What are withdrawal fees?
A so-called “hidden cost” when using mobile money are the withdrawal fees for the recipients of mobile payments. These are fees charged by the mobile money agents, when a recipient tries to withdraw money.
Should you add withdrawal fees?
When you send funds through our platform, it’s important to consider these, especially when the funds need to be withdrawn immediately from an agent location. You need to decide whether the recipient should cater for their own withdrawal fees, or whether you want to top-up the payments you send them, in order to cover the withdrawal fees. The decision to add these fees or not depends on your particular use case.
Automatic fees calculation
Beyonic makes it easy to add withdrawal fees by calculating them for you. When you make a payment, if you want Beyonic to calculate the fees, make sure the checkbox at the top of the “Withdrawal Fee” column is selected. Whenever you enter a payment and proceed to the next line, the platform will automatically calculate the fee and total amount to send.
If you want to use your own calculations or if you do not want to add the fees, uncheck the checkbox at the top of the “Withdrawal Fee” column.
Note: The “Withdrawal Fee” column only appears if you are sending mobile money. If you are sending airtime, the column will not appear.
Note 2: These fees are only estimates. The telecom networks change the withdrawal fees from time to time. We endeavour to keep our calculations up to date, but may not be notified of a change in fees in a timely manner. If you notice any wrong fees, please contact us and we shall update them immediately.
Each telecom network displays their latest fees online. For the latest information, please check the telecom network's websites.
The above links are third party links to our mobile payment partner websites. If any of the links does not work anymore, please notify us