Intro to Charges

There are costs involved in any operation and financial services are no different. Using the Mbanq platform, these costs can be tracked and passed along to clients as charges. Charges can include fees and or penalties. The Mbanq platform supports adding charges to

Checking, Savings and other accounts
Loan accounts
Transfers
Credit Cards

Available Charges

Charge Type	Applicable With	Charge Description
DISBURSEMENT	Loan account	A one-time fee applied to the loan account at the time of loan disbursement, covering administrative and processing costs.
SPECIFIED_DUE_DATE	Loan account, Savings account	This charge is used for special use case when the Fintech Platform wants to charge their users with a specific reason and date.
SAVINGS_ACTIVATION	Savings account	This charge is applied to the client's savings (or checking) account when it is first activated.
SAVINGS_CLOSURE	Savings account	This charge is applied to the client's savings (or checking) account when it is closed.
WITHDRAWAL_FEE	Savings account	This charge is applied to the client's savings account for each withdrawal transaction.
MONTHLY_FEE	Savings account	This is a recurring charge applied to the client's account once per month.
INSTALLMENT_FEE	Loan account	This charge is applied to the client's loan account with each installment payment.
OVERDUE_INSTALLMENT	Loan account	This charge is applied to the client's loan account when an installment payment is overdue. It covers the cost of processing and managing overdue payments.
OVERDRAFT_FEE	Savings account	This charge is applied to the client's account when they withdraw more money than they have available, resulting in a negative balance. The overdraft fee covers the cost of processing the overdraft and is charged in addition to the amount overdrawn.
WEEKLY_FEE	Savings account	This is a recurring charge applied to the client's account once per week.
TRANCHE_DISBURSEMENT	Loan account	This charge is applied to the client's loan account when the loan is disbursed in tranches (multiple disbursements). It covers administrative costs and processing fees associated with releasing each tranche of the loan amount to the borrower.
SAVINGS_NOACTIVITY_FEE	Savings account	This charge is applied to the client's savings account when there is no activity (deposits, withdrawals, or transfers) for a specified period. It encourages account holders to keep their accounts active and covers administrative costs associated with maintaining the account.
DOMESTIC_ATM_WITHDRAWAL_FEE	Savings account	This charge is applied to the client's account for each withdrawal made from an ATM within the same country as the account. It covers the cost of using the ATM network and processing the transaction.
INTERNATIONAL_ATM_WITHDRAWAL_FEE	Savings account	This charge is applied to the client's account for each withdrawal made from an ATM outside the account's home country. It covers the cost of using the ATM network and processing the international transaction.
INTERNATIONAL_TRANSACTIONS_FEE	Savings account	This charge is applied to the client's account for each transaction conducted in a currency other than the account's default currency. It covers the cost of currency conversion and processing the international transaction.
EXTERNAL_CARD_PUSH_TRANSACTION_FEE	Savings account	This charge is applied to the client's account for transactions where funds are pushed from an external card to their account. It covers the cost of processing the transaction and managing the transfer of funds from the external card issuer to the client's account.
EXTERNAL_CARD_PULL_TRANSACTION_FEE	Savings account	This charge is applied to the client's account for transactions where funds are pulled from their account to an external card. It covers the cost of processing the transaction and managing the transfer of funds from the client's account to the external card issuer.
TRANSFER_EXECUTE	Transfer	This charge is applied to the client's account for executing a transfer of funds. It covers the cost of processing the transfer and ensuring that the funds are transferred to the correct recipient.
SAVINGS_DORMANT_FEE	Savings account	This charge is applied to the client's savings account when the account becomes dormant due to inactivity for a specified period.
SAVINGS_ESCHEAT_FEE	Savings account	This charge is applied to the client's savings account when the account is turned over to the state due to inactivity for an extended period. It covers administrative costs associated with transferring the account to the state as required by escheatment laws.
SPECIFIED_MCC_FEE	Savings account	This charge is applied to the client's account for transactions made at merchants with specific Merchant Category Codes (MCCs). It could be a fee for transactions at certain types of merchants, such as casinos, or for specific types of transactions, such as cash advances.
CARD_ORDERING_FEE	Savings account	This charge is applied to the client's account when they request a new card, such as a debit or credit card. It covers the cost of producing and issuing the new card.
CARD_RE_ORDERING_FEE	Savings account	This charge is applied to the client's account when they request a replacement for a lost, stolen, or damaged card. It covers the cost of producing and issuing the replacement card.
TRANSFER_RETURN	Transfer	This charge is applied to the client's account for returning a transfer of funds. It covers the cost of processing the return and managing the transfer back to the sender.
LATE_PAYMENT_FEE	Credit Card	This charge is applied to the client's credit card account when the minimum payment is not received by the due date. It covers the cost of processing the late payment and is in addition to any interest that may be charged on the outstanding balance.
OVER_CREDIT_LIMIT_FEE	Credit Card	This charge is applied to the client's credit card account when the outstanding balance exceeds the approved credit limit. It covers the cost of allowing the account to go over the credit limit and is in addition to any interest that may be charged on the over-limit amount.
RETURN_PAYMENT_FEE	Credit Card	This charge is applied to the client's credit card account when a payment made to the account is returned unpaid, such as due to insufficient funds. It covers the cost of processing the returned payment.
STOP_PAYMENT_FEE	Transfer	This charge is applied to the client's account for requesting a stop payment on a check or other payment method. It covers the cost of processing the stop payment request and ensuring that the payment is not processed.
JOINING_FEE	Credit Card	This charge is applied to the client's account when they join a membership or subscription service. It covers administrative costs associated with setting up the new account.
DIRECT_DEPOSIT_CASH_ADVANCE_FEE	Credit Card	This charge is applied to the client's account for obtaining a cash advance through direct deposit. It covers the cost of processing the cash advance transaction.

Applying Charges

After defining a charge you can apply it to a specific financial product or an account directly:

To apply a charge into an account directly you can make an API as described here
To apply the charge into Savings or Loan product you need to call product update API as described here