When using Bancoli to make a transfer, it's essential to understand the different fees that may be applied depending on how the transfer is made. This is known as Transfer Composition.
When a buyer wants to pay a seller, they have two options:
- Option A, where they use their existing funds in Bancoli.
- Option B, where they use their Guaranteed Invoices (GI) to complete the amount if their regular cannot cover the transfer amount in question.
The Early Access Fee is a charge for accessing the GI funds before they become available. This fee only applies to users with Starter and Plus plans and is calculated based on the remaining time until the GI matures.
The Transfer Fee is a charge that Bancoli applies to each transfer between buyers and sellers. The amount of the Transfer Fee depends on whether the recipient is a Bancoli Business or not and if the transfer is local or SWIFT.
Related information: Understanding Transfer Fees