Storable Payments Fees

⚠️This article is applicable to storEDGE customers using Storable Payments to process payments. 

📖 Check out our article Where can I find my Storable Payments data? for information about where to find the payment processing fees you have been charged.

What is the monthly statement billing period?

Fees are charged for the previous calendar month with a few exceptions that are noted in the fee definitions below. 

Fees you will always be charged

You will see the following each month regardless of which fee structure you are using:

  • Transaction Count -The total number of transactions including both successful and failed payment transactions, and credit card authorizations that occur within the reporting period.
    • The reporting period for Card Authorizations is the full month on your billing statement.
    • The reporting period for Payments Discount Fees (for both successful and failed attempts) spans from 12am on the last day of the previous calendar month through 11:59pm of the second to last day of the month you are viewing. This is because these Discount Fees are applied the day after the payment takes place.
  • Per Transaction Fee - The fee you are charged per attempted transaction.
  • Total Transaction Fees - This is calculated by multiplying the Per Transaction Fee by the Transaction Count. 
  • Monthly Fee - The base monthly fee you are charged for payment processing.
  • Total Fees - The sum of all fees on the statement.

Fees that are specific to your fee structure

Some fees are specific to which fee structure you selected at sign-up. Go to the correct section below to see fee details that are relevant to your account depending on your fee structure. 

Flat Rate Fees

  • Sales Volume - The total amount of money processed by Credit Card and ACH during the billing period (this does not include cash/checks/money orders). 
  • Flat Rate - The flat rate percent that you are charged for each transaction included in the billing period as defined above.
  • Total Volume Fees - This is calculated by multiplying Sales Volume by the Flat Rate.

Interchange Plus Fees

  • Visa/MC/Discover Volume - The total amount of money processed using Visa, Mastercard, or Discover. 
  • Discount Rate - The rate charged for each Visa, Mastercard, or Discover transaction included in the billing period.
  • Total Discount Fees - This is calculated by multiplying Visa/MC/Discover Volume by the Discount Rate.
  • AMEX Volume - The total sales processed on AMEX cards during the billing period which is defined in the same way as Visa/MC/Discover Volume above. 
  • Discount Rate (AMEX) - The rate charged for each AMEX transaction included in the billing period.
  • Total Discount Fees (AMEX) -  This is calculated by multiplying AMEX volume Volume by the Discount Rate.
  • Interchange/Card Brand Fees - Interchange is a transactional fee assessed by the card brands (Visa, Mastercard, etc.) and paid to the cardholder's bank. Interchange fees are variable based on a number of factors such as card type, entry method, merchant type, and the data provided with the transaction, such as address.

Fees you may be charged depending on your monthly activity

You may not see all of the fees listed in this section each month. The following fees will only appear on your Fees page if there was applicable activity during the billing period. For example, you will only see fees related to ACH if you processed ACH payments during the reporting period time frame.

Refunds

  • Refund Count - The number of refunded transactions during the billing period.
  • Refund Fee - The fee you are charged per refund. 
  • Total Refund Fees - This is calculated by multiplying the Refund Count by the Refund Fee.

Chargebacks

  • Chargebacks - The number of Chargebacks that occurred during the billing period. 
  • Chargeback Fee - The fee you are charged per chargeback. 
  • Total Chargeback Fees - This is calculated by multiplying Chargebacks by the Chargeback Fee.

ACH

  • ACH Transaction Count - The total number of ACH transactions during the billing period. 
  • ACH Transaction Fee - The fee per ACH transaction.
  • Total ACH Transaction Fees - This is calculated by multiplying the ACH Transaction Count by the ACH Transaction Fee.
  • ACH Return Fee - The fee that is charged when an ACH transaction is rejected by the tenant's bank.
  • ACH Refund Fee - The fee that is charged when an ACH transaction needs to be refunded. 

ACH Rejects

  • ACH Reject Count - The number of rejected ACH transactions in the billing period.
  • ACH Reject Fee - The fee charged for each rejected ACH transaction. 
  • Total ACH Reject Fees - This is calculated by multiplying the ACH Reject Count by the ACH Reject Fee.

Arbitration

  • Arbitration Count - The total number of rejected payments in arbitration in the billing period.
  • Arbitration Fee - The fee per transaction in arbitration.
  • Total Arbitration Fees - This is calculated by multiplying the Arbitration Count by the  Arbitration Fee.

Retrievals

  • Retrieval Count - Total number of Retrievals in the billing period.  
  • Retrieval Fee -  The fee charged for each Retrieval. 
  • Total Retrieval fees - This is calculated by multiplying the Retrieval Count by the Retrieval Fee.

Next Day Funding

  • Next Day Funding Deposits - The number of next day funded deposits. 
  • Per Deposit Fee -The Next Day Funding fee charged per deposit.
  • Total Next Day Funding Deposit Fees - This is calculated by multiplying the Next Day Funding Deposits by the Per Deposit Fee.
  • Next Day Funding Monthly Fee - The fee charged monthly for Next Day Deposits.

 

What should I do if I have a question about my fees?

If you are confused by a fee charged to your account, we first recommend referring to the fee schedule you were provided with at onboarding to seek an explanation. If you would like to discuss your fees, contact Storable Support at support@storedge.com or by phone at (888) 403-0665

How are fees processed?

Your Monthly Statement balance is automatically paid on the 5th calendar day of the month. The payment is made against the bank account to which you are receiving daily Deposits, and will take about 3-5 business days to process. This means that you should expect to see the payment deducted from your bank account around the 8th-10th of the month.

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