Archived 2023.09.04. See Consumer Data Standards, BankingAccountDetailV3
Question
The specificAccountUType
field in the BankingAccountDetail object is specified as optional in the schema. Is it mandatory for a Data Holder to include the field if the account is a Term Deposit, Credit Card or Loan?
Answer
The specificAccountUType
field is a discriminator for the schema to identify which one of a series of optional structures is present. As we have included only the termDeposit
, creditCard
and loan
structures for additional inclusion that is all that is included in the specificAccountUType
enum list. Hence the UType
is optional.
If the type of product being described is one of the three supported and can be expressed in a compliant manner, then the additional data is required. The type is optional so that exceptions are not required, for example in the case of a lending product that has no interest rate.
Question
The following are conditional fields in the BankingAccountDetail
object. Are they mandatory if the account is a Term Deposit, Credit Card or Loan? That is, are they conditional on specificAccountUType
?
termDeposit
creditCard
loan
Answer
The fields are mandatory, depending on specificAccountUType
. See the answer to the first question above.
Question
Thefeatures
field in the BankingAccountDetail
object is specified as optional in the schema, however, is it essentially mandatory for us to include if the account has features if the equivalent product has those product features in the Product Reference data?
Answer
It is optional from the perspective that not all accounts or products may have features. However, if the account has a set of relevant features as described in the associated PRD product record or negotiated by the customer these must be shown. It is not optional for the DH to exclude showing features if they apply.
Question
The depositRates
and lendingRates
fields in the BankingAccountDetail
object are specified as optional in the schema, however, is it mandatory to include them if the equivalent product has those rates in the Product Reference Data?
Answer
That is correct. These should be the rates applicable to the account which might include negotiated rates (not the publicly offered rates). They are optional because it is dependent on the type of account whether that part of the schema is applicable.
Comments
1 comment
Does that mean if we have other Accounting products like for example Savers Accounts, High Interest Saving Accounts we do not have to provide the data as there is no supported enum value under specificAccountUType? My understanding is that we only provide data for products that are related to either a Loan, Card or a Term Deposit which are the values that is supported under SpecificAccountUType OR do we provide the details of other products like Savers Accounts, High Interest Saving Accounts and provide the rates under BankingProductDepositRate and exclude SpecifcAccountUtype field?
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