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How to Calculate Your Pinwheel Monthly Fees
- Here is the simple formula to calculate your monthly fees.
- The monthly minimum fee will reduce with every sale each month and reset ever month
- Processing fees are calculated as follows:
- .0060 multiplied by total processing volume.
- $0.10 per transaction multiplied by total transactions ( approved and declined )
- $50.00 monthly minimum
- Example
- .0060 * $1000.00 = $6.00
- $0.10 * 10 transactions = $1.00
- $50.00 monthly min – $6.00 – $1.00 = $43.00 new monthly minimum.
- Now your fees are broken down in 3 parts.
- Discount rate fees = $6.00
- Per transaction fee = $1.00
- New monthly Min fee = $43.00
- Total invoice will be $50.00
- The invoices can be found by Login to Pinwheel https://paybypinwheel.com/ with the assigned username and password.
- On the left hand side of the menu, click Invoices, then click on the Invoice ID to see the breakdown for the fees the past month.
- Pinwheel will bill your monthly fees on the 1st of each month, for the previous months of service.
- Please note, if you close your account, this must be done in writing from the email address on file for the gateway account.
- If the account is closed after the 7th of the month, a full month of service will be billed. You can send a copy of the debit to support@pinwheelpay.com to have a partial pro-rated refund for the days after the closure date.
