Understanding Incoming and Outgoing Bank Transfer Charges

In the Organization Settings of the GoBeller platform, administrators can define and control the charges applied to both incoming and outgoing bank transfers. These settings help businesses manage transaction costs and maintain a consistent pricing structure for customers.

1. Incoming Bank Transfer Charges

Definition:
This is the charge applied when a customer receives money into their account via a bank transfer.

How it Works:

• You can enable or disable incoming transfer charges in the settings.

• Once enabled, you can choose to charge a Flat fee or a Percentage fee.

• Optional minimum and maximum limits help ensure fairness and predictability.

2. Outgoing Bank Transfer Charges

Definition:
This is the charge applied when a customer sends money from their account to another account via a bank transfer.

How it Works:

• You can enable or disable outgoing transfer charges in the settings.

• Once enabled, you can choose Flat or Percentage charging method.

• Minimum and maximum limits can also be set to control fee extremes.

3. Charging Methods Explained

A. Flat Charges

A Flat fee means the same amount is charged for every transfer, regardless of the transaction amount.

Example – Incoming Transfer:

• Charge Type: Flat

• Flat Value: ₦20

• Min Charge: ₦20

• Max Charge: ₦20

Flat charges are predictable and easy for customers to understand but do not scale with transaction size.

B. Percentage Charges

A Percentage fee means the charge is a fixed percentage of the transaction amount.

Formula:

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Charge = (Transfer Amount × Percentage Rate) ÷ 100

Special Rules:

1. If the calculated fee is less than the Minimum Charge, the Minimum Charge is applied.

2. If the calculated fee is greater than the Maximum Charge, the Maximum Charge is applied.

3. If the calculated fee is between the minimum and maximum, the calculated value is applied.

Example – Outgoing Transfer:

• Charge Type: Percentage

• Rate: 1%

• Min Charge: ₦50

• Max Charge: ₦500

4. Setting Up Charges in GoBeller

1. Go to Organization Settings.

2. Under Enable Incoming Bank Transfer Charges or Enable Outgoing Bank Transfer Charges, select Yes.

3. Choose the Charge Type (Flat or Percentage).

4. Enter the Charge Value.

5. Set Min Charge and Max Charge values (only for Percentage).

6. Click Save Sub Settings.

5. When to Use Each Method

• Flat Charges:
  Best when transaction amounts are generally small or when you want predictable fixed costs.

• Percentage Charges:
  Best when transaction amounts vary greatly and you want fees to scale with the transfer size.