The example below represents the flow for collecting a FX fee for an internal transfer:

1. The customer makes an internal transfer from a payment account in EUR to a payment account in GBP.

2. You execute a fee transfer from the payment account of the end-customer to a Fee Collection Account created by Paynetics. You won’t have access to make any type of transfers from the Fee Collection Account. When you are creating the fee transfer request you must:

   1. Specify the balance token of the Fee Collection Account, it will be provided by Paynetics.

   2. Specify the type of the transfer as Fee transfer by setting the code field to ST013.  

   3. Specify the transfer for which you are collecting the fee by setting the token of the transaction you are collecting the fee for (the one from point 1) in the link attribute of the request. In case you are collecting a fee not related to a particular transaction (e.g. monthly subscription fee) you must not add this attribute in the request.

   4. Specify the fee type that you are collecting in the reference fee. In this case “FX Fee”

Example fee transfer request

{
   "amount": 1.23,
   "currency": "EUR", 
   "code": "ST01", The code specifying the transfer as Fee transfer. 
   "link": "520bec3b-8051-4a2b-928c-81d32b6bfa41",  The token of the transaction that you are collecting the fee for. The transation from poin 1 in the example. 
   "reference": "FX Fee", - The type of the fee collected
   "debtor": {
      "balance": "444f4f2c-6a05-43bb-93ab-7ab76ce5658c", - The balance token of the end-customer account that you are collecting the fee from 
   },
   "creditor": {
      "balance": "444f4f2c-6a05-43bb-93ab-7ab76ce5658c", - The balance token of the Fee account that Paynetics has provided for you
   }
}

Rolling out custom fees

Populating the Link and Reference fields

Transaction fees

If you are collecting a transaction fee, you must populate:

Link field → with the ID of the transaction they are collecting a fee on

Reference field → with the type of fee being collected

Account fees

If you are collecting an account fee, you must populate:

Link field → with the ID of the account they are collecting a fee on

Reference field → with the type of fee being collected

Fees approval

You must submit all custom fees that you plan to collect from end-customers. These fees must be reviewed and approved by Paynetics before launching them.

All fees collected must be present in your T&C.

As a reminder, all fees, must abide by the following:

• Fair Billing Practices: Ensure that fees are collected in a transparent and fair manner, in accordance with consumer protection laws.

• Disclosure Requirements: Clearly disclose all fees in your T&C and charges to customers before they agree to the service.

• Financial Statements: Ensure that all fees are accurately reflected in financial statements.

• Non-Discrimination: Ensure that fee structures do not discriminate against any group of customers.

• Proper Taxation: Collect and remit applicable taxes on fees collected from customers. Ensure compliance with tax reporting requirements for all jurisdictions in which you operate.

Fees testing

You must test the fee collection implementation extensively. Once you have done this you must notify Paynetics. You must provide information on the test that you have passed and the payment accounts that you have used for the tests. Paynetics will review your tests and provide greenlight for a launch date.

Fee refunds

Refunding fees is a manual process, where you need to contact our Customer Support who will open a Jira ticket for you, which will be addressed by our internal teams. Within the Jira ticket you need to provide:

• The ID of the fee transaction

• The reason for the refund

• If the refund is full or partial. For partial refunds, you need to specify the amount.