How does the 'Monthly Minimum' fee work in Finmo?

The Monthly Minimum refers to the minimum fee that will be invoiced to the client each month, regardless of transaction volume. This is not an additional charge but a baseline commitment for using Finmo’s services.

For instance, if your monthly transaction fees exceed the agreed Monthly Minimum (e.g., USD 1,000), you will be billed based on actual usage. However, if your transaction fees fall below this threshold, the shortfall will be invoiced to meet the minimum commitment.

Are fees automatically detected and applied during transactions?

Yes. In Finmo, we follow RTFS(Real-Time Fees Structure) model for fee deduction. It is a system that dictates how transaction fees are applied. It is enabled by default and the transaction fee is deducted in real time from the sender wallet/currency as and when the transaction occurs.