Why do you charge this fee?

FINOM charges fees on card payments to certain MCCs because these transactions pose a higher risk to the safety of your account. We monitor these transactions, to protect your FINOM account.

What is MCC?

Merchant Category Codes (MCCs) are four-digit numbers that describe a merchant's primary business activities. Сard issuers use these MCC codes to identify the business type of a merchant.

It is universal to all countries, as MCC codes are used by Visa and Mastercard.

A business is assigned a MasterCard, VISA, or American Express MCC code when it begins to accept cards from any one of these providers.

Which MCCs are included in the list?

You can check this list here

  • Examples of merchants where you will not be charged — Amazon, Apple, Zalando, grocery stores, etc

  • Examples of merchants where you will be chargedcrypto.com , changeinvest.com and other investment platforms, merchants who process card transactions related to betting and gambling transactions (e.g. fees for Lotto and Sports Betting), etc

How is the fee calculated?

The fee is calculated based on the total amount of payments made with all cards of the company to certain MCCs per month.

Fee for card payments on specific MCCs

Limits

Solo

Start

Premium

Corporate

0-500€

1%

0%

0%

0%

500-2500€

2%

1%

0%

0%

2500-5000€

3%

2%

1%

1%

5000€+

3%

3%

3%

3%

Example 1:

  • The user has a Solo plan.

    They make a card payment of 200 € for a specific MCC. The fee will be 1% on payments on specific MCC up to 500 €.

    The following fee will be charged: 200 € *1% = 2 €

  • The user has a Start plan.

    They make a card payment of 500 € for a specific MCC. The fee will be 0 € since we don’t charge any fee on card payments on specific MCC up to 500 € for users with a Start plan. Thereafter in this month, the client makes another card payment of 100 €, which is included in a specific MCC list.

    The following fee will be charged: 100 € *1% = 1 €

  • The user has a Premium plan.

    They make a card payment of 2500 € for a specific MCC. The fee will be 0 € since we don’t charge any fee on card payments on specific MCC up to 2500 € for users with a Premium plan. Thereafter in this month, the client makes another card payment of 200 €, which is included in a specific MCC list.

    The following fee will be charged: 200 € *1% = 2 €

Example 2:

  • The user has a Solo plan.

    They make a card payment of 50 € for a specific MCC. The fee will be 1% € on payments on specific MCC up to 500 €.

    The following fee will be charged: 50 € *1% = 0,5 €, but the minimum amount of the fee is 1 €. The final fee will be - 1 €

  • The user has a Start plan.

    They make a card payment of 500 € for a specific MCC. The fee will be 0 € since we don’t charge any fee on card payments on specific MCC up to 500 € for users with a Start plan. Thereafter in this month, the client makes another card payment in the amount of 50€, which is included in a specific MCC list.

    The following fee will be charged: 50 € *1% = 0,5 €, but the minimum amount of the fee is 1 €. The final fee will be - 1 €

  • The user has a Premium plan.

    They make a card payment of 2500 € for a specific MCC. The fee will be 0 € since we don’t charge any fee on card payments on specific MCC up to 2500 € for users with a Premium plan. Thereafter in this month, the client makes another card payment in the amount of 50€, which is included in a specific MCC list.

    The following fee will be charged: 50 € *1% = 0,5 €, but the minimum amount of the fee is 1 €. The final fee will be - 1 €

Example 3:

  • The user has a Solo plan.

    They make a card payment of 600 € for a specific MCC. The fee will be 1% € on payments on specific MCC up to 500 €. Also, the fee will be 2% € on payments on specific MCC from 500 € to 2500 €.

    The following fee will be charged: 500 € *1% + 100 € *2% = 7 €

  • The user has a Start plan.

    They make a card payment of 300 € for a specific MCC. The fee will be 0 € since we don’t charge any fee on card payments on specific MCC up to 500 € for users with a Start plan. Thereafter in this month, the client makes another card payment in the amount of 500 €, which is included in a specific MCC list.

    The following fee will be charged: 200 € *0% + 300 € *1% = 3 €

  • The user has a Premium plan.

    They make a card payment of 2500 € for a specific MCC. The fee will be 0 € since we don’t charge any fee on card payments on specific MCC up to 2500 € for users with a Premium plan. Thereafter in this month, the client makes another card payment in the amount of 500 €, which is included in a specific MCC list.

    The following fee will be charged: 2500 € *0% + 500 € *1% = 5 €

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