Bill4Time Payments - Funds & Fees

Transaction Fees Overview

• Credit Card Payments: All credit card transactions, regardless of card type (including international cards), incur a flat 2.9% transaction fee. Additional small network fees may apply to specific payments.
• eCheck Payments: eCheck transactions are charged at 1% per payment.

If you’re receiving better rates from another processor, we offer a free Rate Comparison to help determine if Bill4Time Payments can provide more competitive rates.

How Are Fees Charged?

Transaction fees for both credit cards and eChecks are deducted separately from the payment amount.

• Payment Amount: Deposited in full to your bank account.
• Transaction Fees: Debited as a separate transaction.

Firms are set up on a monthly fee schedule, meaning all fees are collected and debited as a batch once per month. If you prefer a different fee collection schedule, please contact our support team.

Important: Fees may be debited before the corresponding payment appears in your account.

Examples:

• Credit Card Payment:
  • $100 payment is deposited in full.
  • $2.90 transaction fee is debited separately.
• eCheck Payment:
  • $100 payment is deposited in full.
  • $1 transaction fee is debited separately.

How and When Will I Receive My Funds?

• Credit Card Transactions: Deposited to your bank account within 2–3 business days, excluding weekends and bank holidays.
• eCheck Transactions: Deposited within 3–5 business days, excluding weekends and bank holidays.

Daily batch deposits will be made for credit card transactions, while eCheck transactions are deposited individually.

If you need a detailed breakdown of deposits or a report on specific payments included in a deposit, contact us at support@bill4time.com.

Network Fees

What Are Network Fees?
Network fees (or card brand fees) are charges from Visa, Mastercard, Discover, AMEX, and other card brands for using their networks. These fees may not apply to every transaction and are passed directly to you without markup.

Fee Timing and Reporting:

• Network fees incurred in the previous month are aggregated and debited from your default operating account around the 15th of the following month.
• A Network Fee Report is available to provide a historical ledger of all fees incurred.

Network Fee Report Details:

• Includes data from your firm’s Bill4Time Payments history.
• Fees for the prior month are available starting on the 15th of the current month.
• You can select multiple months when generating the report.
• The requester is auto-included as a recipient, with the option to add additional recipients.

Processing Time: Compliance will process your report request within 3 business days, and a confirmation email will be sent upon submission.

If you have further questions, reach out to support@bill4time.com.