8 docs tagged with "product"

Account statuses

Commission is an incentive that Griffin pays to you based on the balances that your customers hold with Griffin. We pay this to our customers to give a share of the value that we earn on deposits held, and to incentivise our customers to grow their deposit base with us. Commission behaves a lot like interest except that commission is not paid to the owner of the account, but to the Griffin customer that controls the account.

Interest is money that you earn on your funds that you hold with Griffin. It is based on the amount of money you hold with us and the interest rate on the account that holds the funds.

When you open a bank account with Griffin, you need to tell us who has what rights and permissions regarding that account.

What is the primary account?

Our platform has two types of organizations: sandbox and live.

Griffin requires two-factor authentication (2FA) every time you log in or make a payment. You must authenticate using a passkey stored on a security device of your choice.

There are three main categories of bank accounts you can open with Griffin: