Understanding Your Monthly Fees
This article explains the different fees associated with your PaySimple account and how they are billed.
How You Are Billed:
Your account will be billed separately for the monthly software fee, ACH processing fees, and credit card processing fees. PaySimple will debit your account for the monthly software fee and your ACH processing fees. Credit card processing fees will appear as a debit on your bank account from your credit card processor.
PaySimple Monthly Software Fee**:
What is it?
You pay a monthly fee for your PaySimple account which includes access to all product features, ongoing upgrades, new feature development and access to our award-winning support team.
When is it billed?
Your business is billed on the first of every month.
How is it billed?
It is automatically debited from your bank account on file with us. The descriptor will say “PaySimple Billing”.
Where can I see details?
You will not receive a statement or an invoice, but you can request to receive an emailed receipt each month by submitting a case to our Customer Care team. You can also look at a summary by going to Settings, Business Settings. There is a snapshot of your upcoming bill in the top right corner.
Credit Card Fees:
What is it?
You are billed a monthly credit card processing fee for all transactions that are completed in PaySimple. You will be billed directly by your credit card processor and not PaySimple, continue reading for more information.
When is it billed?
Your business is billed within the first few days of the new month for all transactions processed in the previous month while your processing statement will be available around the 7th or 8th in the new month. For example, you are billed on the 2nd of August for transactions processed in July and will be able to review your processing statement for July by August 8th.
How is it billed?
Credit card processing fees are debited from your business bank account directly by your credit card processor. They are debited from the bank account where your credit card transactions are deposited unless otherwise specified. Most merchants will see a descriptor of “Global Payments” if your processor is North American Bancard (NAB) or “Merch Bankcard” if your processor is Vantiv (now WorldPay). Need to know who your processors are? Check out this article.
Where can I see details?
You will be mailed a physical statement detailing the breakdown of your credit card fees every month. If you need to update your mailing address with PaySimple, click here.
Customers with an NAB Merchant Account can download the NAB Credit Card Statement FAQ for help with understanding exactly how you are charged in your itemized statement.
Customers with a WorldPay (previously Vantiv)Merchant Account can download the Credit Card Statement FAQ for help with understanding exactly how you are charged in your itemized statement.
ACH (eCheck) Fees:
What is it?
You are billed monthly ACH processing fee for all transactions that are completed in PaySimple. Need to know who your processors are? Check out this article.
When is it billed?
Your business is billed around the 10th of the month for transactions processed in the previous month. For example, you are billed around the 10th of August for transactions processed in July.
How is it billed?
ACH processing fees are debited from your business bank account by PaySimple. They are debited from the bank account where your monthly gateway is also billed unless otherwise specified. The descriptor will say “PaySimple Billing”.
Where can I see details?
The billing contact on your account will receive an ACH statement via email detailing the number of transactions you processed for the previous month and the total amount that was automatically debited from your account. There are explanations of each fee at the bottom of the statement.
What is an ACH Minimum and How Does it Work?
An ACH processing account with PaySimple includes a $5 processing minimum for transaction fees. A minimum is not the same as a monthly fee. If you are processing the minimum threshold of transactions, there are no additional monthly fees incurred.
However, if you are processing less than the threshold your business will be assessed a total of $5 in ACH processing fees each month.
Here are a few example scenarios to see how a minimum can be met or a minimum fee can be assessed.
9 ACH Transactions X $0.60/each
Total = $5.40
Minimum met, no minimum fee assessed.
5 ACH Transactions X $0.60/each = $3.00
1 ACH NSF X $2.50/each = $2.50
Total = $5.50
Minimum met, no minimum fee assessed.
2 ACH Transactions X $0.60/each = $1.20
Total = $1.20
Minimum not met. $5 minimum fee assessed ($1.20 (processing fees) + $3.80 (difference to minimum) = $5).