Chime foreign transaction fees: Complete guide
Everything you need to know about Chime's debit and credit card foreign transaction fees.
With the rise of ecommerce and online transactions, having a reliable and secure payment gateway is essential for businesses. One such payment gateway that has gained popularity in recent years is Braintree. It allows businesses to accept various forms of payment through Braintree POS.
In this article, we will take an in-depth look at what Braintree has to offer and why it may be the right or wrong choice for your business. We'll also discuss how Wise Business serves as a great international option for accepting and receiving payments.
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Overview | Description |
---|---|
Key Features¹ |
|
Main Fees² | Per Transaction Fees (0.75-3.49% + $0-$0.49 for non-PayPal transactions) |
Great For | Companies Looking to Integrate with Existing Services |
Trustpilot Rating³ | 1.1 Out of 5 Stars |
Braintree is a payment gateway, which means it is a technology that authorizes and facilitates online transactions between a customer and a merchant. Braintree payment gateway is owned by PayPal, which has lent its reputable and trusted name to back the payment processor. It has become one of the leading payment processors for businesses of all sizes. Braintree offers its services globally, just like PayPal does.
Here are the features that Braintree highlights on its site in its own words: ⁴
Capterra users rated Braintree 3.8 out of 5 stars in the Ease of Use category. For comparison, “popular alternative” Stripe scored 4.5 out of 5 stars in the same category.
Customer reviewers on Capterra found that the setup process, mobility of the service, and money management tools for splitting payroll made Braintree easy to use.
Service | Cost |
---|---|
Card & Digital Wallet Transactions>(Visa, Mastercard, Discover, JCB, UnionPay, Diners Club, and American Express cards, and digital wallets) | 2.59% + $0.49/transaction |
Charitable 501(c)(3) Organization Card Transactions>(Visa, Mastercard, Discover, JCB, UnionPay, Diners Club, and American Express cards, and digital wallets) | 1.99% + $0.49/transaction |
Card Transactions in Non-USD Currencies | 1% |
Card Transactions from Non-US Cards | 1% |
Chargebacks on Card Transactions | $15 |
American Express Transactions with Merchants who have an American Express Account | $0.15 |
PayPal and PayPal Credit Transactions | Subject to PayPal Fees & Conditions |
Venmo Transactions | 3.49% + $0.49/transaction |
ACH Direct Debit Transactions | 0.75%/transaction>(max fee of $5) |
Return Fee for ACH Direct Debit | $5 |
Unauthorized Fee for ACH Direct Debit | $5 |
Braintree is notable to customers for its mobility. With mobile platform and desktop functionality, you are free to use Braintree wherever you see fit. This makes it a great choice for businesses that need their financial managers to travel away from headquarters often.
Being backed by PayPal is also a great perk of Braintree. They aren’t upfront about this, but you may likely have better rates for PayPal transactions. This makes Braintree a good option for businesses that make a good part of their sales from PayPal payments.
Braintree also has the benefit of payouts, which allow you to pay employees, contractors, freelancers, and more. They also help you split payments between employees. This helps you keep all your payments in and out in one place, which helps you stay on top of finances.
While they are comparable to other services, Braintree transaction fees should not be ignored as a potential disadvantage. It’s especially important to note the foreign transaction fee, which may come up more often for some businesses than others. Plus, there is a Braintree charge AmEx users only receive, and Braintree ACH pricing isn’t as good as other services.
Wise Business can help you save big time on international payments.
Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.
Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.
Some key features of Wise Business include:
Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers
Global Account: Send money to countries and hold balances in multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local
Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account
Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met
Free invoicing tool: Generate and send professional invoices
No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here
Braintree Payments is a payment gateway that allows businesses to accept online payments securely and seamlessly. Braintree offers its services to merchants in various industries, including ecommerce, travel, subscription-based businesses, and more.
Braintree payment processing is the process of securely transferring funds from a customer's account to a merchant's account. It offers various payment options, including Braintree credit card processing and debit card processing, as well as PayPal, Venmo, digital wallet, and ACH Direct Debit processing.
Braintree is a subsidiary of PayPal, which is one of the most well-known and trusted payment processors in the world. This fact alone speaks to Braintree's legitimacy. Additionally, Braintree follows strict security protocols and has many certifications, making it a highly trustworthy payment gateway.
This question depends on what you’re looking for from a financial service. But the consensus around Braintree is that other options on the market work better for most needs.
Sources used :
Sources last checked on 2-February 2024.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Everything you need to know about Chime's debit and credit card foreign transaction fees.
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