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Shared Fees Configuration

Shared fees are currently only applicable to the SendSend A transaction type that allows sending funds to another identity's instrument or to a beneficiary. Send transactions may require Strong Customer Authentication depending on the destination and whether it's a trusted beneficiary. profile. Custom fees for TransfersTransfer A transaction that moves funds between instruments managed by Weavr. The source and destination instruments of a transfer transaction must be owned by the same identity. Transfers can be scheduled for future execution and can be performed in bulk operations. and Outgoing Wire Transfers (OWT) are only charged to the source instrument.

To configure a shared fee in the Send profile, follow these steps:

  1. Identify the Fee Group for which the shared fee is configured,
  2. Select the Fee Type you want to apply. Note that if 'None' is selected as the fee type, a shared fee cannot be configured,
  3. Choose the Shared option for 'Who pays this fee',
  4. Adjust the line scale pointer to set the fee percentage split between the source and destination instruments. The combined percentage must always equal 100%. For example, if 40% is charged to the source instrument, 60% is charged to the destination instrument.

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In a shared fee configuration, the fee for the destination instrument is deducted from the transaction amount. Below is an example illustrating how the fee is reflected in both instruments' statements.

Shared Fee Example​

The following example illustrates a Send profile fee configuration with the following parameters:

  • Fee Group: Send Account To Card Fee
  • Fee Type: Percentage 5%
  • Shared: 40% on Source and 60% on Destination

The diagram below illustrates the changes in balance and the calculation of the shared fee between the source and destination instruments. The top section of the diagram shows the opening balance of both instruments and the transaction amount being sent (EUR 400). With a fee type of 5%, the total shared fee is EUR 20. The bottom section of the diagram explains the fee calculation and how the statement entries are displayed.

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