Banking - Transfer fees
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Description
A transfer fee is charged automatically when a transfer is made (a transfer fee can thus not be charged manually). A transfer can have no, one or multiple transfer fees. Transfer fees are configured on a special tab in the transfer type details page. There are various ways to calculate the fee (fixed, percentage etc) and define who is charged.
Business rules
- A transfer fee is always defined per transfer type.
- When this transfer (from now on called the invoking transfer) is made the transfer fee will be charged.
- The transfer fees can be configured by clicking on the tab "transfer fees" visible in the transfer type details page.
- It is possible to have 0, 1 or multiple transfer fees per transfer type.
- The fee charged can be a fixed amount or a percentage of the transfered amount (this is always calculated with the original amount, and not the amount reduced by other transfer fees).
- There are two ways the fee can be charged (called deduction):
- "Subtract fee from amount" - if the fee is 5% and the user transfers 100 units. Then 95 units are transferred and 5 units are transferred as fees. In case this fee(s) are bigger than the amount of the invoking transfer, this fee(s) are charged until the complete invoking transfer is exhausted (in this example maximal 100 units of fees can be charged).
- "Do not subtract fee from amount" - if the fee is 5% and the user transfers 100 units. Then 100 units are transferred and 5 units are transferred as fees. In this case an the fee can be bigger than the amount transferred by the invoking transfer.
- Be aware of the fact that in the first case this is x% of the amount transfered to the other member and in the last case this is x% of total amount transfered. (E.g. if the fee is 5%, in the first case 95 units are transfered and 5 units are paid as fee, in the second case 100 units are transfered and 5 units are paid as fee. In percentage of the amount transferred, the percentages are subsequently 5/95=5,25% and 5/100=5%.)
- The transfer type is always charged on a specific account and payed to a specific account.
- These specific accounts can be "System account", "Member paying (source)", "Member receiving (destination)" and "Fixed member".
- System account, are all possible system accounts.
- Member paying (source), is the member that is paying the invoking transfer.
- Member receiving (destination), is the member that is receiving the invoking transfer.
- Fixed member, is a just another member that you can select.
- A generated transfer type is needed to make this transfer.
- Only if the transfer fee is charged on the "member paying (source)" the deduction option is shown.
- When selecting the generated transfer type, only the generated transfer types are shown that can make a payment between the two accounts in the currency of the invoking transfer.
- If the option "Charge fee in other currency." is selected only the generated transfer types are shown that can make a payment between the two accounts in other currencies than that of the invoking transfer.
- These specific accounts can be "System account", "Member paying (source)", "Member receiving (destination)" and "Fixed member".
- In the transfer details page for every transfer all transfer fees are shown in a section under the transfer. And for every transfer fee the invoking transfer is shown in a separate section. A member can see all transfer fees "charged on" and "payed to" his account trough his account information. An admin can see all transfer fees that are "charged on" and "payed to" accounts he has the Account configuration - View permission of.
- If a transfer fee is enabled and a payment is made using the transfer type where a transfer fee is on, the fee will always be charged.
Pages
Transfer fees list
New transfer fee
| Fields | Type | Rules |
| New | Action button | Opens a details page for the creation of a new transfer fee |
Transfer fee list
* Always shows all transfer fees of the transfer type automatically, sorts first on active (first "yes" second "no") then on name.
| Fields | Type | Rules |
| Enabled | Text (read only) | Displays "Yes" if the transfer fee is active and no if the transfer fee is not active. |
| Name | Text (read only) | The name the of the transfer fee. |
| Amount | Text (read only) | Show the amount charged, if this is a percentage also show "%" sign. |
| Generated transfer type | Text (read only) | The name of the generated transfer type used by the transfer fee. |
| Remove | Icon | Action icon to remove the fee |
Transfer fee details
| Fields | Type | Rules |
| Transfer fee details window | ||
Transfer type
|
Text (read only) | Displays the name of the transfer type that triggers the charge of the account fee. |
| Name | Text | The name of the transfer fee.
|
| Description | Text area | The description of the transfer fee.
|
| Enabled | Boolean | Specifies if the transfer fee will be charged or not. |
Configure fee via
|
Radio button | Usually fees are configured using the options in the form (see explanation further below). For more complex use cases it is possible to create use a script (of type 'transfer fee calculation').
|
Charge fee in other currency
|
Boolean | If this option is selected only generated transfer types are shown in another currency then the currency of the invoking transfer.
|
Will be charged
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Single selection | Specifies who will pay the fee.
|
| Will be charged user | User selection |
|
Will receive
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Single selection | Specifies who will receive the fee.
|
| Will receive user | User selection | Visible and required if "Fixed user" is selected on field "Will receive". |
| Generated transfer type | Single selection | This is the transfer type of the actual fee. It is strongly advised to create dedicated transfer types for fees
|
Charge mode
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Single selection |
|
| Custom script | Single selection |
Sets the custom script used for calculating the fee amount
|
| Script parameters | Text area |
Parameters passed to the calculation script. The parameters are parsed as a Java Properties (see the expected format)
|
| Amount | Positive decimal | Shows the amount of fee that will be charged.
|
| Deduct amount | Boolean | When selected the fee will not be charged on top of the original amount, but deducted from the total amount. As example, a fee of 3% on a transaction of 100, will result in a total amount of 103 to pay (in this example the fee is configured so that the payer will be charged). With the same example, if the deduct option is selected the main transaction will be 97 and the fee will be 3, so the total amount (including the fee) will be 100.
|
| Apply on conditions | ||
| Higher or equals than amount | Positive decimal |
The fee will only be charged if the transfer amount of the invoking transfer is bigger than or equal to the specified amount.
|
| Lower or equals than amount | Positive decimal |
The fee will only be charged if the transfer amount of the invoking transfer is smaller than or equal to the specified amount.
|
| From groups | Multi select | Select one or more groups to limit the groups the fee will be charged from
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| To groups | Multi select | Select one or more groups to limit the groups that will receive the fee
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