Transaction Fee

Banks can define different fees to be applied to bank account transactions. Using fee lists, fees with specified values can be attached to each bank account transaction operation type. When a transaction operation type is selected on a bank account transaction, Core Banking identifies the fee list and fee values and applies them considering the current date of the transaction.

Core Banking enables you to define the desired transaction fees by managing the records within Innovation Studio's dedicated menu, Transaction Fees.

To manage transaction fee records:

  1. Log into Innovation Studio.

  2. Click the main menu icon at the top left corner.

  3. In the main menu, expand the Product Factory menu.

  4. Expand Bank Transaction Configurations menu.

  5. Click Transaction Fee menu item to open the Transaction Fees List page.

On the Transaction Fees List page, you can:

  • Create a new transaction fee record by clicking the Insert button at the top right corner.

  • Edit an existing transaction fee record from the list by double-clicking it and editing the existing values in the fields.

  • Delete a record by selecting it and clicking the Delete button at the top right corner

  • Search for a specific record by filling in the column header of the displayed records list.

Creating Transaction Fee Records

Follow these steps to create new transaction fee records:

  1. In the Innovation Studio, click the Insert button on the top right side of the Transaction Fees List page. The Add Transaction Fee page is displayed.

  1. Fill in the following fields:

    2. Field Mandatory Data Type Details
    Code No Text Enter a code for this transaction fee record.
    Name No Text Enter the name of the transaction fee record.
    Currency Yes Lookup Select the currency of the fee.
    Bank Account for Fee Collection Yes Lookup Select the bank account for the fee collection.

  1. Click the Save and Reload button at the top right corner of the page.

    A new section, Transaction Fee Values, is displayed after saving the record. The values of the transaction fee are managed within this section.

  2. Click the Insert button within the Transaction Fee Values section to add a new value for the fee. The Add Transaction Fee Value page is displayed.

  1. Fill in the following fields:

    Field Mandatory Data Type Details
    Fee No Lookup The transaction fee record for which you are inserting values.
    Start Date Yes Invariant Date The date from which the fee value becomes active.
    End Date Yes Invariant Date The date until which the fee value is active.
    Transaction Fee Percent No Numeric The percent from the bank account transaction applied as fee value if the value is defined as a percentage. If the value is a fixed value, leave this field empty.
    Transaction Fee Value No Numeric The value of the transaction fee, expressed in the transaction fee currency if the value is not defined as percentage. If the value is calculated as a percentage, leave this field empty.

  1. Click the Save and Close button at the top right corner of the page. The new value for the transaction fee is saved.

    NOTE  
    You can add as many values as needed, as long as the validity periods of the value don't overlap. The fee values are identified and applied considering the current date of the transaction.