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Fees
During Card Product setup, you can decide if you want to charge fees to your Account Holders. Fees can serve as an additional revenue stream to cover the costs of specific Account Holder activity types.
The Highnote team must review your fees with your Agreements and Disclosures. Once your fees are approved, Highnote will configure the fees for your Card Product and create a fee schedule.
When establishing your fees, you can select from different fee activity types. A fee activity type is triggered by an action known as a Fee Charge Activity, which causes the fee to be charged.
For most fee types, you can configure rules to ensure fees are applied after a specific count or amount threshold. For example, you can provide the first two in-network ATM withdrawal transactions for free in a given time period and charge for only subsequent withdrawals.
The following table provides details on Fee Activity Types and whether each can provide a specified number of events for free before charging a fee:
| Fees | Details on Fees | Fee Charge Activity | Specified Number for Free |
|---|---|---|---|
| Initiation Fee | One-time fee charged for initial setup. | Fee charged when a Financial Account is issued. | No |
| ATM withdrawal (in-network) | ATM withdrawal transaction executed in the surcharge-free network. In-network refers to the MoneyPass ATM Network. | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category Code 6011, Card Transaction Processing Type is CASH, and/or ATM provider is in the MoneyPass network. | Yes |
| ATM withdrawal (out-of-network) | ATM withdrawal executed in the surcharge network. Out-of-network refers to ATMs outside of the MoneyPass ATM Network. The ATM network may apply additional fees. | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category Code 6011, Card Transaction Processing Type is CASH, and/or ATM provider is not in the MoneyPass network. | Yes |
| ATM decline | ATM transaction that is declined | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category 6011, Card Transaction Processing Type is CASH, and/or Transaction event response code is DO_NOT_HONOR or INSUFFICIENT_FUNDS. | Yes |
| ATM balance inquiry (in-network) | ATM Balance Inquiry transaction executed in the surcharge-free network. In-network refers to the MoneyPass ATM Network. | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category Code 6011, Card Transaction Processing Type is BALANCE_INQUIRY, and/or ATM provider is in the MoneyPass network. | Yes |
| ATM balance inquiry (out-of-network) | ATM Balance Inquiry transaction executed in the surcharge network. Out-of-network refers to all the ATMs outside of the MoneyPass ATM Network. | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category Code 6011, Card Transaction Processing Type is BALANCE_INQUIRY, and/or ATM provider is not in the MoneyPass network. | Yes |
| International transaction | Any transaction with a merchant not located in the United States. | Fee charged when a CLEARING Transaction Event is processed with a merchant not located in the United States. | No |
| International ATM withdrawal | ATM withdrawal transactions executed by a merchant not located in the United States. | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category Code 6011, Card Transaction Processing Type is CASH, and ATM provider is not located in the United States. | Yes |
| International ATM balance inquiry | Balance Inquiry ATM transaction executed by a merchant not located in the United States. | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category Code 6011, Card Transaction Processing Type is BALANCE_INQUIRY, and/or ATM provider is not located in the United States | Yes |
| International ATM decline | ATM transaction that is declined. | Fee charged for the following events: AUTH AND CLEAR Transaction Event with the Merchant Category Code 6011, Card Transaction Processing Type is CASH, and/or Transaction event response code is DO_NOT_HONOR or INSUFFICIENT_FUNDS. | Yes |
| Late payment fee (with grace period) | Fee assessed when a payment is not made by an Account Holder after the grace period. | Fee charged up to X days (grace period) after a billing cycle’s payment due date. Late Payment Fees are only available for Credit Card Products. | No |
| Virtual Card reissue | A Virtual Payment Card is reissued. A virtual card is typically reissued if an account is compromised or the Account Holder has requested a new card. | Fee charged when a Virtual Payment Card is reissued and copyNumber is not selected. | Yes |
| Physical Card Reissue | Additional Physical Payment Card is ordered. | Fee charged when a new Physical Payment Card is ordered and a Physical Payment Card Order already exists. | Yes |
| Expedited Card Fee | Physical Payment Card order uses expedited shipping rather than the default shipping rate. | Fee charged when a Physical Payment Card Order has a Courier Method higher than USPS Ground. | Yes |
| Monthly Fees | Fee assessed on a Monthly Basis | Fee charged when a Financial Account Billing Cycle occurs. | No |
| Inactivity | Fee for inactivity on a Financial Account. | Fee charged when a Financial Account has had no Transaction or Transfer activity within a configurable timeframe. | No |
| Cash Withdrawal at Point of Sale | Fee for withdrawing cash with a purchase at a point of sale. | Fee charged for a card Transaction Event on an approved Authorization where the Card Transaction Processing Type is GOODS_AND_SERVICES_WITH_CASH_DISBURSEMENT. | No |
| Over-the-Counter Cash Withdrawal | Fee for withdrawing cash over-the-counter (i.e. from a bank teller) | Fee charged for a card Transaction Event on an approved Authorization with the Merchant Category Code 6010 for manual cash disbursement and Card Transaction Processing Type is CASH. | No |
The Highnote team will configure and activate Fee Schedules in your Live environment, but you can simulate creating Fee Schedules in your Test Environment using the following query:
In addition to displaying fees, you must provide the appropriate Agreements and Disclosures to your Account Holders.
Once fees are configured, you can view them in the Dashboard under Product Settings. You can also query the configuration to display in your application to Account Holders.
Each fee schedule has an active date and a status to determine if the schedule is Active. The following query can be used to view a fee schedule:
ATM Withdrawal, ATM Balance Inquiry, International Transactions, and Monthly Fees cannot be simulated in the Test Environment.
Once the Highnote team configures fees, you can test the configuration to ensure the fees are assigned properly to your users.
You can display fees alongside other activities, like Transaction Events, by querying for the activity on a Financial Account.
Note the following when querying for Financial Account activities:
- For Financial Accounts with no activities, the Highnote API returns four specific ledgers: Cash, Available Cash, Credit Outstanding, Available Credit.
- For Financial Accounts with activities, the Highnote API only returns ledgers that have at least one activity on them.
Use the following query to view Financial Account activity:
Account Holder Fees are collected immediately and transferred to an Income Account for each Card Product. You can view the balance of the Income Account in the dashboard under your Card Product's Balance.
You view the balance of fees collected for your Card Product by querying the ledgers associated with your Card Product Income Account. Use the following query to query the balance on an Income Account:
You can query for a group of fees collected, and filter by the Financial Account issued to a given Account Holder. Use the following query to search for fees collected on a Card Product: