Which payment systems support a fixed percentage of the transaction amount?

A fixed percentage fee based on the transaction amount is supported by payment systems such as:

  • AdvCash;
  • Mastercard;
  • Visa;
  • NixMoney.

For example, if you want to send EUR using the NixMoney E-wallet payment system, there will be a fixed 1% transaction fee. The specified fee (fee/percentage) will be deducted from the amount to be sent.

 

Note: The peculiarity of this type of fee is the restriction of the minimum and maximum amount. If the fee amount is less than the minimum value or exceeds the maximum value, the fee will be charged as a fixed value instead of a calculated percentage of the transaction.

 

Toggle off “Display amount with fee” — shows the payment amount without the fee included.

The amount specified in the withdrawal form, 1000 EUR, will be reduced by the fixed 1% percentage fee. After sending the funds, you will receive 990 EUR to your account.


Toggle on “Display amount with fee” — shows the payment amount with the fee included.

If you desire to receive an exact amount of 1000 EUR to your account, you need to deduct a 1% charge from the sending amount. Therefore, to receive 1000 EUR, you will have to send 1010.11 EUR.

Fee calculation formula: 1010.11 * 0.01 = 10.11 — this is a 1% fee that will be deducted from the payment amount to deposit 1000 EUR.

Note: If you calculate the fee in this way: 1000 * 0.01 = 10, then you might assume that you need to send 1010 EUR. But the payment provider charges the fee from the received amount. Therefore, you will not receive the desired amount. Instead, 999.89 EUR will be credited to your account.

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