/userData API.

Implementation Details

The implementation flow follows:

  1. Once the user aggregates the account using FastLink, check if the account has returned in the refresh process.
    • Yes – The account status is set to ACTIVE in the platform.
    • No – Continue to Step 2.
  2. Check the Enable Closed Accounts flag value –
    • FALSE – The account status remains ACTIVE as the account continues to return in the refresh process.
    • TRUE – Continue to Step 3.
  3. Check the Close Account flag value –
    • TRUE - The account status changes to CLOSED and remains the same if the account returns in the refresh process.
    • FALSE - The account status changes to TO_BE_CLOSED and remains in the same status if the account does NOT return in the refresh process. If the account returns in the refresh process, the status of the account will change to ACTIVE.

Flow Chart

Account Lifecyle Flowchart

Closed Account Feature Keys

Key Name Default Value Description
Enable Closed Accounts FALSE Feature switch to enable the closed accounts feature if the account has been closed at the provider site.
Close Account FALSE Flag to define if the account should be moved to CLOSED (if TRUE) or TO_BE_CLOSED (if FALSE).