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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.

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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.

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Key Savings Operations

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1. Get Customer Savings

Retrieve all savings accounts belonging to a customer, providing comprehensive information about their savings goals, progress, and upcoming contributions. 
curl -X GET ${API_BASE_URL}/savings \
  -H "Authorization: Bearer ${YOUR_ACCESS_TOKEN}" \
  -H "signature: ${SIGNATURE}"

{
  "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"
          }
        ]
      }
    ]
  }
}

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2. Get Customer Savings Transactions

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

{
  "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"
      }
    ]
  }
}

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Savings Frequency Types

The savings system supports various frequency options for recurring contributions:
FrequencyDescription
DAILYDaily savings contributions
WEEKLYWeekly savings contributions
MONTHLYMonthly savings contributions
QUARTERLYQuarterly savings contributions
YEARLYYearly savings contributions

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Transaction Types

Savings transactions can be categorized into different types:
Transaction TypeDescription
WITHDRAWALMoney withdrawn from savings
DEPOSITMoney deposited into savings
TRANSFERTransfer between accounts
PAYMENTPayment made from savings
BILL_PAYMENTBill payment from savings
AIRTIMEAirtime purchase from savings
LOANLoan-related transaction
SAVINGSSavings contribution
INVESTMENTInvestment transaction
OTHEROther transaction types

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Transaction Channels

Transactions can occur through various channels:
ChannelDescription
ATMAutomated Teller Machine
POSPoint of Sale terminal
WEBWeb-based transaction
AGENTAgent banking
BRANCHBank branch
MOBILE_APPMobile application
MOBILE_USSDUSSD mobile banking
MOBILE_CHATChat-based banking
MOBILE_OTHEROther mobile channels
DIRECT_DEBITDirect debit transaction
THIRD_PARTYThird-party integration
OTHEROther channels

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Transaction Status Types

Savings transactions can have different statuses:
StatusDescription
SUCCESSFULTransaction completed successfully
FAILEDTransaction 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.

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Next Steps

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