Fees

Pockyt Fee Schedule for Payees
When receiving payments through the Pockyt Wallet, there are some fees associated with transferring funds to your bank account. Here’s how it works:

No Setup or Monthly Fees:

• There are no upfront costs to register, and the usual application, setup, and monthly fees have been waived for you. So, you won’t have to worry about paying anything to get started.
  Same-Day Local Bank Transfers:

If you choose to receive your payout through a same-day local bank transfer, there is a $0.95 fee per transaction. This means that each time a payment is sent to your bank account on the same day, this fee will be deducted from the total amount.
Same-Day ACH Transfers in the USA:

• For payees in the United States, if you use Same-Day ACH (Automated Clearing House) transfers, the fee is also $0.95 per transaction.
  Currency Exchange (FX) Fees:
• If your payment needs to be converted to a different currency, a small markup will be applied to the currency exchange rate. This markup varies based on the amount being transferred:
• Below $5,000 USD: 2% of the transferred amount.
• Between $5,000 and $15,000 USD: 1.8% of the transferred amount.
  Above $15,000 USD: 1.6% of the transferred amount.

How You Receive Your Payment
The fees mentioned above are deducted from your total payment before it reaches your bank account. For example:

If your payout is $1,000 USD and you use a Same-Day Local Bank Transfer, you'll receive $999.05 after the $0.95 transaction fee.
If the payout involves currency exchange, the applicable FX markup will also be deducted.
This way, you’ll always know the net amount that will be deposited into your bank account.