Version: 1.0

Accounts

Get authorized access to consumer account details and create offerings to improve the financial services experience.
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Overview

Using the Accounts API gives financial technology companies and data intermediaries authorized access to U.S. Bank customer account details.

Features

View account details for multiple account types when you use our Accounts API:

  • Checking
  • Savings
  • Credit card
  • Line of credit
  • Loans
  • Brokerage/IRA

Details include items such as:

  • Account type
  • Account description
  • Balances
  • Interest rate
  • Loan details
  • Holdings

Workflow

Accounts - workflow

Example use cases

Interact with authorized consumer data through our Accounts API to provide value-added services and products that many enrich their financial services experience.

Account access verification

Account ownership and verification is critical for data intermediaries and financial technology companies that wish to use authorized consumer data. Verification means financial aggregators have access to accounts. It does not verify the identity of the consumer. See the Data Toolbox API for additional account and identity services.

  • Get a list of authorized consumer accounts.
  • Obtain the account identifier for each.
  • Retrieve individual account details like the current balance and when the account was opened.

Payment risk modeling

Help businesses understand and define a consumer risk score using consumer-authorized payment-level data. Use the score to reduce fees, prevent fraud and improve customer experience.

  • Get a list of authorized consumer accounts and obtain the account identifier for each one.
  • Access the current account balance and determine the likelihood of whether a payment will clear successfully.

Financial health indicators

See a 360-degree snapshot of authorized consumer accounts and financial health indicators. Our Accounts API gives authorized access to consumer accounts including checking, savings and credit lines. You can also help consumers maximize their accounts with personalized advice and suggestions.

How to use the Accounts API with a consumer savings account

  1. Determine if a savings account is present.
  2. Get the current balance of the savings account.
  3. Compare the savings balance against consumer income to see if it meets the average three-month benchmark for healthy liquid assets.
  4. Make a recommendation to increase the balance if the consumer has less than three months of income in their savings account.

Loan payoff calculator and payment alerts

Enrich the customer experience with suggestions and alerts to help them make financial decisions. A calculator tool can provide loan details to help customers stay on top of payments.

  • Provide alerts for the next payment amount and due date.
  • Calculate payment frequency, interest rate and terms.
  • Calculate an early payoff and show consumers their interest savings.
  • Send email or SMS-based alerts to introduce new loan opportunities like refinancing a mortgage or getting a new car loan.

Restrictions

The developer will not sell, exploit, commercialize, or otherwise reveal, account information (or its derivatives) except as explicitly authorized by the customer.