---
title: "Create a settlement rule"
method: POST
path: "/virtual-accounts/{accountId}/settlement-rule"
tags: ["Settlement Accounts"]
---

# Create a settlement rule

`POST /virtual-accounts/{accountId}/settlement-rule`

The `POST /virtual-accounts/{accountId}/settlement-rule` endpoint creates a settlement rule, for a given settlement account.

## Path parameters

- `accountId` string, required

## Request body

- CreateVirtualAccountSettlementRuleRequest — Contains the request payload to create a settlement rule.
  - `accountId` string, required — The system-generated, unique id which specifies the settlement account.
  - `payeeAccountDetails` Creditor, required
    - `name` string — The owner name for the creditor account.
    - `ultimateCreditorName` string — The ultimate creditor name.
    - `bankName` string — The creditor's bank name.
    - `accountNumber` string — The unique identifier for the bank account in the UK or Ireland.
    - `bic` string — The Business Identifier Code (BIC), <a href="https://www.iso.org/standard/84108.html" target="_blank">ISO 9362</a>, is the SWIFT Address assigned to a bank in order to send automated payments quickly and accurately to the banks concerned. It uniquely identifies the name and country, (and sometimes the branch) of the bank involved. BICs are often called SWIFT Codes and can be either 8 or 11 characters long."
    - `iban` string — The International Bank Account Number, used when sending interbank transfers or wiring money from one bank to another, especially across international borders. It consists of a two-letter country code followed by two check digits and up to thirty-five alphanumeric characters.
    - `sortCode` string — The number assigned to a branch of a bank, typically containing six digits and most commonly used in the UK and Ireland.
  - `amountType` 'FIXED_VALUE' | 'PERCENTAGE' | 'BALANCE_TO_RETAIN', required — The type of the amount.
  - `amountValue` string, required — The value of the amount.
  - `timeInterval` 'INTRADAY' | 'DAILY' | 'WEEKLY' | 'MONTHLY' | 'QUARTERLY' | 'HALF_YEARLY' | 'YEARLY', required — The time interval.
  - `effectiveFrom` string — The start date of the settlement rule is formatted as `YYYY-MM-DDTHH:MM:SSZ`.
  - `effectiveTo` string — The end date of the settlement rule is formatted as `YYYY-MM-DDTHH:MM:SSZ`.
  - `intradayIntervalHours` integer, required — The intraday interval hours.
  - `intradayIntervalMinutes` integer — The intraday interval minutes.
  - `description` string — The description used for payouts created due to this rule. The maximum length is 18 characters and allowed characters are alphanumeric, space, hyphen (-), period (.), ampersand (&), and forward slash (/).

## Response `200`

Successful response

- CreateVirtualAccountSettlementRuleResponse — Contains the response of the create a settlement rule request.
  - `settlementRuleId` string, uuid — The id of the settlement rule.

## Other responses

- `400` — The client specified an invalid argument
- `401` — The authorization information is missing or invalid
- `403` — Permission to access this endpoint is denied
- `404` — The requested entity, such as an account, was not found
- `429` — Too many requests
- `500` — An unexpected or internal server error
- `501` — The operation was not implemented
- `503` — Service is unavailable
- `504` — Gateway has timed out

---

[API](https://skmtc.net/token/apis/token-io-s-open-banking-api-for-tpps.md) · [All operations](https://skmtc.net/token/apis/token-io-s-open-banking-api-for-tpps/llms.txt) · [OpenAPI document](https://skmtc-service-staging.skmtc.workers.dev/v1/apis/token/token-io-s-open-banking-api-for-tpps/versions/5e8d6d2c24a1/schema)