Q: What’s processing fees

Understanding Processing Fees on Efrelance

When adding funds to your Efrelance balance or making transactions, it’s important to be aware of potential processing fees. Here’s a breakdown of what you need to know:

1. What are Processing Fees?
   • Processing fees are additional charges applied to transactions to cover the cost of handling and processing payments. These fees can vary depending on the payment method and the amount of money being transferred.
2. Types of Processing Fees
   • Payment Method Fees: Different payment methods (e.g., credit cards, debit card or bank transfer) may have varying fees associated with their use.
   • Currency Conversion Fees: If you are making a payment in a currency different from your account’s default currency, a currency conversion fee may be applied.
   • Service Fees: Some services or transactions on Efrelance may have their own specific service fees.
3. How Processing Fees are Calculated
   • The exact amount of the processing fee can depend on several factors, including the payment method used and the amount being transacted. It’s typically a percentage of the transaction amount plus a fixed fee.
4. Where to Find Information on Processing Fees
   • Detailed information about processing fees can usually be found during the checkout process. Before completing a transaction, look for a breakdown of costs that includes any processing fees.
   • You can also check Efrelance’s help center or FAQs for general information about fees associated with different payment methods.
5. Example
   • For example, if you are topping up your balance with $50 using a credit card, you might see a processing fee of 2.9% plus $0.30. This means the total cost would be $50 + (2.9% of $50) + $0.30.

Steps to Check Processing Fees During a Transaction

1. Select Payment Method
   • When you’re at the checkout page, select your preferred payment method. The system will automatically calculate the applicable fees.
2. Review Fee Breakdown
   • Before confirming your payment, review the fee breakdown. This section will show the processing fees along with the total amount you will be charged.
3. Confirm Payment
   • If you agree with the fees, proceed by confirming your payment. The processing fees will be deducted along with the payment amount.

By understanding and anticipating processing fees, you can better manage your transactions on Efrelance and avoid any surprises. Always review the fee breakdown before finalizing any payments to ensure transparency and clarity.