Here is the simple formula to calculate your monthly fees.
The monthly minimum fee will reduce with every sale each month and reset ever month
Processing fees are calculated as follows:
.0060 multiplied by total processing volume.
$0.10 per transaction multiplied by total transactions ( approved and declined )
$50.00 monthly minimum
Example
.0060 * $1000.00 = $6.00
$0.10 * 10 transactions = $1.00
$50.00 monthly min – $6.00 – $1.00 = $43.00 new monthly minimum.
Now your fees are broken down in 3 parts.
Discount rate fees = $6.00
Per transaction fee = $1.00
New monthly Min fee = $43.00
Total invoice will be $50.00
The invoices can be found by Login to Bankful https://paybybankful.com/ with the assigned username and password.
In the account menu, found on the upper right hand corner of the portal, click on billing.
Bankful will bill your monthly fees on the 1st of each month, for the previous months of service.
Please note, if you close your account, this must be done in writing from the email address on file for the gateway account.
If the account is closed after the 7th of the month, a full month of service will be billed. You can send a copy of the debit to [email protected] to have a partial pro-rated refund for the days after the closure date.
