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 charged — crypto.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
💡 These rates do not apply to users with FR IBAN
Check article in French here
Limits | Solo | Start | Premium | Corporate |
€0 - €499 | 3% | 2% | 1% | 1% |
€500 - €2,499 | 4% | 3% | 2% | 1% |
€2,500 - €4,999 | 5% | 4% | 3% | 2% |
€5,000+ | 6% | 5% | 4% | 3% |
Example 1:
The user has a Solo plan.
They make a card payment of €200 for a specific MCC. The fee will be 3% on payments on specific MCC up to €500.
The following fee will be charged: €200 *3% = €6
The user has a Start plan.
They make a card payment of €2500 for a specific MCC.
The fee will be 2% on payments on specific MCC from €2500 up to €4999
The following fee will be charged: €2500 *2% = €50 etc.
Example 2:
The user has a Solo plan.
They make a card payment of €20 for a specific MCC. The fee will be 3% € on payments on specific MCC up to €500.
The following fee will be charged: €20 *3% = €0.6, 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 €30 for a specific MCC.
The fee will be 2% € on payments on specific MCC up to €500.
The following fee will be charged: €30 *2% = €0.6, but the minimum amount of the fee is €1. The final fee will be - €1 etc.
Example 3:
The user has a Solo plan.
They make a card payment of €600 for a specific MCC.
The fee will be 3% € on payments on specific MCC up to €500.
Also, the fee will be 4% € on payments on specific MCC from €500 to €2499.
The following fee will be charged: €500 *3% + €100 *4% = €19 etc.