1. Home
  2. Uncategorized

Monetary option fees

Tremendous is able to offer most reward options, such as prepaid Visa cards and gift cards, for free.

A few options have associated costs. By charging a fee, Tremendous is able to offer options such as bank transfer (ACH), PayPal, and Venmo.

When setting up a campaign template, you can choose to add these fees to your order total or pass them to your recipients rather than paying them yourself.

How it works

You can choose to include monetary options (bank transfer, PayPal, and Venmo) in your campaign template by first selecting how you would like to handle the fees:

 

If you choose to add fees to your total, you will incur a 4% product fee (with a minimum fee of $0.25), which will be added at the end of the order flow. Your recipients can redeem any available option with no fees.

If you choose to pass fees to recipients, a 6% fee (with a minimum fee of $1.00 and a maximum of $25) will be deducted from their reward total only if they select a bank transfer, PayPal, or Venmo payout. You must include at least one ‘no fee’ option so that recipients have the option to redeem the full reward amount without fees.

Recipient experience

 

FAQs

  • If I pass fees to recipients, what are the fees?

    Recipients will incur a 6% fee, with a minimum fee of $1.00 and a maximum of $25, only if they select a bank transfer, PayPal or Venmo payout. They will not be charged a fee if they select a “no fees” option, such as a prepaid card or gift card.

    Payouts sent in non-USD denominations have the following minimums and maximums:

     Reward denomination  Fee   Minimum fee  Maximum fee
    USD 6% USD 1.00  USD 25
    GBP 6% GBP 1.00 GBP 20
    EUR 6% EUR 1.00 EUR 20
    CAD 6% CAD 1.50 CAD 35
    AUD 6% AUD 1.50 AUD 35
    JPY 6% JPY 160 JPY 4000
    Others 6% USD 1.00 in local currency USD 25 in local currency
  • If I pass fees to recipients, are there any fees charged to me?

    Clients who choose to pass fees to recipients do not pay any product fees. You will continue to be charged 3% if you chose credit card as your payment method.

  • If I choose to cover fees, what are the fees?

    Clients will incur a 4% product fee which will be added to your order total at checkout.

  • Why do I have to add a ‘no fee’ option to my campaign if I choose to pass fees to recipients?

    Tremendous policy requires senders to always offer free options so that recipients can redeem the full value of their reward.

  • Why do I incur a 4% fee just for offering a monetary option? What if my recipients don’t select that option?

    Recipients can select from any reward option you make available to them. Since we do not know which option your recipients will select, the fee is charged upfront to cover any potential costs. You can either pass the fee to the recipient or offer only ‘no fee’ options to avoid any fees.