Interest and referral bonus

Increase’s bank partner may pay interest on your deposits and your customers’ deposits. The bank may also pay a bonus based on those balances, sometimes called a deposit bonus or balance incentive. Your agreement with the bank specifies the calculation and rates.

Interest and bonus amounts accrue daily based on the account’s balance at midnight UTC. You can check an account’s current balance at any time with the Balance API.

You’ll receive a payment on the first of each month for the interest and bonus amounts that accrued during the previous month. For example, on February 1st you’ll receive a payment based on balances for the 31 days of January.

Using the API

In the API, interest is paid as Interest Payment Transactions and bonuses as Account Revenue Payment Transactions.

When a payment is posted, you’ll receive an Event webhook with the type transaction.created.

This simulation allows you to generate a payment in Sandbox. Besides this simulation, interest and bonus are not created in Sandbox.

Configuration

To help with accounting, you’ll receive a monthly payment per account. We recommend leveraging as many accounts as you need to best organize your use case.

You can configure one of two payment schemes.

• Receive each Account’s payment to that Account.
• Receive each Account’s payment to one designated income account.

Most platforms opt to receive the payments into one income account.