Documentation

Within the first calendar days of each month, we will aggregate all interest accrued the previous month on each bank account on your platform. Interest accrued for your users will be paid out directly to your customers' bank accounts, and interest spread accrued for your platform will be paid out to your interest revenue account. Payouts for accrued interest spreads will have related_product_id set to the IDs of customers' bank accounts for which interest is accrued. If payout amounts are positive, payout types will be credit. Otherwise, payout types will be debit.

Since interest accruals are truncated at the 6th decimal digit, monthly aggregated interest will use fractional currency units. We will truncate payout amounts to the smallest unit and carry over fractional amounts to next payout period(s). For example, payout amounts in USD will be truncated to cents and fractional cents will be carried over. You will receive interest.payout.completed webhook events when payouts are credited to or debited from your accounts.

If an account is closed before a monthly payout, interest accrued but not paid will be forfeited.

Simulate Interest Payouts

Instead of waiting for monthly payouts to test your integration with our interest system, you can simulate on-demand interest payouts in Sandbox.

curl https://api.column.com/simulate/interests/payouts \
  -XPOST \
  -u :<YOUR API KEY> \
  -d amount="5000" \
  -d currency_code="USD" \
  -d product_id="bacc_xxx"

Example

Let's use the three bank accounts in the Interest Accrual Example and assume we are paying interest out for the month of May 2025 (31 days).

Interest payouts to customers' bank accounts will be as follows:

Interest payouts to your interest revenue account (ID: bacc_revenue) will be as follows. debit payouts are claw backs from your interest revenue account: