What charges are included in GuestyPay and when are they collected?

GuestyPay provides customized dashboards in one platform, where you can maintain full control and transparency of your payments without the hassle of dealing with a third-party provider.

Learn more about GuestyPay.

As with any payment processor, is it important to understand what fees and payment types are charged by GuestyPay, and when are they collected.

Fees per transaction

Operational fees

  • Rolling reserve fee.
  • Onboarding fee - one time fee for processing account set-up / termination.
  • Monthly fee - charged for account operations and management
  • Chargeback fee (per event) - each chargeback status change is considered an “event” (e.g. chargeback opening, representing the chargeback, or losing the chargeback).

Time of collection

A payment settlement term specifies the interval between the settlement date (when a transaction is finalized) and the payout date (the day funds are transferred to your bank account). Take, for instance, a T+7 settlement term. Here, 'T' represents the settlement date, while '+7' indicates the number of calendar days following the settlement date. As a result, transactions executed on the settlement date (day 1) will be included in the payout processed 7 days later, on day 8. For example, transactions settled on October 10th, 2023 will be included in the payout sent on October 17th 2023, which is 7 days later (October 10th plus 7 days).

  • Fees are collected from your GuestyPay processing account before the settlement. Fees Summary report provides a complete overview of all the fees that have been processed on the processing account.
  • Weekly settlements are generated once a week, every Monday, and include all payment processing activities for the past week.
  • Daily settlement is a summary of the daily payment processing activity (net amount of sales, credits, chargebacks, reversals, fees) in your GuestyPay account. For example, activities that were performed on October 10th, 2023 are included in the Settlement from October 10th, 2023.
    Your daily settlement information includes a summary of daily payment processing activity (for instance: net amount of sales, credits, chargebacks, reversals, fees, etc.). You can review this informationn in the "Settlements" report in your GuestyPay dashboard.

Note:

Payouts occur every day of the week, but since banks process transfers only on business days, payouts sent from GuestyPay to your bank during weekends or bank holidays are typically received by your bank on the following first business day.

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