Managed account fees
With Weavr, you can earn revenue from your customers for using your services. To set up fees for certain actions, go to the Weavr Portal > Settings page and find managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. profileProfile A template defining the configuration for one type of object - corporate identity, consumer identity, managed account, managed card, transfer, or outgoing wire transfer. When you create one of these objects you reference its Profile ID, which tells Weavr which limits, currencies, supported countries, branding, and fees to apply. Your programme ships with one or more Profile IDs per supported object type. configuration.
Supported fees
You can configure the system to take the following fees for you from your customers’ managed accountsManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. whenever the related transactions are triggered.
| Fee | Description |
|---|---|
| Deposit fee | The system takes a fee from the managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. for every deposit registered on the managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. |
| Withdrawal fee | The system takes a fee from the managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. for every withdrawal registered on the managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. |
Fees are taken on a best-effort basis - we attempt to deduct the fee at the time of the transaction, but if the managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. does not have sufficient funds to cover it, the fee is skipped rather than queued or retried. The underlying transaction still completes.
Fee configuration
You can set up fees using different fee types.
| Fee Type | Description |
|---|---|
| Flat | The system charges a fixed amount for every transaction/event |
| Percentage | The system charges a percentage of the transaction amount for every transaction/event |
| Plus | The system charges both a fixed amount and a percentage amount for every transaction/event |
| Min | The system charges either a fixed amount or a percentage amount, whichever one is lower |
| Max | The system charges either a fixed amount or a percentage amount, whichever one is higher |
Not all fee types are available for all fees.
Example
A Flat deposit fee of EUR 0.50 configured on a EUR managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. deducts 50 cents from the account each time a deposit is received, regardless of the deposit amount. A Percentage withdrawal fee of 1% on the same account deducts 1% of each withdrawal amount.