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Fees

Below, you will find the breakdown of fees associated with Checkout

For Businesses

Embr Checkout is a free software-as-a-service (SaaS) for businesses that wish to use it. There are no hidden fees, no setup fees, no monthly fees, none of that. If you wish to build and implement a Checkout, you can visit the Admin Dashboard and customize away at no cost to you.
The fees associated with Checkout apply to the end-user and not to the businesses implementing Checkout. The Checkout interface will calculate and show the end-user all the fees associated with their transaction before they confirm the purchase. A receipt will be sent to the email provided after the purchase is confirmed.

Fee Types

Checkout Convenience Fee

Each transaction made through Checkout includes a 1% convenience fee from the buyer in addition to any other fees that may situationally apply; whether there’s a buy tax, DEX swap fee, or credit card processing fee.

Buy/Sell Taxes on Tokens

Some tokens, such as Safemoon, have buy/sell taxes built directly into their smart contracts. Reflection-based tokens use buy/sell taxes to create a trickle of tokens from each sell that can serve many purposes - small payouts to holders, auto-generating liquidity, and more. If a token has a buy tax, you will notice that you receive fewer tokens than you otherwise would if there was no buy tax. When manually calculating total fees, it's wise to consider these built-in buy taxes in addition to DEX fees and our 1% convenience fee. This type of tax is up to the developers of a given protocol and we have no control over this.

DEX Fees

DEXes charge a fee for swaps, usually in the range of 0.25%-0.5%. This is not standardized and is specific to the DEX. For example, PancakeSwap charges a combined 0.25% DEX fee, so you would add that 0.25% DEX fee to Checkout's 1% convenience fee to calculate the fees you're paying for a simple swap from BNB to a BSC token. In this example, you'd be paying 1.25% total in fees plus any buy tax/sell tax associated with the token you're trying to buy.

Transak (Fiat On-Ramp)

Transak charges a standard fee for on-ramping from fiat to cryptocurrency. The fees are calculated as follows:
  • Credit Card*/Debit Card ➡️ USD - 3.99% ➡️ EUR & GBP - 3.99% ➡️ Other - 5.5%
  • Google Pay ➡️ USD - 3.99% ➡️ GBP - 3.5% ➡️ Other - 5.5%
  • Apple Pay ➡️ USD - 3.99% ➡️ EUR/GBP - 3.5% ➡️ Other - 5.5%
*Only Visa and Mastercard credit cards are accepted.

Wyre (Fiat On-ramp)

Wyre charges a standard transaction fee for currency exchanges. This is the only fee associated with Wyre, there are no other hidden fees. The fees are calculated as follows:
  • Domestic (US)
    ➡️ Apple Pay - $5 minimum fee or 2.9% + 30c, whichever is greater
    ➡️ Debit Cards - $5 minimum fee or 2.9% + 30c, whichever is greater
    ➡️ Credit Cards** - $5 minimum fee or 2.9% + 30c, whichever is greater
  • International (Outside of US)
    ➡️ Apple Pay - $5 minimum fee or 5.4% + 30c, whichever is greater
    ➡️ Debit Cards - $5 minimum fee or 5.4% + 30c, whichever is greater
    ➡️ Credit Cards - $5 minimum fee or 5.4% + 30c, whichever is greater
**Only Visa and Mastercard credit cards are accepted

Network Fees

Most blockchains charge what is called a network fee or gas This fee serves to maintain the network itself and does not go to Transak or Embr.
Some blockchains' network fees are steeper than others, so do take this into consideration when making a purchase. Generally, network/gas fees will be significantly higher on Ethereum than Binance Smart chain, for instance. To find more live information about gas fees for a specific chain, be sure to check that blockchain's block explorer website (i.e. BSCscan, EtherScan, etc.).

Note about fees

Different transactions will incorporate different combinations of these fees mentioned above. A buy from native coin to a token will require different fees than if you were to on-ramp from fiat directly to a token with a 10% tokenomic buy tax.
This article should help give a clearer idea of what fees to expect in a given transaction but the golden rule remains that different transactions can incur different fees depending on the factors above.