Article Details
| Id: | 18153 |
| Product: | finPOWER Connect |
| Type: | NEW |
| Version: | 3.04.00 |
| Opened: | 05/05/2021 |
| Closed: | 06/05/2021 |
| Released: | 30/06/2021 |
| Job: | J026524 |
 High Importance |
|
 Breaking Change |
|
Revolving Credit Loan Account; Minimum Payment not processed as expected
The Minimum Payment for a Revolving Credit Loan Account is calculated as expected, but when processed the Minimum Payment Transaction has a different value.
This can occur under the following scenario:
- Minimum Payment Basis is
- Percent of Balance, Higher or Instalment
- A Direct Debit has not yet been processed
- This will be shown in the schedule as "Direct Debit Payment(s) awaiting processing"
- Or another Transaction also being processed is due to be paid by Direct Debit
- The Element is "Due Immediately" and "Direct Debit immediately"
- It is dated the same day as the Statement
For example, consider this scenario. A Standard Transaction for a $10.00 Fee is Due and Direct Debited Immediately and processed on the same day as the Statement is generated (which calculates the Minimum Payment). When the Minimum Payment is calculated the Fee has been charged, but the Direct Debit Payment for the Fee has not been created. Therefore, the balance the Minimum Payment is calculated upon is $10.00 higher than shown in the schedule (which includes the Payment).