About online payment fees
Each online payments is subject to a small fee. This fee pays for the many companies and banks that have a role in processing a transaction. Bank account payments generally incur a lower fee than credit/debit card payments.
Passing along the fees
You can choose to pass the fees along to the residents making the payments, or allow the fee to be deducted from the amount your community receives. The choice will affect the final amount your community receives.
Let's say you intend to charge $100 for a particular online payment. If you pass the fees on to your residents, then you'll receive a full $100 from each payment, but your residents will end up paying somewhere around $104 (if they use a credit card). Alternatively, if you choose not to pass on the fees, your residents will pay $100 and you'll receive somewhere around $96.
There's one small caveat when it comes to passing along the fees. Some countries have split pricing, where international cards have higher fees than domestic or regional cards. Because it's not possible to determine a card's fees before a payment is made, we'll always pass the highest fee structure on to the resident. This may result in the community receiving slightly more than the amount they intended, if the card's fees turn out to be lower.
Credit/debit card fees
The following table explains the fees for payments made with credit/debit cards, based on the location of your community.
|Australia|| Domestic cards: 2.25% + $1.00 AUD
International cards: 3.4% + $1.00 AUD
|Canada||3.4% + $1.00 CAD|
|Singapore|| 3.9% + $1.20 SGD
|Spain||European cards: 1.9% + €0.65 EUR
Non-European cards: 3.4% + €0.65 EUR
|United Kingdom|| European cards: 1.9% + 60p GBP
Non-European cards: 3.4% + 60p GBP
|United States|| 3.4% + $0.80 USD
Bank account fees
Although bank account payments are much slower than credit/debit card payments, they incur lower fees.
To be clear, these fees are very rare. The following fees cannot be passed on to residents. When these fees occur, they'll be deducted from your pending balance. If your pending balance dips below zero, we'll debit your community's bank account to recover the funds.
|Australia||Chargeback: $25 AUD|
|Canada||Chargeback: $15 CAD|
|Singapore||Chargeback: $15 SGD|
|Spain||Chargeback: €25 EUR|
|United Kingdom||Chargeback: £15 GBP|
|United States|| Chargeback: $15 USD
Failed bank account payment: $4 USD