All balances are available in the Payouts section of the dashboard.
- 'Before Fees' is the total transaction volume accumulated from all charges.
- 'Available' is the total available withdrawal amount, after the relevant fees have been deducted.
- 'On Hold' is the amount that is held for 7 days after a transaction has been made. After 7 days, the amount will be moved to 'Before Fees' and 'Available'.
1) FX Conversion Fee
This fee is applied if a currency conversion is required.
2) XanPay Fee
Accounts can have two types of fees, local and cross-border. Fees are applied to your withdrawal amount after the relevant FX conversions have been applied. For mainstream businesses, we charge a flat rate of 1.99% fee per overseas transaction and 0.6% fee per local transaction. For high-risk businesses, these rates vary and are determined on a case-by-case basis.
How are these fees applied?
There are 2 ways that these fees can be applied onto your settlement.
While setting up your XanPay account and Payout methods, you will be prompted to set up a Default Currency. Following your choice to set up a Default Currency, it determines how your fees are applied.
I want to set up a default currency. How are the fees applied?
If you have set up a default currency, payments completed by your customers will instantly be converted from the paid customer currency to the selected default currency.
E.g. Your customer has placed an order on your website, and paid in AUD. In your XanPay account, you have set your default currency to SGD. Hence, the amount seen in your Payouts section under Available withdrawal will only be in SGD.
In this scenario, FX conversion from customer currency (AUD) to your default currency (SGD) is applied. In addition, since the customer currency (AUD) is different from your default currency (SGD), the XanPay fee charged for this transaction would be the cross-border fee.
If the customer currency is the same as your default currency, there are no FX conversion fees applied, and the XanPay fee charged would be the local fee.
Note: Setting up a default currency is not recommended if you want to withdraw in multiple currencies.
I want to withdraw in multiple currencies. How are the fees applied?
When payments are completed by your customers, all transacted amounts in its customer currency will be visible in your Payouts section. When a settlement/payout is initiated, the target settlement currency is specified, and the customer currency is converted into the selected settlement currency.
In this scenario, FX conversion and cross-border fees are applied if the selected settlement currency is different from the customer currency. Likewise, if the selected settlement currency is the same as the customer currency, no FX conversion fee is applied, but a local fee is charged.
Additional Fees (External)
In addition to the above, certain payout methods employ external banks or intermediaries for completing transfers such as SWIFT or SEPA. In these cases, these intermediaries may charge an additional amount which is not computed as a percentage, but as a fixed amount per transfer. In these cases, we encourage merchants to manage these fees by increasing the amount they transfer each time.
For crypto payouts, we charge an additional 0.3% for payouts via USDT on the Tron chain.