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kisskatlyn · 10-15-2003, 08:22 PM

Anyone on here understand the stormpay fee stucture? It says it is free to send money but costs $1.25 + 15% to add money to your account from your credit card. So does that mean that if someone wants to send me $20 it will cost them $24.25? Am I understanding this right? Because if I am this is total crap. To receive money it costs $0.39 + 2.9%. That means that I receive $19.04 and the customer spends $24.25. Stormpay earns over $5! Then it costs $2 for me to withdraw on top of that.

I don't mind the charges that I incur because that's expected but those charges for the customer are absolutely ridiculous. If a product I'm selling is $20 they shouldn't have to spend $24.25.

Or am I misunderstanding the way the fees work?

10-15-2003, 08:22 PM
kisskatlyn Confirmed User Industry Role: Join Date: Jan 2003 Location: Ottawa Posts: 433	Stormpay fees Anyone on here understand the stormpay fee stucture? It says it is free to send money but costs $1.25 + 15% to add money to your account from your credit card. So does that mean that if someone wants to send me $20 it will cost them $24.25? Am I understanding this right? Because if I am this is total crap. To receive money it costs $0.39 + 2.9%. That means that I receive $19.04 and the customer spends $24.25. Stormpay earns over $5! Then it costs $2 for me to withdraw on top of that. I don't mind the charges that I incur because that's expected but those charges for the customer are absolutely ridiculous. If a product I'm selling is $20 they shouldn't have to spend $24.25. Or am I misunderstanding the way the fees work?