- 21 Aug 2023
- 3 Minutes To Read
Deposit Fees Setup
- Updated On 21 Aug 2023
- 3 Minutes To Read
Mambu supports three types of fees you can set up when creating a deposit product, which you can apply to deposit accounts later:
- Arbitrary fees
- Manual fees
- Monthly fees
You can use Mambu Functions to create custom fees to bind to your deposit products. Mambu Functions allow you to inject custom code and extend the Mambu banking platform. For more information on creating and deploying Functions, see Building and Deploying Mambu Functions.
Set up a new deposit fee
To set up a new deposit fee:
- From the main dashboard, go to Administration > Products > Deposits.
- In the bottom-right corner, select New Deposit Product.
- In the Product Fees section of the Creating a New Deposit Product form, on the bottom-right corner, select Add Fee.
- Enter a name for the fee you are creating.
- Select the type of fee you want to set up.
- Enter the amount of the fee.
- Enter a unique identification number (ID) for the fee you are creating.
- Optional: To bind a Function to your product, select Function (€) in the Fee Payment dropdown. For more information on creating and deploying Functions, see Building and Deploying Mambu Functions.
- Optional: In the Functions dropdown, select the Function you want to bind to the product from the list of Functions that have been previously deployed.
- For monthly fees, under Applied Date Method, choose the method for calculating the day when the fee will be applied. See an example in the following table.
- Once you are done configuring your product, select Save Product.
Deactivating and reactivating fees
If a fee is no longer applicable, you can deactivate it by selecting the small green square next to it and then saving your changes. When the fee is deactivated, the small green square will turn from green to grey - and vice-versa.
To reactivate a fee, follow the same procedure: select the grey square, then save your changes.
Fees can only be deleted if they have never been applied to any account. This option is only available for specific cases where a fee was created by mistake and we strongly recommend you to use it with care.
To delete a fee, select the green Delete button on the right-hand side, then save your changes.
For fees that have already been used in an account you must deactivate the fee in order to delete it afterwards. After you deactivate the fee, it will no longer be applied to any accounts created under that product.
These are fees which can be applied manually to accounts at any point and with any given amount. To activate arbitrary fees, select the Allow Arbitrary Fees checkbox in the Product Fees section of the Creating a new deposit product form.
If you apply arbitrary fees, you will not be able to separate accounting or reporting based on the fee type. Moreover, getting the reason why the fee was applied when auditing will be difficult. We strongly recommend creating and applying manual fees for each scenario instead.
These are fee where you already know the amount you want to apply.
These are fees that are automatically applied to the accounts after being set up in the deposit product.
In the following table, you can see the exact dates when fees are applied according to the Apply Date Method you choose.
|Account Activation Date
|Monthly from Activation
|First Day of Every Month
For more information about how to apply or adjust fees, see Managing Fees in Deposit Accounts.