This feature is currently in beta and subject to change.
The interest service feature is available with select partner banks.
To learn more about the Beta program for this feature or the interest service, contact your Marqeta Customer Success representative.
account_rate and a compounded effective_rate, also known as the annual percentage yield (APY) or annual equivalent rate (AER).
To understand how the Marqeta platform derives the effective rate and applies interest to balances for your program, contact your Marqeta representative.
A new interest tier rate takes effect on its effective date, which must be later than today.
The earliest date you can set is tomorrow (T+1), so a rate you create today cannot apply before tomorrow.
The Marqeta platform calculates a tier’s current rate from the most recent rate whose effective date has already passed.
You can enroll a single account, or a batch of accounts, in an interest tier.
Enrolling an account applies the tier’s rate to the account’s balance.
When an enrollment or rate changes, the Interest Accounts service sends a webhook notification so that your system can reflect the change.
Use the /v3/interestaccounts endpoints to configure interest tiers and rates, and to enroll accounts in an interest tier.