Understanding Fees at Paybis
At Paybis, we prioritize transparency in all our transactions, including how we generate revenue. Our earnings originate from fees incurred during successful transactions, which can be categorized into two main types: the Service Fee and the Network Fee. Rest assured, there are no hidden or additional fees involved.
Detailed Explanation of Fees:
The Service Fee is our commission for facilitating your transaction. Paybis charges this fee to cover various costs associated with providing our service. This includes, but is not limited to, payment processing fees, infrastructure costs, and technological expenditures.
It’s crucial to note that the fees can vary based on several factors:
Payment Method: Different payment methods have different associated costs. For instance, bank transfer payments are generally less expensive for us to process compared to alternative methods.
Transaction Amount: Paybis typically imposes a 2 USD minimum Service Fee to cover our overheads and maintain the highest quality of service. Consequently, for smaller transactions, the 2 USD minimum may constitute a higher percentage compared to larger orders.
Currency: The Service Fee can also fluctuate depending on the currency used for the transaction, largely due to foreign exchange fees. Common currencies like USD, EUR, and GBP typically incur lower fees than others.
The Network Fee is charged by miners to confirm transactions on the blockchain. This fee varies depending on the market demand for the specific cryptocurrency chosen and is applicable per transaction, irrespective of the amount spent. It applies to all payment methods.
Adjustments to Fee Structure
Paybis reserves the right to unilaterally update its fees. However, any such changes will only apply to new transactions. You will never encounter adjustments to the fees of an open/in-progress transaction. Thus, the total and final fees presented at the time of creating your order are conclusive.
In the screenshot below, you'll find the fees associated with a Skrill transaction, which include both the Service Fee and the Bitcoin Network Fee. Ensure you review the fees for other payment methods prior to placing an order.
Please bear in mind that investing in Cryptoassets is high risk. If you are unsure about investing or about the risks involved visit our Risk Summary.