Statements
Statements are generated automatically and gradually at start of each month, and providing them to your customer is a regulatory requirement. This allow your customers to keep track of money movements and act on any fraudulent charges or mistakes.
While Unit generates statements for both deposit and credit accounts in line with detailed regulatory requirements, you will be responsible for distributing those statements to your customers. Statements must be enabled by Unit for credit accounts.
Unit provides a cross-platform suite of flexible and customizable white-label UI components, including an account component, through which the end customer can access their monthly statements. You may embed the components into your app to shorten your time to market and deliver a highly optimized experience to your end customer with minimal engineering investment.
Statements are static documents. To show your customers a list of transactions within your user interface, use the Transactions API. You may also choose to embed the activity component from our white label UI suite into your app, to provide a highly optimized experience with minimal investment.
Unit provides white-labeled HTML based account statements, supporting all browsers, devices and standard screen resolutions, and eliminating any need for custom development work on your side. Customizing the statement is done through the Unit Dashboard (under Org Settings > Branding).
Unit supports all font types but recommends using *.WOFF for best results
Statements are also available as a pdf, and support both English and Spanish.
- Statements are generated at the start of every month.
- A statement will be created even if an account had no activity during a certain month.
- If an account is created within a given month, a statement for that particular month will be produced only if the account creation occurs before the respective bank's end-of-day time on the final day of that month. To illustrate, if the bank's daily cut-off is 7:00 pm (EST) and the account was created on July 31, 2023, at 7:05 pm (EST), no statement will be generated for the account for the month of July.
- Transactions not completed before the bank's end-of-day time on the final day of the month will be featured in the subsequent month's statement. To illustrate, if the bank's end-of-day time is 4:00 pm (EST) and a transaction takes place on 07/31/23 at 4:05 pm (EST, the transaction won't be included in the account's July statement, but only in the August statement.
- If an account is closed during a certain month, a statement for that period would be created.