Fees
Clients, especially the ones who use the Nium Platform to embed the payment oriented services from the Nium Platform in their products delivered to the end-customers, have two ways to charge fees for the various kinds of services offered.
Predefined fees
Nium Platform comes packed with a list of predefined fees options, and clients can simply work with the program contact from Nium to configure the fees in their programs as part of Client setup. These fees will be automatically levied by system to the Customer as per the logic defined. Please refer to the below table for the predefined list of fees. Please reach out to your NIUM contact 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.
| Fee Name | Description |
|---|---|
| ACCOUNT_OPENING_FEE | One-time account opening fee charged on Customer creation. |
| ACCOUNT_MAINTENANCE_FEE | Monthly fee charged for account maintenance at the start of the month for the current month. |
| ACCOUNT_INACTIVE_FEE | Monthly fee charged for inactive accounts. |
| PLASTIC_FEE | One-time physical card issuance fee. |
| REPLACEMENT_FEE | One-time physical card replacement fee. |
| VIR_CARD_FEE | One-time virtual card issuance fee. |
| ADDON_CARD_FEE | Per transaction fee charged for each ADD_ON card issuance. |
| TRANSACTION_MARKUP | NIUM charges markup on each transaction. Per transaction fee charged if transaction currency is not the same as auth currency |
| ATM_FEE | Per transaction fee charged on an ATM transaction. |
| INTERNATIONAL_ATM_FEE | Per transaction fee charged on an international ATM usage. |
| ATM_DECLINE_FEE | Per transaction fee charged on an ATM transaction decline. |
| NON_ATM_DECLINE_FEE | Per transaction fee charged on a non-ATM transaction decline (MCC is not equal to 6011). |
| ECOM_FEE | Per transaction fee charged on e-commerce/online transactions. |
| P2P_FEE | Fee charged per fund transfer between two Customers under the same Client program. |
| WALLET_REFUND_FEE | Per transaction fee charged on wallet refund. |
| WALLET_CREDIT_THIRD_PARTY_FEE | Per pay-in transaction fee charged when the Customer (account holder) is not the remitter |
| WALLET_CREDIT_OFFLINE_FEE | Per pay-in transaction fee charged when the Customer (account holder) is the remitter |
| WALLET_CREDIT_CARD_FEE | Fee charged for crediting funds into the wallet using card. |
| REMIT_BANK_FEE | Per transaction fee charged on Remittance transaction when the payoutMethod = LOCAL. |
| REMIT_BANK_FEE_SWIFT | Per transaction fee charged on Remittance transaction when the payout type is SWIFT and swiftFeeType is SHA. |
| REMIT_BANK_FEE_SWIFT_OUR | Per transaction fee charged on Remittance transaction when the payout type is SWIFT and swiftFeeType is OUR. |
| REMIT_WALLET_FEE | Per transaction fee charged on Remittance transaction when the payout type is WALLET. |
| REMIT_CARD_FEE | Per transaction fee charged on Remittance transaction when the payout type is CARD. |
| REMIT_PROXY_FEE | Per transaction fee charged on Remittance transaction when the payout type is PROXY. |
| FX_MARKUP | Forex markup applied on exchange rate used for the below transactions:- Balance Transfer within wallet - Cross-currency wallet pre-funding - Remittance Transactions |
| FX_MARKUP_AUTO_SWEEP | Forex markup applied on exchange rate used for auto sweep transactions. |
Custom fee
At times, clients might find it convenient and flexible to charge a fee that is not already part of the list of standard pre-defined 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. System will handle the fee processing (in terms of accounting) in a similar manner to the way it handles the predefined fee. The fees thus collected can later be adjusted as part of the client's regular invoicing.
NOTE
Please consult with the Nium legal & compliance team and receive approval prior to charging any customer fees. Please do not use this API to charge fees without explicit approval from Nium. Please reach out to your Customer Success, Sales and Solution Engineering teams at Nium for further guidance. Any fees charged must be disclosed in the required customer terms and conditions as determined by Nium legal & compliance.
Updated 13 days ago