Account types
What account types do we provide.
Overview
There are three account types:
- Deposit accounts
- Secured deposit accounts (SDA)
- Credit accounts
These are described in the following table.
Account Type | Description |
|---|---|
| Deposit account | A deposit account is a standalone account with the ability to transfer funds in and out via a linked external account. It can also instantaneously move funds to any other type of account. |
| Security deposit account | A security_deposit account, is an asset account that is used as collateral for credit. It also has the ability to move funds in and out via an external bank account, as well as perform account-to-account transfers for credit repayment. The SDA balance controls the credit limit provided by its linked credit account. |
| Credit account | A credit account stores the credit owed and the credit limit of any outstanding loan or revolving credit line. |
The Account object comprises two parts; the root object, which is all of the inherited structure across all accounts, and an object that specifies the type of account being used (credit, deposit, security_deposit).
The following example illustrates the base account object attributes. Note that all numeric fields that represent amounts are in cents and are thus integers.
{
"account_id": "a2cbc90c-caeb-4137-8d95-3d1b64c10628",
"date_updated": "2022-07-08T16:44:20.179543Z",
"date_created": "2022-07-08T16:44:20.179543Z",
"program_id": "84183869-461e-4e96-86b5-45b824aae569",
"customer_id": "842ebd28-6d86-4d05-9630-b12cf9278875",
"type": "deposit",
"status": "active",
"routing_number": "014175741",
"account_number": "61286758183945",
"description": "My First Deposit Account",
"balance": {
"previous_statement_balance": 97495,
"available_balance": 97495,
"current_balance": 97495,
"currency": "USD"
},
"cards": [],
"deposit": {}
}
The following table describes the attributes in the base account object.
| Attribute | Description |
|---|---|
account_id | The unique ID of the account. |
date_updated | The last time the account object was updated. |
date_created | The date and time the account was created. |
program_id | The ID of the program that this account belongs to. |
customer_id | The ID of the customer that this account belongs to. |
type | The type of the account, for example deposit. |
status | The status of the account, for example active. |
routing_number | The routing number of the bank that hosts this account. |
account_number | The bank account number. |
description | A description of the account which is used as an alias for the account, such as "HSA Account" or "Tax Account". |
balance.previous_statement_balance | The end balance of the previous statement. If there are no previous statements, this value is zero. This value is in cents and is thus an integer. |
balance.available_balance | The balance available to the end user which includes any pending transactions. |
balance.current_balance | The balance of all settled transactions. |
balance.currency | The the currency of this account. |
cards | The cards associated with this account. |
Amounts in Cents
All numeric fields that represent amounts are given in cents. They are always integers. For example, a
current_balanceof $13.44 is stored as1344.
Deposit accounts
A deposit account is our basic account type.
The following example illustrates the basic structure of a deposit account.
{
"account_id": "a2cbc90c-caeb-4137-8d95-3d1b64c10628",
"date_updated": "2022-07-08T16:44:20.179543Z",
"date_created": "2022-07-08T16:44:20.179543Z",
"program_id": "84183869-461e-4e96-86b5-45b824aae569",
"customer_id": "842ebd28-6d86-4d05-9630-b12cf9278875",
"type": "deposit",
"status": "active",
"routing_number": "014175741",
"account_number": "61286758183945",
"description": "My First Deposit Account",
"balance": {
"previous_statement_balance": 97495,
"available_balance": 97495,
"current_balance": 97495,
"currency": "USD"
},
"cards": [],
"deposit": {}
}
There are currently no attributes added to a deposit account, but notice that the type derives the name of the object with the model; "type": "deposit" and it's corresponding object is "deposit": {}"
Security deposit accounts
The following example illustrates the basic structure of a security deposit account.
{
"account_id": "f7e98526-25e6-40ba-81e4-14ebc063a671",
"date_updated": "2022-07-08T16:44:20.179543Z",
"date_created": "2022-07-08T16:44:20.179543Z",
"program_id": "ad6a3f0c-5012-4cf6-907b-85224e8a7919",
"customer_id": "26700f58-dfcd-4a28-b9c3-1265b69df52c",
"type": "security_deposit",
"status": "active",
"description": "",
"routing_number": "547897762",
"account_number": "574771265",
"balance": {
"current_balance": 50000,
"ledger_balance": 50000,
"currency": "USD"
},
"security_deposit": {
"credit_account_id": "83312b92-8218-430f-a73a-cae35f93218b"
}
}
Notice that the "type": "security_deposit" has a corresponding object; "type": "security_deposit": {}"`.
The following table describes the secured deposit account attribute.
| Attribute | Description |
|---|---|
security_deposit.credit_account_id | The credit account this secured deposit account is tied to. |
Credit accounts
The following example illustrates the basic structure of a credit account.
{
"account_id": "8a543f24-90af-420e-be48-c3e651d8332b",
"program_id": "e618458e-f4bd-4870-9244-d7e062794e58",
"customer_id": "6ad049b3-108e-4a35-b743-0a875542dbb6",
"date_updated": "2022-09-06T21:36:26.376769Z",
"date_created": "2022-07-01T15:59:13.924400Z",
"type": "credit",
"status": "active",
"routing_number": "084106768",
"account_number": "9501118375993606",
"cards": [
"4da1f1ff-95c4-412b-9dd1-8addb4dc6c99"
],
"balance": {
"current_balance": -500,
"available_balance": -1700,
"previous_statement_balance": 0,
"locked_balance": 0,
"currency": "USD"
},
"credit": {
"credit_limit": 15242,
"security_deposit_account_id": "d574e241-3745-493f-a784-8e3108cec5d7"
},
"description": ""
}
Notice that the "type": "credit" has a corresponding object; "type": "credit": {}"`.
The following table describes the credit account attributes.
| Attribute | Description |
|---|---|
balance.current_balance | The amount the cardholder owes on their account, minus any pending purchases or payments. |
balance.available_balance | The amount the cardholder owes on their account, including any pending purchases or payments. |
balance.previous_statement_balance | The balance owed on the statement for the previous billing cycle. |
credit.credit_limit | The balance of the security deposit account that this credit account is linked to. |
credit.security_deposit_account_id | The account_id of the security deposit account that this credit account is linked to. |
Available to Spend
In order to calculate the total amount available to spend, you will add the values for balance.available_balance and credit.credit_limit.
When a new credit account is created alongside a new secured charge card, available balance and current balance start at 0. As the customer makes more purchases, available balance and current balance take on greater negative values as they increase.
By adding the available_balance to the credit limit, you will get the total amount of credit that the customer has left to use.
Available to Spend
available_to_spend = balance.available_balance + credit.credit_limit
Updated about 2 years ago