A fee is a fixed price charged for a specific service. Fees are applied in a variety of ways such as costs, charges, commissions, and penalties. Fees are most commonly found in heavily transactional services.
Before creating a Payment using Plastiq Connect, you must create a Payment Intent. A Payment Intent is useful in capturing associated fees that might be applied to a Payment. A Payment Fee manifests itself in the form of a
fees object in a POST Payment Intent response containing an array of
fees applicable to the prospective Payment.
There are a finite set of
fees that might apply to a Payment. Currently, flat dollar fees and percentage-based fees are supported by Plastiq Connect:
- Flat dollar fees are fixed dollar amounts assessed on top of a
- Percentage-based fees are assessed as a fixed percentage of the
targetAmountand added to the total amount charged for the transaction
targetAmount is also referred to as the principal or the payout, the amount of money the Payer has specified for payout to a Recipient.
Below you can find a list of all fee types along with a brief description and corresponding cost structures:
A fee for processing a card payment
*Fee can be offset by credit card rewards, early pay discounts and may be tax deductible.
Debit (Regulated): 1% of payout
A fee for sending a wire Payment to a domestic Recipient (US/CA only)
$5 per transaction
A fee for sending a USD or CAD-denominated wire payment to a Recipient in another country
$39 per transaction
A fee for processing a Payment where the Payment Method and Recipient are located in different countries (US/CA only)
1% of payout
A fee for expediting a payment's delivery
0.5% of payout
A fee for handling an expedited payment
$10 per transaction
A fee for shipping an expedited check payment with FedEx
$24.99 per transaction
Updated 2 months ago