Table of contents
Account holders are people or businesses that hold financial accounts or use payment cards. This guide provides an overview of account holder types on the Highnote platform.
Account holder types
An account holder is someone who's issued a payment card or financial account connected to a card product. Highnote supports two types of account holders:
- Business account holder: A cardholder that uses a commercial card product
- Person account holder: A cardholder that uses a consumer card product
Authorized users
Note: The authorized users feature is only available for commercial card products.
Authorized users are secondary cardholders connected to an account holder, with fewer capabilities. Authorized users are used in several use cases, such as issuing business cards to employees or creating categorized spending payment cards.
Capabilities
Authorized users have fewer capabilities than account holders. The following table outlines the difference in capabilities between authorized users and account holders:
| Capability | Authorized users | Account holders |
| Get a payment card | ||
| Spend on a payment card | ||
| Provision a card to a digital wallet | ||
| Receive a one-time password (OTP) for digital wallet verification | ||
| Use personal address for Address Verification Systems (AVS) | ||
| Use business address for Address Verification Systems (AVS) | ✖️ | |
| Open financial account | ✖️ | |
| Move funds | ✖️ |
Benefits and use cases
Authorized users have fewer capabilities than an account holder, providing several benefits and use cases to card products, including but not limited to:
- You can issue payment cards to authorized users so they may access funds, but authorized users can't manage money movement or create new accounts.
- Authorized users' payment cards are issued with their name and address.
- Account holders can allocate funds for authorized users.
- Authorized users have their email address and phone number associated with their payment card, providing access to digital wallet capabilities.
Primary authorized person
Note: If a primary authorized person owns or controls at least 25% of the business, they are also automatically added as a beneficial owner.
Primary authorized persons are required for all business account holders. A primary authorized person is authorized to act on behalf of the business.
Beneficial owners
Beneficial owners are optional for business account holders. A beneficial owner is defined as someone who owns at least 25% of the business.