Fees

Overview

Clients, especially those who use the Nium One platform to embed the payment-oriented services from Nium into their products delivered to the end customers, have two ways to charge fees for the different kinds of services offered.

The platform also charges some account and transaction-specific fees. Once the fee structure is mutually accepted by Nium and the clients, then these are configured at the client level.

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IMPORTANT

Check with the Nium legal and compliance team and get approval before charging any customer fees. Don't use Nium's Charge Fee API without explicit approval from Nium. Reach out to your account manager, or solution engineering teams at Nium for additional guidance. Any fees charged need to be disclosed in the required customer terms and conditions as determined by the Nium legal and compliance team.

Predefined fees

Clients can work with their program representatives to configure their fees as part of their account setup. The system automatically levies the fees to the customer, according to the defined logic. Refer to the table below for the predefined list of fees. Reach out to Nium customer support to have any of these fees defined for you. The list of predefined fees is updated from time to time as new features and capabilities are added to the platform.

The following are the types of fees and their definitions:

Fee NameDescription
ACCOUNT_OPENING_FEEA one-time account opening fee that's charged when the customer is created.
ACCOUNT_MAINTENANCE_FEEA monthly fee that's charged for account maintenance at the start of the month for the present month.
ACCOUNT_INACTIVE_FEEA monthly fee that's charged for inactive accounts.
PLASTIC_FEEA one-time physical card issuance fee.
REPLACEMENT_FEEA one-time physical card replacement fee.
VIR_CARD_FEEA one-time virtual card issuance fee.
ADDON_CARD_FEEA per-transaction fee that's charged for each ADD_ON card issuance.
TRANSACTION_MARKUPNium charges a markup fee on each transaction if the transaction currency isn't the same as the authorization currency.
ATM_FEEA per-transaction fee that's charged on an ATM transaction.
INTERNATIONAL_ATM_FEEA per-transaction fee that's charged on international ATM usage.
ATM_DECLINE_FEEA per-transaction fee that's charged on an ATM transaction decline.
NON_ATM_DECLINE_FEEA per-transaction fee that's charged on a non-ATM transaction decline such as when a merchant category code isn't equal to 6011.
ECOM_FEEA per-transaction fee that's charged on e-commerce and online transactions.
P2P_FEEA fee that's charged per fund transfer between two customers under the same or a different client program.
POS_FEEA per-transaction fee that's charged on a point-of-sale transaction.
WALLET_REFUND_FEEA per-transaction fee that's charged on a wallet refund.
WALLET_CREDIT_THIRD_PARTY_FEEA per-payin-transaction fee that's charged when the customer—the account holder—isn't the remitter.
WALLET_CREDIT_OFFLINE_FEEA per-payin-transaction fee that's charged when the customer—the account holder—is the remitter.
WALLET_CREDIT_CARD_FEEA fee that's charged for crediting funds into the wallet using a card.
REMIT_BANK_FEEA per-transaction fee that's charged on a remittance transaction when payoutMethod = LOCAL.
REMIT_BANK_FEE_SWIFTA per-transaction fee that's charged on a remittance transaction when payout Type = SWIFT and swiftFeeType = SHA.
REMIT_BANK_FEE_SWIFT_OURA per-transaction fee that's charged on a remittance transaction when payoutType = SWIFT and swiftFeeType = OUR.
REMIT_WALLET_FEEA per-transaction fee that's charged on a remittance transaction when payoutType = WALLET.
REMIT_CARD_FEEA per-transaction fee that's charged on a remittance transaction when payoutType = CARD.
REMIT_PROXY_FEEA per-transaction fee that's charged on a remittance transaction when payoutType = PROXY.
FX_MARKUPA foreign exchange (FX) markup fee that's applied on the exchange rate used for the below transactions:- Balance transfer within a wallet
  • Cross-currency wallet prefunding
  • Remittance transactions
  • FX_MARKUP_AUTO_SWEEPAn FX markup fee that's applied to the exchange rate used for automatic sweep transactions.
    FX_MARKUP_SETTLE_IMMEDIATE An FX markup fee that's applied to the exchange rate used for immediate settled conversions, when conversionSchedule = immediate
    FX_MARKUP_SETTLE_ENDOFDAY An FX markup fee that's applied to the exchange rate used for conversions settled by 5pm UTC on the same day, when conversionSchedule = end_of_day
    FX_MARKUP_SETTLE_NEXTDAYAn FX markup fee that's applied to the exchange rate used for conversions settled by 5pm UTC on the next business day, when conversionSchedule = next_day
    FX_MARKUP_SETTLE_2DAYSAn FX markup fee that's applied to the exchange rate used for conversions settled by 5pm UTC two business days after initiating, when conversionSchedule = 2_days
    FX_MARKUP_LOCK_5MINSAn FX markup fee that's applied to the exchange rate to lock it for 5 mins, when lockPeriod = 5_mins
    FX_MARKUP_LOCK_15MINSAn FX markup fee that's applied to the exchange rate to lock it for 5 mins, when lockPeriod = 15_mins
    FX_MARKUP_LOCK_1HOURAn FX markup fee that's applied to the exchange rate to lock it for 1 hour, when lockPeriod = 1_hour
    FX_MARKUP_LOCK_4HOURSAn FX markup fee that's applied to the exchange rate to lock it for 1 hour, when lockPeriod = 4_hours
    FX_MARKUP_LOCK_8HOURSAn FX markup fee that's applied to the exchange rate to lock it for 1 hour, when lockPeriod = 8_hours
    FX_MARKUP_LOCK_24HOURSAn FX markup fee that's applied to the exchange rate to lock it for 1 hour, when lockPeriod = 24_hours

    Custom fee

    At times, clients might find it convenient and flexible to charge a fee that's not already a part of the list of standard predefined fees. For instance, clients could use this approach to charge a monthly subscription fee or to charge a fee based on the inward payment option used. Clients can use the Charge Fee API to charge the custom fee to the account holder's wallet in any of the currencies enabled in the account holder's wallet. The system handles the fee processing, in terms of accounting, in the same way it handles the predefined fee. The collected fees can later be adjusted as part of the client's regular invoicing.

    Customer specific fee

    Fees are generally configured during the Client set up process in NIUM. Some Clients might want to offer differentiated fees to some of their customers as per their business requirement. NIUM offers the following APIs for Clients to manage their customer specific fees:

    Add Customer Fees allows to configure a fee for a particular customer.

    Update Customer Fees allows to update any parameter of an already configured customer specific fees.

    Get Customer Fees allows to retrieve all fees configured for a customer.

    A new label feeSetupLevel has been introduced for the Fee_Debit transaction type. The possible values of label are CLIENT and CUSTOMER. If the fee was levied basis fee defined during fees set up process for the Client, then the value will be CLIENT. If the fee was levied basis fee defined at the Customer level, then the value will be CUSTOMER.

    Fee types which are applicable for configuring at the customer level are mentioned below:

    ProductFee Override for a CustomerFee Type
    PayoutAllowedREMIT_BANK_FEE, REMIT_BANK_FEE_SWIFT, REMIT_BANK_FEE_SWIFT_OUR, REMIT_CARD_FEE, REMIT_PROXY_FEE, REMIT_WALLET_FEE
    PayInAllowedWALLET_CREDIT_CARD_FEE, WALLET_CREDIT_OFFLINE_FEE, WALLET_CREDIT_THIRD_PARTY_FEE, WALLET CREDIT DIRECT DEBIT FEE
    FXAllowedFX_MARKUP, FX_MARKUP_AUTO_SWEEP, FX_MARKUP_AUTO_SWEEP_EOD, FX_MARKUP_AUTO_SWEEP_RECEIVE, FX MARKUP LOCKANDHOLD 1,FX_MARKUP_LOCK_5MINS, FX_MARKUP_LOCK_15MINS, FX_MARKUP_LOCK_1HOUR, FX_MARKUP_LOCK_4HOURS, FX_MARKUP_LOCK_8HOURS, FX_MARKUP_LOCK_24HOURS, FX_MARKUP_SETTLE_IMMEDIATE, FX MARKUP SETTLE 2DAYS, FX MARKUP SETTLE NEXTDAY, FX MARKUP SETTLE ENDOFDAY, FX_MARKUP_CANCELLATION, FX_MARKUP_REVERSAL
    IssuanceNot Allowed
    OthersAllowedP2P_FEE, WALLET_REFUND_FEE,TRANSACTION_MARKUP,

    This feature is not enabled by default. Check with legal and compliance to get approval for enabling this feature during the set up process in NIUM.

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    Note

    Disclosure :In order to comply with any disclosure requirements under applicable law, you need to ensure that a higher fee is not charged than what is set forth in the latest disclosures received by your customer.

    Notice period for fee variations: Generally, 30 days notice should be provided to your customers whenever there is a fee variation. For EU, 60 days’ notice is required for micro/consumer end customers.
    Frequency of fee variations: Generally, fee changes should not be done so frequently as to cause the customer a bad outcome.

    Fee markups: Generally, prices charged to the end customer must be of fair value.

    This feature can be offered only to the corporate type of customers.

    This feature can’t be offered to the Clients in the HK and UK regulatory regions.