Introduction
The BankingAccountDetail response provides details of the consumer instantiation of a banking product. This includes details of rates, fees and discounts, which may differ from the corresponding product details in Product Reference Data.
BankingAccountDetail may includes rates, as single fields or in arrays.
BankingAccountDetail includes an array of BankingProductFee objects, which in turn may contain an array of BankingProductDiscount objects. These schemas provide the flexibility to represent a wide range of fees and discounts.
If the standards do not accommodate a required rate, fee or discount type, the DSB encourages participants to create change requests.
Applicable rates
The BankingAccountDetail structure should contain only the rates applicable to the account instantiation. For instance, a specific Term Deposit account should include only the rates for the duration and amount specific to the instantiated account.
Clarification on rate fields
The BankingAccountDetail schema includes the following fields, which are marked optional:
- depositRate
- depositRates
- lendingRate
- lendingRates
These fields are all optional because one or more of them may not be applicable to the respective account.
Lending or deposit:
- If a deposit account doesn’t have lending rates, the lending fields are not required.
- If a lending account doesn’t have deposit rates, then the deposit fields are not required.
- However, if the account has both lending rates and deposit rates, then all applicable fields must be included.
Single rate, multiple and tiered rates:
- If a product only has a single applicable rate, the array is not required, and the single rate can be provided in the depositRate field or in the lendingRate, as applicable.
- If a product has multiple applicable rates, such as tiered deposit rates, then both the array of rate detail and the single rate field are required. The Data Holder (DH) supplies the current effective rate in the depositRate field or in the lendingRate field, as applicable. The DH is expected to know the current effective rate. Clients can read the current effective rate directly, and are not required to parse the full array.
- Negotiated rates are displayed as current applicable rates.
Indicating a negotiated discount
Where a customer has negotiated a discount for the associated fee, populate the discount object with the negotiated discount. Express the amount as a positive value. The term discount implies a positive value is to be deducted from the base fee.
Indicating eligibility for discounts
In the BankingAccountDetail response, the Data Holder (DH) has discretion to indicate whether a consumer has met the eligibility requirements for a discount.
For example, where eligibility depends on a minimum monthly deposit, set discountType = DEPOSITS, and additionalValue to the value that must be deposited over a specified period. The additionalInfo can optionally also be used to note whether the customer has satisfied this condition.
The DH can indicate whether eligibility requirements are met using the BankingProductDiscountEligibility object. Set discountType = ELIGIBILITY_ONLY. In case the BankingProductDiscountEligibility must be populated.
Representing Complex Loan Fee Structures
In the BankingAccountDetail schema, complex loan fee structures can be described in the additionalInfo
field object, or in a URI specified in the additionalInfoUri
field, for each account.
Overdrafts
If the account is specifically an overdraft account, the BankingAccountDetail instance contains a BankingAccount instance, which contains the BankingProductCategory enum, with the value set to OVERDRAFT
.
If the account is of another type, but contains an overdraft feature, the BankingAccountDetail instance contains a BankingProductFeature property. This property contains the featureType
field, set to the enum value OVERDRAFTS
, and the isActivated
field, set to true
.
In either case, the overdraft rates for the account appear in the lendingRate
and lendingRates
fields.
The overdraft limit appears in the creditLimit
field of the BankingBalance payload.
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