There are two types of fees in Moov’s platform:
- Facilitator fees: Per-transfer fees you can charge your customers, allowing you to make money off of payments
- Moov fee: Fees charged to your platform account for processing payments using Moov
Note that for card transfers in particular, the Moov fee can impact how you choose to set up your facilitator fee.
Moov makes it easy for you to monetize your payment flows by collecting a facilitator fee when creating a transfer. This fee can be applied to any type of transfer, and the amount specified will be deducted from the transfer so that the destination receives the transfer amount net of fees. The fee amount is credited to your wallet once the transfer is completed.
Moov charges a fee to your platform to process most payments. Depending on the transfer type, the Moov fee may be incurred at the time of the payment. Using the
facilitatorFee field in the transfer request gives you the option to:
- Implement your own customer-facing fee structure
- Pass along your costs
Transfer types with the
card-payment payment method as the source will incur interchange fees that are not finalized by the card network until the transfer is complete. If you choose to cover the transfer costs, fees will be debited from your wallet when the transfer completes to cover the cost of interchange and any additional, agreed upon Moov fee.
To collect a fee, you can utilize the
facilitatorFee field on transfer creation. There are a few different options when specifying the fee amount:
total: charge the destination a flat fee for the transfer.
totalfacilitator fee is $5, the net amount received by the destination is $95, and you will receive $5 in your wallet.
markup: pass on the Moov fee you incur at the time of transfer. You can either pass on your exact cost, setting markup to 0, or indicate an additional amount you want to collect on top of your cost.
facilitatorFee field is left blank, Moov will apply a default fee of $0 and the destination will receive the gross amount of the transfer.
- The total fee amount cannot exceed the transfer amount
- If you have not specified a facilitator fee and Moov charges a fee at the time of transfer*, Moov will debit your wallet the amount of the Moov fee
- If your wallet does not have enough funds to cover the fees, the debits will result in a negative wallet balance
*Moov currently only charges fees on card payments
Once a transfer is successfully created, Moov automatically creates subsequent transactions representing the associated fees on that transfer. These fees will not be charged until the transfer successfully reaches the destination. In the event of a
failed payment, no fees will be charged.