How much is an excessive transaction fee?

The concept of excess transaction fees is a financial charge imposed on individuals or businesses that exceed a predetermined monthly transaction limit. It serves as a penalty for exceeding the agreed-upon threshold of transactions.

Once the estimated number of transactions is determined, businesses should compare it with their bank's monthly transaction limit. If the estimated number exceeds the limit, businesses should consider switching to a bank that offers a higher limit or a more suitable pricing plan.

Additionally, businesses can explore alternative payment methods that do not charge excess transaction fees. For instance, they can encourage customers to use electronic payments or mobile wallets, which often have lower transaction costs.

The amount of this fee can vary significantly depending on the banking institution. Among the 10 largest banks in the market, the range of excess transaction fees can extend up to 75 cents per transaction.

Among the many financial services available to businesses, cryptocurrency exchanges like BTCC offer a unique set of services that can help manage transaction costs. BTCC, a top cryptocurrency exchange, provides various services including spot trading, futures trading, and cryptocurrency wallets.