Monetary reward options

Monetary reward options

Tremendous offers several monetary redemption options:

Monetary options are not included for recipients by default. To enable monetary payout options:

1. Select Actions > Edit products on the desired campaign template, then locate the Monetary options section.
2. Click Set up.
3. Follow prompts to configure monetary options for recipients.

Requirements for International bank transfers

Tremendous must collect some information about your business, including your tax ID or business registration ID, before you can send bank transfers to recipients located outside the USA. If you already provided your tax ID or business registration ID during account verification, you don’t need to submit it again.

To add or update your tax ID or business registration ID:

1. Navigate to the Team settings > Team profile tab of the dashboard. Account admin permissions are required to access team settings.
2. Next to Profile settings, click Edit.
3. Add your tax ID or business registration ID and click Save.

Once the required information has been submitted, the international bank transfer product can be added to your campaign templates.

Monetary option fees

Most reward options, such as prepaid Visa cards and merchant gift cards, have no related fees. However, monetary options have associated costs applied as a product fee on top of the cost of the reward. If you plan to send rewards with monetary options, you can choose to either add these fees to your order total or pass them on to recipients.

When setting up a campaign template where premium options (bank transfer, instant debit transfer, PayPal, Venmo) are enabled, you'll select how to handle associated fees:

• Add fees to your order total: a 4% fee is added to your total order amount. The minimum fee per reward varies with the product as explained in the table below:

  Product	Fee per reward	Minimum fee
  Instant debit transfer	4%	$0.25 USD
  Cash App	4%	$0.25 USD
  Venmo	4%	$0.25 USD
  PayPal	4%	$0.25 USD
  Bank transfer (USA)	4%	$0.25 USD
  Bank transfer (GBP)	4%	$0.50 USD
  Bank transfer (EUR)	4%	$0.50 USD
  Bank transfer (AUD)	4%	$1.00 USD
  Bank transfer (BRL)	4%	$2.50 USD
  Bank transfer (CAD)	4%	$1.25 USD
  Bank transfer (INR)	4%	$1.50 USD
  Bank transfer (MXN)	4%	$1.75 USD

• Pass fees to recipients: a 6% fee is deducted from their reward amount if they choose a monetary option. Minimum and maximum fees vary depending on the reward currency:

  Currency	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 you opt to pass fees to recipients, you must include at least one ‘no fee’ product so that recipients have the option to redeem the full reward amount without fees.

FAQ

• Clients who pass fees to recipients do not incur product fees. However, you will still be charged a 3% nonrefundable processing fee if paying by credit card.
• Tremendous policy requires senders always provide at least one fee-free option, allowing recipients to redeem the full reward value.
• The fee covers potential costs upfront, as recipients can choose any available redemption option. You can avoid these fees by either passing fees to recipients or offering only fee-free options.