BILL4TIME PAYMENTS TRANSACTION FEES
All credit card payments, regardless of card type including international cards, incur a flat 2.8% transaction fee, however some additional small network fees may apply to individual payments.
eCheck pricing is 1%.
If you believe you are receiving better rates from another processor we are happy to perform a free Rate Comparison at no additional cost to help you assess if Bill4Time Payments can provide lower rates than what you are currently receiving.
HOW WILL I BE CHARGED FOR THESE FEES?
Transaction fees for credit cards and eCheck fees are deducted on a per payment basis, separate from the payment itself. You will receive the full payment amount in your bank account and the transaction fees will be reflected as a separate transaction debit.
Most firms will be set up on a monthly schedule for fees, meaning all fees will be collected and then sent in a batch once a month. If you are wanting a different cadence please reach out to the support team.
We are very flexible and can send the fee batch on a weekly or biweekly basis instead or even after each transaction - please reach out to our Customer Success team to request this update.
Please note: Fees may be debited from your account before your successful payment appears in your account.
Credit Card Payment Example:
$100 payment will be deposited in full
$2.80 will be debited for transaction fees separately
eCheck Payment Example:
$100 eCheck payment will be deposited in full
$1 eCheck fee will be debited separately
HOW AND WHEN WILL I RECEIVE MY FUNDS?
Depending on the type and number of ePayments you've received in a day, your firm may receive multiple deposits. You will receive daily batch deposits for credit card transactions received, and individual deposits for eCheck transactions received each day.
- Credit card payments will be deposited to your bank in 2-3 business days - excluding bank holidays and weekends.
- eCheck payments will be deposited in 3-5 business days - excluding bank holidays and weekends.
If you would like to see a breakdown of the ePayment deposits you received or more specifically which payments were part of a deposit you received - please reach out to firstname.lastname@example.org for assistance.
WHAT ARE NETWORK FEES?
Network Fee could refer to any usage, assessment, or other fee that is imposed by the Network or Bank, as issuer of a Credit Card, for the use of or execution of a transaction on the network. These fees are used to cover the Network or Banks processing services.
Any network fees incurred for the previous month will be aggregated and debited from the default operating account on or around the 15th of the following month.
NETWORK FEE REPORT:
Network Fees are fees charged by Visa, MC, Discover, AMEX, etc. (card brands) as the cost of using their networks for processing. Network fees are additional fees that may be applied to a credit card transaction by those entities and are passed through directly to the Firm. Any network fees incurred for the previous month will be aggregated and debited from the default operating account on or around the 15th of the following month.
The Network Fee Report will provide an historical ledger of all network fees incurred through Bill4Time Payments within the time period selected.
- This report provides data from your firm's inception of utilizing Bill4Time Payments
- Network fees are available on the 15th of the current month for data for the previous month
- Months are selected individually - multiple months can be selected
- The requester is auto included as a recipient
- Additional recipients are able to be added - but are not required
Upon completing the request and clicking the blue Send button - you will receive a confirmation email.
PROCESSING TIME: Your request will be processed by our compliance team via email in up to 3 business days.