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By agreeing to the Ontop Platform Client General Terms and Conditions (“Client T&Cs”) or Ontop Platform Worker General Terms and Conditions (“Worker T&Cs”), you authorize Ontop to deduct our fees for the transaction service, payment services, Payroll Services, Financial Services, or any other money transfer service (the “TransferServices”). Fees may be deducted at the time of the final transfer or, in the case of Exception Fees, after the Transfer Service is completed. These Transfer Service fees are separate from any other Ontop Total Fees. All fees below are in USD. Capitalized words not defined in this Fee Schedule shall have the meanings set forth in the Client T&Cs, Worker T&Cs, or Worker Wallet Terms.
1. Standard Fees
All Transfer Services funded and paid out attract a fee that depends on the applicable payment method (“PaymentRail”) you select (where such a choice is available), the country of origin and destination, and the Regulated Institution used to process the Transfer Services. In addition, Ontop reserves the right, at its sole discretion, to apply margins or mark-ups to applicable foreign exchange rates and to include other applicable costs or charges, including those passed through by third-party providers or Regulated Institutions. These terms are further detailed in Sections 9 and 10 of the Client T&Cs, Section 5.5.3 of the Worker T&Cs, and Section 5 of the Worker Wallet Terms. The fees above are separate from the Exception Fees listed below.
2. Standard Fees
- ACH Transaction Failure Fee: In the event that you wish to cancel a transaction or a ACH transaction fails to be successfully completed related to a deposit, payment, payout, or transfer (collectively a “Cancellation”), Ontop may charge a cancellation fee of $50.
- Account Opening and/or Monthly Service Fee: To be determined on a case-by-case basis.
- Inactive Fee for Worker: A $10 monthly fee will apply to any Worker Wallet deemed inactive. A Worker Wallet is considered inactive if the Contractor has (i) no active service contract on the Ontop platform, and (ii) has not initiated any outgoing transfers or used the Ontop Card for purchases during a consecutive two-month period.
- FX Loss: If a Cancellation requires Ontop to unwind a foreign exchange (“FX”) transaction executed on your behalf, you will be responsible for reimbursing any resulting FX conversion losses. Such losses will be calculated as the difference between the original conversion rate applied and the rate available at the time the FX transaction is reversed or closed out. Upon request, Ontop will provide a breakdown or supporting documentation evidencing the calculation of the loss, including the applicable FX rates used.
- Ontop Card Foreign Exchange Fee: All purchases made with the Ontop Card in a currency different from the card’s base currency are subject to a foreign exchange fee of 1.1%. This fee is automatically applied at the time of transaction and reflects the conversion and processing costs associated with international purchases.
- Worker Recall Fee: If Worker requests a recall of a final transfer, Ontop will charge $50 to cover Regulated Institutions fees, Bank Fees, and our direct costs.
- Client DD/ACH Reversal Fee: If a transaction by mandate is reversed, whether at your request, due to insufficient daily penalty of the greater of $30 or 5% (per day) of the final transfer amount, until you restore the funds as required under.
- Bank Fees:
a. If you make a transfer other than by electronic funds transfer and Ontop incurs a bank and/or Regulated Institutions charge, we reserve the right to pass on that fee.
b. Additionally, we may receive less than the amount you transferred due to deductions made by a correspondent bank and/or Regulated Institutions. In such cases, Ontop reserves the right to request payment of the shortfall or add the outstanding amount to your next Invoice.
c. Banks typically charge Ontop when a payment is rejected due to incomplete or inaccurate beneficiary details. We will pass this cost (typically $15) on to you.
- Third Party Charges: Subject to the fees outlined herein, Ontop will always endeavor to send the full payment amount. However, costs outside of Ontop’s control may apply and be passed on to you. Where foreseeable, Ontop will notify you in advance of such charges.
- Interest: Ontop does not pay interest to corporate or non-corporate Clients and/or Workers. The Terms describe when Ontop may apply interest for late deposits or unpaid fees.
- Intermediary Fees: Ontop is not responsible for any direct or indirect fees charged by the receiving bank, Regulated Institutions, or an intermediary to receive your payment.
These fees apply unless you have negotiated a written amendment of this Fee Schedule with Ontop.