A Payment is the transfer of funds from a source checking or savings bank account to a
destination credit card, auto loan, mortgage, student loan, and more.
All Payments are processed electronically between the source and
destination, and take 2-3 business days depending on the
receiving financial institution.
This fee type will deduct a flat fee from the amount received by the destination Account.
Example: If a $10.00 Payment is created with a total fee of $2.00, then the resulting amount received by the destination Account will be $8.00. This means that you make total of $2.00 from the Payment. However, the Method fee for this Payment will still be included in your monthly invoice.
Received by destination = Payment - Total fee $8.00 = $10.00 - $2.00
markup
This fee type will deduct a fee on top of Method's per-Payment fee from the amount received by the destination Account.
Example: If a $10.00 Payment is created with a markup fee of $2.00 and your Method fee is $1.00, then the resulting amount received by the destination Account will be $7.00 (Amount - Markup Fee - Method Fee). This means that you make $2.00 from the Payment. Additionally, the Method fee has already been covered by the source Account, and this completed Payment will not be included in your monthly invoice.
Received by destination = Payment - Markup fee - Method fee $7.00 = $10.00 - $2.00 - $1.00
