Transaction fees

This document outlines transaction fees based on transaction type and payment scheme. All fees listed below are charged immediately upon transaction approval.

Fees by Transaction Type

Fee NameFrequencyCan Apply Variable
BACS inImmediatelyYes
BACS outImmediatelyYes
CHAPS inImmediatelyYes
CHAPS outImmediatelyYes
Faster Payments inImmediatelyYes
Faster Payments outImmediatelyYes
Interledger inImmediatelyYes
Interledger outImmediatelyYes
SEPA inImmediatelyYes
SEPA outImmediatelyYes
SEPA instant inImmediatelyYes
SEPA instant outImmediatelyYes
SWIFT inImmediatelyYes
SWIFT outImmediatelyYes

Note: Exchange rate is calculated based on the applied exchange rate.


Internal Transfer Fees

Internal transfers refer to transactions between a client's accounts. Clients can define fees different from standard outbound transactions.

Fee NameFrequency
BACS internal transferImmediately
CHAPS internal transferImmediately
Faster Payments internal transferImmediately
Interledger internal transferImmediately
SEPA internal transferImmediately
SEPA instant internal transferImmediately
SWIFT internal transferImmediately
Decline fee*Immediately

*Fees applied to declined transactions.


Additional Information:

We have two fields related to transaction fees:

  • txFee: This field is displayed to the end user to indicate the transaction fee. Its value is derived from the billing model applied to the specific transaction.
  • billingAmount: When we actually charge the end user, we initiate a transaction from the user's account to the Billing Fee Collection account. The charge amount uses the value in the billingAmount field, also derived from the billing model associated with the user's transaction.

In most cases, the txFee and billingAmount values will match, meaning users are charged exactly what they saw in the user interface at the time of payment. The distinction between these two fields lies primarily in their use cases: txFee is informational for the user's reference, while billingAmount represents the actual monetary value deducted during the fee charging process.