Paysafe ACH rates (US only)
Please Note: Paysafe ACH Direct Debit is currently a feature in BETA stage. While some issues may be encountered when using this feature, we appreciate patience and understanding while this feature is being worked on
Any transaction that takes place in the merchant (club) account, either successful or declined.
Charged when Paysafe sends a settlement. Settlement happens daily as long as there is something to settle. A settlement is when the merchant receives the funds in their bank account. This fee is charged per settlement and per day.
When a transaction FAILS because of insufficient funds, incorrect bank details or any other reason where the debit from the member bank account is unable to take place.
Paysafe Credit Card Rates
|Europe||N/A||Click Here||2.79% + €0.25/txn|
|UK||N/A||Click Here||2.79% + €0.25/txn|
|US||Studio/Gyms||Click Here||2.75% + $0.20/txn|
|PT's||Click Here||2.90% + $0.30/txn|
|CA||Studio/Gyms||Click Here||2.75% + $0.20/txn|
|PT's||Click Here||2.90% + $0.30/txn|
Chargebacks, Retrievals, Reversals and Failed Txn Fees
|Region||Chargeback||Retrieval||Reversal||Failed Txn Fee|
- Personal Training = Portals between 1-50 clients
- Studios = Portal between 51-300 clients
- Clubs = Portals with +300 clients
Are there any limits of transactions that can be done?
No, however unusual or atypical transactions like sudden rise of balance, or transactions from the flagged or suspicious account will be held back by the Risk Management team, in which case the club will be contacted by this department or the bank itself.
Do members get notified about the transaction?
No, they don’t get notified. That is really up to the member’s bank if the bank has that feature.
Does the club receive notifications of failed transactions and Direct Debit Returns?
The club can enable scheduled reports to receive notifications of various types of transactions such as Direct Debit Returns. To do that, go to they Paysafe Portal (Back Office) > Reports > Scheduled Reports > Add Report and select Direct Debit Returns. Then just adjust the parameters and enter the notification email.
Yes, the club will be charged the Return Fee each time until the bank blocks the transaction. Therefore, it’s recommended to contact the member after one failed transaction before attempting the payment again.
However, the club can contact firstname.lastname@example.org to enable Velocity Rules. This will prevent several attempts to happen within a specific time frame. For example, the club can request that an account can only be sent one transaction request every 2 weeks.
How can I transfer the funds from Paysafe to my bank account?
This is called the funding process and this process is automatic. Clubs usually get a funding time based on risk assessment. The standard funding time for Virtuagym clubs is 2 business days for both Credit Card and Direct Debit Accounts. Paysafe sometimes increase that funding time at the club request and after assessment. What this means is that if a club processes a Direct Debit transaction on Monday, those funds are only then transferred to the club’s bank account on a Wednesday. The money will be visible in the bank account 3 days after the settlement has been done.
How often do I have to pay the Payment Fee?
The settlement fee or “payment fee” is charged every time a club processes payments and they settle (go to the bank for transfer). Normally, processed payments are settled in the same time frame of the batch that was executed. This means that if a client executes payments every 15 days, the client will be charged 2 payment fees after both batches of transactions settle.
Will a failed transaction result in a delayed settlement?
No, it will just be taken out of the batch and the club would have to execute that transaction again. It’s recommended to validate with the member why the transaction failed before executing the payment for a second time and avoid extra fees.
If a member has insufficient funds, will that show in Virtuagym too?
No, the only way to find out if a client has insufficient funds is after a transaction has been executed, in which case the invoice will show a failed transaction.
To find out why the transaction failed, go to your paysafe portal and run a report to see more details of the transaction.