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 Name | Frequency | Can Apply Variable |
---|---|---|
BACS in | Immediately | Yes |
BACS out | Immediately | Yes |
CHAPS in | Immediately | Yes |
CHAPS out | Immediately | Yes |
Faster Payments in | Immediately | Yes |
Faster Payments out | Immediately | Yes |
Interledger in | Immediately | Yes |
Interledger out | Immediately | Yes |
SEPA in | Immediately | Yes |
SEPA out | Immediately | Yes |
SEPA instant in | Immediately | Yes |
SEPA instant out | Immediately | Yes |
SWIFT in | Immediately | Yes |
SWIFT out | Immediately | Yes |
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 Name | Frequency |
---|---|
BACS internal transfer | Immediately |
CHAPS internal transfer | Immediately |
Faster Payments internal transfer | Immediately |
Interledger internal transfer | Immediately |
SEPA internal transfer | Immediately |
SEPA instant internal transfer | Immediately |
SWIFT internal transfer | Immediately |
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.
Updated 15 days ago