Savings Information

Savings Information Guide

This guide covers everything you need to know about accessing savings account information in your Open Banking application. Our savings API provides comprehensive tools for viewing savings accounts and tracking savings transactions.

Overview

Savings management enables customers to track their savings goals, monitor their progress, and view detailed transaction history. This functionality is essential for financial planning, goal tracking, and wealth management applications. Our API supports complete savings account visibility and transaction monitoring.

Key Savings Operations

1. Get Customer Savings

Retrieve all savings accounts belonging to a customer, providing comprehensive information about their savings goals, progress, and upcoming contributions.

Sample Request

curl -X GET ${API_BASE_URL}/savings \
  -H "Authorization: Bearer ${YOUR_ACCESS_TOKEN}" \
  -H "signature: ${SIGNATURE}"

Sample Response

{
  "status": "00",
  "message": "Savings retrieved successfully",
  "data": {
    "savings": [
      {
        "savings_id": "1",
        "customer_id": "1",
        "product_id": "1",
        "start_date": "2021-01-01",
        "currency": "NGN",
        "savings_amount": 10000.00,
        "frequency": "MONTHLY",
        "total_savings_amount": 120000.00,
        "total_savings_transactions": 12,
        "missed_savings_amount": 20000.00,
        "missed_savings_transactions": 2,
        "next_savings_due_date": "2024-01-01",
        "next_savings_due_amount": 10000.00,
        "custom_properties": [
          {
            "id": "goal_name",
            "description": "Savings goal name",
            "type": "string",
            "value": "Emergency Fund"
          }
        ]
      }
    ]
  }
}

2. Get Customer Savings Transactions

Retrieve detailed transaction history for a specific savings account, including transaction summaries and individual transaction details.

Sample Request

curl -X GET ${API_BASE_URL}/savings/1/transactions?from=2024-01-01&to=2024-12-31&page=1 \
  -H "Authorization: Bearer ${YOUR_ACCESS_TOKEN}" \
  -H "signature: ${SIGNATURE}"

Sample Response

{
  "status": "00",
  "message": "Savings transactions retrieved successfully",
  "data": {
    "summary": {
      "account_number": "1234567890",
      "currency_code": "NGN",
      "from": "2024-01-01",
      "to": "2024-12-31",
      "first_transaction": "2024-01-01",
      "last_transaction": "2024-12-31",
      "opening_balance": 100000.00,
      "closing_balance": 120000.00,
      "total_debit_count": 5,
      "total_credit_count": 12,
      "total_debit_value": 50000.00,
      "total_credit_value": 70000.00,
      "pages": 10,
      "records_per_page": 10
    },
    "transactions": [
      {
        "id": "1",
        "amount": 10000.00,
        "channel": "MOBILE_APP",
        "transaction_type": "SAVINGS",
        "debit_credit": "CREDIT",
        "narration": "Monthly savings contribution",
        "reference": "SAV123456789",
        "transaction_time": "2024-01-01T10:00:00Z",
        "value_date": "2024-01-01",
        "balance_after": 110000.00,
        "status": "SUCCESSFUL"
      },
      {
        "id": "2",
        "amount": 5000.00,
        "channel": "WEB",
        "transaction_type": "WITHDRAWAL",
        "debit_credit": "DEBIT",
        "narration": "Emergency withdrawal",
        "reference": "WTH123456789",
        "transaction_time": "2024-01-15T14:30:00Z",
        "value_date": "2024-01-15",
        "balance_after": 105000.00,
        "status": "SUCCESSFUL"
      }
    ],
    "custom_properties": [
      {
        "id": "goal_progress",
        "description": "Progress towards savings goal",
        "type": "percentage",
        "value": "85"
      }
    ]
  }
}

Savings Frequency Types

The savings system supports various frequency options for recurring contributions:

Frequency	Description
DAILY	Daily savings contributions
WEEKLY	Weekly savings contributions
MONTHLY	Monthly savings contributions
QUARTERLY	Quarterly savings contributions
YEARLY	Yearly savings contributions

Transaction Types

Savings transactions can be categorized into different types:

Transaction Type	Description
WITHDRAWAL	Money withdrawn from savings
DEPOSIT	Money deposited into savings
TRANSFER	Transfer between accounts
PAYMENT	Payment made from savings
BILL_PAYMENT	Bill payment from savings
AIRTIME	Airtime purchase from savings
LOAN	Loan-related transaction
SAVINGS	Savings contribution
INVESTMENT	Investment transaction
OTHER	Other transaction types

Transaction Channels

Transactions can occur through various channels:

Channel	Description
ATM	Automated Teller Machine
POS	Point of Sale terminal
WEB	Web-based transaction
AGENT	Agent banking
BRANCH	Bank branch
MOBILE_APP	Mobile application
MOBILE_USSD	USSD mobile banking
MOBILE_CHAT	Chat-based banking
MOBILE_OTHER	Other mobile channels
DIRECT_DEBIT	Direct debit transaction
THIRD_PARTY	Third-party integration
OTHER	Other channels

Transaction Status Types

Savings transactions can have different statuses:

Status	Description
SUCCESSFUL	Transaction completed successfully
FAILED	Transaction failed

Make sure you send the appropriate scopes while requesting for a token: savings.list and savings.transactions.list. Failure to include these scopes will prevent access to the savings management APIs.

Next Steps

Now that you understand savings management operations, explore these related topics:

Developer Onboarding - Onboard Developer
Customer Management - Manage customer information and relationships
Account Management - Manage bank accounts and balances
Transfers - Process money transfers between accounts
Bill Payment - Process utility and bill payments
Card Management - Manage Payment Cards
Direct Debit Management - Manage Payment Cards
Dispute Management - Manage Payment Cards
Loan Information - Access customer Loan Information

Always ensure proper consent and authorization before accessing savings information. Implement robust error handling and maintain detailed audit trails for all savings-related activities. Regular monitoring and compliance with regulatory requirements are essential for successful savings management implementation.

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