Glossary

Transaction Fees

TF is a type of a fee when the client needs to pay every moment it processes an electronic payment. TF can vary among the services. On average, the fee is a proportion of the amount of the transfers fulfilled. It is an additional payment for the purchases the merchant has already done successfully.

Clients who manage a debit card outside the country are obliged to pay the transaction fees, and they are commonly higher than inside the country. In most cases, it takes two transaction fees, one of them for the payment system (MasterCard or Visa) and the second one for the bank in which you are cashing out the money or making some transfers.

Some examples:

Joey said that the transaction fee in this country is very big so he decided not to withdraw his money from the debit card.

Some financial establishments inform that a TF will be higher next week.

 

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