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 is created on financial accounts and becomes available at the end of a billing cycle. The billing period and end date for credit card products may vary across financial accounts in your portfolio. Statement data is typically available within 48 hours of a billing period's end date.

Refer to the following guidelines for generating billing statements:

• To generate billing statements with only posted transactions and financial account balances for a given billing period: Query the FinancialAccountStatementSnapshot and use the latestClosedStatement
• To generate billing statements with transactions for the current billing period and their upcoming due date: Query the FinancialAccountStatementSnapshot and use the currentOpenStatement

When querying a FinancialAccountStatementSnapshot, you must reference the appropriate statement snapshot type for your card product to retrieve the current amount due from the financial account:

When a balance is due on a financial account, the currentAmountDue reflected on the statement snapshot will be updated and reflect any payments or refunds (credits) between the billing period end date and the due date. For credit card products with revolving balances, the currentAmountDue will reflect the minimum payment due minus any credits to the financial account. You can use the currentAmountDue to present an account holder's balance to them on your website or application outside of their billing statements so they are aware of their balance due since their last statement.

The billing period start date, end date, and due date occur at midnight Eastern Standard Time (EST) or Eastern Daylight Time (EDT) and are presented in Coordinated Universal Time (UTC). If you are presenting the date of these fields to account holders, refer to the following table to update the calendar day on your website or application for the applicable time zone:

You can use the following query to generate the current billing statement for an account holder:

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 search for details on a billing statement with a provided statement ID. Billing statement details include details from financial events in the statement's billing cycle period and summary-level balances. The following table provides an overview of elements of the summary statement balance that can be retrieved from a billing statement:

For credit card products with the REVOLVING credit feature, a financial account's statement will include detailed balances, interest charges, and transactions for each credit plan, categorized by balance type. Additionally, a payOffWarning field is included in the statement. The pay-off warning uses the following monthly payment scenarios to reflect the monthly payment amount, estimated days to pay off the balance, and total balance to be paid:

• If the minimum payment amount is made monthly
• If the total balance is paid off over three years

Use the following query to fetch a statement by ID:

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:

Note: 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:

Note: 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: