GETTING STARTED
- Welcome
- Versioning
- Sandbox
- Quickstart
- OpenAPI Spec
DELIVER
MONITOR
- Overview
- Search & Filter
- Reporting
- Money Movement
- Manage Resources
Account Statements
Customize what information displays on your user’s bank account statements.
Personalize the bank account statements of your end users by using two optional fields:
There are two statement_display_name fields in the API request body:
-
one nested under the “source” object
-
one nested under the “destination” object
The purpose of these fields is to help end users understand who is pulling or pushing money to their accounts. You can pass your name, your customer’s name or anything that helps your end users recognize the payment.
-
The
statement_display_namefields accept up to 16 alphanumeric characters (including spaces) for ACH transfers and up to 140 alphanumeric characters for RTP transfers -
For RTP transfers, “Orum” will be appended to the
statement_display_namethat you pass in your request (“Orum-{statement_display_name}”) -
This field maps to “Company Name” in the Nacha file
How does it work?
When determining what information, if any, to pass in each optional field, we recommend asking yourself these two questions:
Statement Display Name under the source object What name do you want to show up on the bank statement of the source (the party being debited) to ensure that they know who pulled money from their account?
Statement Display Name under the destination object What name do you want to show up on the bank statement of the destination (the party being credited) to ensure that they know who pushed money to their account?
Examples
The purpose of this field is to provide information about the reason for a payment. If statement_display_name explains who initiated a debit or credit, the account_statement_descriptor can explain why the transfer was made.
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The account_statement_descriptor field can accept 10 alphanumeric characters for ACH and 140 characters for RTP
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This field is available for ACH, Same Day ACH, and RTP. It is not available for Wires
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This field maps to “Company Entry Description” in the Nacha file
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The Nacha file formats include a Company Entry Description (CED) in the Batch Header record, which intends to describe the purpose or intent of a transaction.
How does it work?
There is one optional account_statement_descriptor field in the API request body, and the value that you pass will appear on the bank account statement of both the source and destination account. When determining what information, if any, to pass we recommend asking yourself this question:
What descriptive information would help the party being debited and the party being credited, understand the reason for the payment?
Example
Example API Request
{
"currency": "USD",
"source": {
"account_reference_id": "string",
"customer_reference_id": "string",
"statement_display_name": "test name 1"
},
"destination": {
"account_reference_id": "string",
"customer_reference_id": "string",
"statement_display_name": "test name 2"
},
"transfer_reference_id": "string",
"amount": 111,
"account_statement_descriptor": "test description"
}