Managing Fees in Deposit Accounts
  • 19 Apr 2022
  • 2 Minutes To Read
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Managing Fees in Deposit Accounts

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Mambu supports three types of fees you can set up when creating a deposit product and later apply to deposit accounts, monthly fees, manual fees, and arbitrary fees.

The available fees for deposits are explained in more detail in Setting up new deposit products - Product fees.

Applying fees

Monthly fees are applied automatically on the account, either on the first day of each month or on the same day of the month the account was first created, according to the Apply Date Method you selected when you set up the deposit product, but manual or arbitrary fees are applied on an ad-hoc basis by following these steps:

  1. Open the deposit account.
  2. On the right-hand side of the screen, select More > Apply Fee.
  3. Enter the details of the fee.
  4. Select Apply Fee.

More drop-down with Apply fee option selected

Applying fees when there's not enough balance

By default, manual and monthly fees cannot be applied if there is not enough available balance in the account. Such fees will not consume ovedraft balance either.

The following table shows what happens if you try to apply fees when there is not enough balance on the account, depending on the product configuration:

Product configuration Results
No overdraft, no technical overdraft You cannot apply fees, the account balance can't go below zero.
Overdraft, no technical overdraft You can apply fees on the account even with insufficient available balance. Account goes into In arrears state.
No overdraft, technical overdraft You cannot apply fees, the account balance can't go below zero.
Overdraft, technical overdraft You can apply fees on the account even with insufficient available balance. Account goes into In arrears state.

Applying fees to current accounts in overdraft


This feature is not available by default.

If you would like to request access to this feature, please get in touch with your Mambu Customer Success Manager to discuss your requirements. For more information, see Mambu Release Cycle - Feature Release Status.

There is however an additional functionaility that can be enabled to allow you to apply manual and monthly fees regardless of the balance for current accounts. You must have Overdraft enabled at product level but the overdraft limit can be set to 0 if no arranged overdraft with the end client was made.

If this functionality is enabled, then if an account has a positive balance of USD20, it is possible to apply a USD25 fee, in which case the balance will go down to USD0 and the missing USD5 will become "Fees Due". For more information, see Overdraft Products.

Please be Aware

This functionality is irreversible.

Adjusting fees

To adjust or reverse a transaction involving fees that have been applied by mistake or with the wrong amount:

  1. Open the account.
  2. Go to Transactions.
  3. Find the transaction you want to adjust in the list and then, on the right-hand side of the row, select Actions > Adjust.
  4. Enter the reason for the adjustment.
  5. Select Adjust Fee. The transaction will be reversed.

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