Deliver Statements

This guide outlines how to create billing statements for account holders, especially for products with fees. Billing statements are often required, particularly for credit card products. Highnote provides the data needed to make a statement, which you can use to create your own statement template.

You can get notified when new billing statements are available for financial accounts using the FINANCIAL_ACCOUNT_STATEMENT_READY notification event. This notification event allows you to generate statements for your account holders. See Notifications to learn more about subscribing to events.

Billing statement data for financial accounts is generated at the end of each billing cycle. For credit card products, the end date of the billing period may vary across different financial accounts. Typically, statement data is available within 48 hours after the billing period concludes.

You can use a financial account's statement snapshot to generate billing data. A statement snapshot is comprised of the following:

• latestClosedStatement: You can use this to query the latest billing statement data, including all posted transactions and their associated balances for the billing period.
• currentOpenStatement: You can use this to query current billing statement data, including current transactions and upcoming due dates.
• currentAmountDue: This reflects any balance due on the financial account. This value is updated to account for any credits, such as payments or refunds, between the billing period's end date and the due date. For credit card products with revolving balances, currentAmountDue shows the net minimum payment due, considering any credits.

Depending on your card product type, use the appropriate statement snapshot type to retrieve the current amount due from the financial account:

The currentAmountDue can be presented to the account holder separately from the statement to keep them informed of any outstanding amount since their last statement. For example, you may want to display the currentAmountDue on an account holder's account page when they login to your website or application.

Billing statement dates, including start, end, and due dates, are set to midnight Eastern Standard Time (EST) and presented in Coordinated Universal Time (UTC). When displaying these dates to account holders, ensure you adjust the calendar day based on the relevant time zone. For instance, in the North American region:

• paymentDueOn: Subtract one calendar day for the due date.
• periodStart: No change needed for the billing period start date.
• periodEnd: Subtract one calendar day for the billing period end date.

The following test query displays how you would generate a current billing statement for an account holder with a consumer revolving credit card product:

To display billing statement history, you can look up past billing statements for a financial account for up to 24 months. To filter data, you can search by periodStart or periodEnd of the billing period. If a financial account has no data for a specific time period, you won’t get any results when querying for past billing statements in that time period.

The following test query can be used to find billing statement history on a financial account for a consumer revolving credit card product:

You can access specific details of a billing statement using the statement ID. This includes both the individual financialEvents within the billing cycle and a summary of the statement's balances. You can retrieve the following key elements of the summary statement balance:

For financial account with the REVOLVING credit feature, the statement will include detailed balances, interest charges, and transactions for each credit plan, categorized by balance type. It also features a payOffWarning that shows the impact of the following different payment scenarios:

• Minimum payment made each month
• Total balance paid off over three years

The following query fetches a statement using its ID for a revolving credit card product:

Statement entries are presented in a paginated format. You can filter these entries based on their posting date and by distinguishing between credit and debit transactions.

The following query applies these filters to statement entries for a consumer revolving credit card product:

This simulation feature is only compatible with Credit Card Products at this time.

In the Test Environment, you can end a financial account’s billing period early to simulate a billing period's statement. When performing this simulation, refer to the following guidelines:

• The new period must be set at least 60 seconds into the future.
• If you don’t provide a periodBoundary, the system will default the statement’s endPeriod to 60 seconds from now.

To simulate changing a statement's end period for a consumer revolving credit card product, use the following mutation:

This simulation feature only works with credit card products at this time.

In the Test Environment, you can transition a financial account’s billing period to the next cycle. This action simulates the conclusion of one billing cycle and the commencement of another for a financial account. To retrieve the simulated current amount due for your specific card product, refer to the corresponding statement snapshot type:

The following mutation simulates rolling over the current statement period for a consumer revolving credit card product: