Charges and limits
At Eversend, we strive to be as transparent as possible on all transaction fees/charges our users may encounter, so as to give them a good experience when they use our services.
Regarding virtual card service, below are the fees:
Virtual card creation fee: $0
Virtual card maintenance fee: $1 (recurring/monthly; i.e, starting from the first month you created a card with us, we shall debit you $1 and this will keep happening on every active or frozen card monthly)
What other fees should I be aware of?
Please note that you’ll be charged FX fees when you make non-Dollar-denominated payments via your virtual card or the country of origin for the online payment you are making is not the United States. For example, if you are making payments in a currency like NGN, EUR, UGX, GHS, you will be charged a cross-border (FX) fee because it is not a USD transaction even though you are paying with a dollar card.
Also, when you pay a US merchant in USD, you might encounter a cross-border (FX) fee. This happens when the merchant settles the payment outside the US. Unfortunately, this is beyond our control.
(Please refer to Eversend transaction fees.)If your virtual card payment gets declined due to insufficient funds (not enough balance on your virtual card to complete payment), a fee of $0.35 will be charged for every failed attempt.
Why are fees charged for declined transactions?
We want to explain why you may get charged a $0.35 fee for every declined transactions due to insufficient funds.
When a virtual card payment is declined, Eversend incurs charges from our virtual card processors on these failed payment attempts. The fee, as mentioned above, for declined transactions due to insufficient card balance is debited from the user so as to cover this charges we get from our card processors - we do not make any profit from this. Matter of fact, we reduced the charge to $0.35.
How can you avoid 'insufficient balance' fee?
Keep your Eversend virtual card sufficiently funded: Make sure you always have enough funds on your virtual card to cover both one-time and recurring online payments. Check your card balance regularly to ensure it adequately covers any of your intended spendings.
Manage recurring services: Review the recurring subscription services linked to your Eversend virtual card. If there are services you no longer use or don't plan to continue, remove or unlink your card details from those auto-renewing platforms. This way, you won't be charged for services you no longer need.
Other v/card penalties:
Your card will be temporarily frozen after three (3) initiated transactions with insufficient funds.
If there are up to five (5) instances of an attempted charge with insufficient funds and the card still has insufficient funds, your card will be permanently terminated.
Conclusion:
Remember, by maintaining sufficient virtual card balance and managing your recurring online payments, you definitely will have a smooth payment experience with your Eversend virtual Dollar card.
If you have any further questions or need clarifications, don't hesitate to reach out to us.