1. What are these three fees meant for?
These fees are applied in limited circumstances of inactivity on behalf of the customer. These are not standard fees and are charged in exceptional cases on a monthly basis.
The No-cooperation Fee, Inactivity Fee and No-acquiring Fee are fees that may be collected from myPOS merchants who are not using the myPOS Service in compliance with its rules and purpose and are covered by one of the following situations:
- No-cooperation Fee: The account of the merchant is blocked because the merchant’s activities are considered to be in breach of our Acceptance Policy or our Legal Agreements or other applicable regulation, or the merchant has not provided information or documents as requested by us;
- Inactivity Fee: The merchant hasn’t used any of the payment functionalities of the myPOS Service for a period of 10 consecutive months whereby the account has been inactive and there hasn’t been a single valid transaction processed via the account, e.g. the merchant has not executed any payment with his/her myPOS card, the merchant has not executed any money transfer or the merchant has not received any inbound transfer.
- No-acquiring Fee: The merchant hasn’t accepted valid card payments for at least 50.00 EUR/ 50 GBP/ 50 BGN / 50 CHF (based on the underlying currency of the merchant’s main myPOS account) for a period of 10 consecutive months.
2. Will I be affected by these fees?
If you do not fall into any of the above-mentioned categories, you will not be affected by these fees.
3. How can I avoid paying these fees?
- Stay in good standing: Send us the information or documents, which we have requested from you. We need to comply with strict laws and regulations for due diligence when providing you with the myPOS Service;
- Avoid inactivity for long periods: Use the myPOS Services - use your myPOS card, use your myPOS terminal, use your account and make at least 1 valid transaction.
- Avoid no-acquiring: accept valid cards payments via your POS terminal or with your myPOS online account (online transactions).
4. If I have to pay one of these fees, will you notify me in advance?
Yes. You will be notified in advance a minimum of 2 months before such fees are applied. So, you will have enough time to take measures to avoid and prevent them.
5. How can I prevent the application of such fees?
No worries, you can easily stop being charged with such fees.
If you notice that you are being charged such fees, check your account status and check if you have omitted sending us documents or information, which has been requested by us.
Check your history for your last valid transaction. If it is an Inactivity Fee - make a valid transaction. If it is a No-acquiring Fee - use your POS or online payment acceptance to accept card paymentss via the myPOS Service.
If you still can not determine why your account is being charged with such a fee and you need help, please contact us directly.
6. Why are these fees needed?
The fees aim to stimulate our customers to actively use the services provided in our platform. Having a large number of inactive clients increases our operational costs for maintaining the platform and hampers the roll-out of new and useful payment solutions and products which we can offer to all our clients. We have introduced these fees in order to accommodate the expenses related to data and risk management, systems support and to be able to continue providing for free the innovative and rich functionalities for the active users of the platform.
In comparison to banks, we do not use your and other clients’ funds for business purposes such as granting credit. We safeguard your money with reputable banks as required by the law, which creates additional costs for us. We benefit only when you actively use the myPOS Service to make transactions.
7. What happens if I fall into more than one of the described categories - will I be charged multiple times?
No. Only one of these fees will be applied if you happen to fall into more than one of the special circumstances. The fees are set with the following priority:
- No-cooperation Fee
- Inactivity Fee
- No-Acquiring Fee
8. Can my account be brought to a negative balance or overdraft because of such fees?
No, these fees are applied only and as long as you have a balance in any of your myPOS accounts.