Fees
1. Free Set Up
Take advantage of our limited offer of no set up fees or charges for signing up for a Swiftpay Online Business Account today!
- Free to Open Accounts
- Free to Send Money
- Free to Add Funds
- Free to Withdraw Money
2. Standard Selling Charges
The following are the fees levied when receiving payments.
| RECEIVING PAYMENTS |
Account Type | Fee |
| Personal | 3% + 30c per transaction |
| Business | 3% + 30c per transaction |
3. Free Payout Options
| Check Withdrawal | Free |
| Bank Wire Withdrawal | $20:00 |
4. Accounts Over $1,000
Swiftpay can only release funds to Merchants 7 (seven) days after the original payment date to the Merchant.
Once Swiftpay have processed more than $1,000 of transactions for a Merchant, the Merchant must fill out a Business Application Form before further transactions can be processed. No further transactions can be processed until the Business Application Form is completed and returned.
Swiftpay keeps a 15% holdback fee for six months on all payments after $1,000 for fraud prevention purposes. Where Swiftpay believes that a merchant's trading activities might be illegal in the jurisdiction in which they are operating, and/or where there is a significantly increased risk of fraud, Swiftpay reserves the right to increase this holdback up to 100% for a period of 6 months. Other than this safeguard, funds are freely available to Merchants.
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