Additional fees on payments
Transaction fees are small amounts of money deducted from your payments when you deposit money to your account balance. This ensures that your final balance is fully usable without hidden costs. Fees are separated into two posts on your invoices. The first one is the fee paid to the payment processor for processing your payment. Last but not least there's VAT (value added tax) which is deducted from payments made to non corporate accounts located within EU.
These are the current fee rates, when you pay with cryptocurrency you only pay a percent of the amount and a network fee to the miners. Paypal charge a fixed fee and a percent of the amount. Remaining bank exchange fees are on the house, but can be deducted from a withdrawal.
|Payment provider||Fixed fee||Dynamic fee||Additional fees|
|Cryptonator||$0.0||0.9%||Network fee to miners|
|Paypal||$0.30||2.9%||+/- 10% exchange and bank fees (withdrawals only)|
What are the VAT rates?
Current VAT rates can be found here: https://www.99stack.com/legal/value-added-tax
Why isn't payments free like elsewhere?
Digital payments has never been free, transaction fees are usually baked into the price of a product and thereby hidden. We find it unethical to hide these fees by pretending they don't exist.
How do I get a lower fee?
Pay with a supported cryptocurrency to eliminate the need of middlemen, banks and exchange services. Cryptonator is our current payment provider for cryptocurrency payments which is subject to be replaced by a more decentralized solution with lower fees.
What happens to already deducted VAT and fees when I withdraw from my balance?
If a refund is approved (applies up to 60 days from payment date), all fees will be returned. For withdrawals, additional fees applies, usually only transaction fees but if you need the money immediately, exchange fees may be involved as well. VAT is only a reserved amount and will be deducted on actual purchases of resources, once a refund or withdrawal is approved, remaining reserved VAT will be returned.
*VAT = Value Added Tax, applies mainly to individual accounts within EU and is managed by 99Stack, please observe that other taxation laws may apply in countries outside EU.