Fintoc fees

Fee calculation

Fees are calculated live, and each product resource has an associated fee (i.e. each payment intent has a fee, each refund has a fee). To make sure what shows up in the API is the same as what shows up in your bank statement, fees + VAT are rounded to the smallest currency unit.

Step by step

A fee is calculated for each resource, based on your pricing plan.
The VAT is calculated as a percentage of this fee, depending on your country's VAT rate.
The fee + VAT add up to the total fee of each resource.
Finally, what is deducted from your payout is the total fee, rounded to the nearest currency unit.

Here is an example of the steps to calculate a single resource’s fee (for this example we are using CLP currency and a fee of 1.35%).

Resource type	Amount	Fee	VAT	Total fee	Rounded total fee
payment_intent	1000	13.5	2.57	16.07	16

*Fees and taxes are recalculated based on the rounded fee.

At the invoice level, the sum is direct and no rounding is necessary. The following table illustrates how we calculate the total amount that will show up in your end-of-period invoice.

For this example we are using CLP currency and a fee of 1.35% for payments. We are using 0.014 UF fee for refunds (UF value $36.730 CLP).

	Amount	Fee	VAT	Total fee	Rounded total fee
payment_intent_1	10000	135	25.65	160.65	161
payment_intent_2	2000	27	5.13	32.13	32
refund_1	10000	514.22	97.7	611.92	612
Invoice total		676.22	128.48	804.7	805

The total amount of the invoice will be the sum of rounded fees of the resources consumed by your organization in the past billing period. The total VAT of the invoice will be the VAT rate, calculated over the rounded fee.

VAT Rates

To calculate fees and end-of-period billing, a VAT rate is included over the fee. This amount varies based on your country.

Country	VAT Rate
Chile	19%
Mexico	16%