MXapi Overview

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MX offers a wide variety of financial data  API services using the REST architecture. These are collectively known as MXapi. These services are powered by various forms of data aggregation and enhancement. Or more simply, by gathering account and transaction data and enhancing it with information such as merchant data and MX-designed categories and classifiers. 

Data can be gathered from tens of thousands of financial institutions. However, not every financial institution supports every service. 

These services allow you to access and manipulate data and deliver them to end users in your products. MXapi includes the following services, which are available separately or based on subscription.

Available services

Instant Account Verification

Verify an end user’s account and routing number for demand deposit accounts. Instant Account Verification does not move money between accounts, but may be used as a verification step before moving money with systems such as the automated clearing house. 

Account Owner Verification

Verify the identifying information associated with an end user’s demand deposit account such as name, street address, phone number, and email address. Account Owner Verification does not move money between accounts, but may be used as a verification step before moving money with systems such as the automated clearing house. 

Account Aggregation

Gather an end user’s account and transaction data from the past 90 days. Often referred to as “standard aggregation.”

Balance Aggregation

Gather account balance data without gathering transaction data. 

Statements

Gather recent statements for an account in PDF format. 

Microdeposits

Verify an end user’s demand deposit account and routing number by making two small deposits to that account, then asking the end user to verify the exact amounts deposited. 

Extended Transaction History

Gather an end user’s account and transaction data from up to the past 24 months. 

Retail Data Enhancement

End-user transaction data is enhanced by being categorized, given a cleansed, human-readable description, and possibly assigned classifications, merchants, or merchant locations. Available as a monthly subscription or on a per-transaction basis. Per-transaction functionality does not include data storage.

Business Data Enhancement

Transaction data enhancement geared toward businesses, with specialized categories, descriptions, and classifications. Available as a monthly subscription or on a per-transaction basis. Per-transaction functionality does not include data storage.

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