Purchase Power Fees Explained
Purchase Power Fees Explained: Transaction fee, Late payment fee, Daily Interest, Returned Payment Fee, Overlimit fee.
Transaction Fee: A transaction fee is applied anytime postage is added to your meter. The amount charged for each transaction fee is determined when the Pitney Bowes contract is signed. Note: Under HMRC regulations these charges are zero rated (for VAT).
Late Payment Fee: A late payment fee is applied when the 'Minimum Payment' due is not received by the due date. When making payment please allow 5 working days for your payment to reach us.
Daily Interest: Daily interest is applied to your account if the balance is not paid in full by the due date. Interest is calculated from the date a transaction occurred.
Overlimit Fee: An overlimit fee is charged when the account balance exceeds the Purchase Power credit limit. The calculation for the overlimit fee is 1% of the amount that exceeded the credit limit (minimum fee £10, maximum £100). The account credit limit can be found in top right-hand corner of the Purchase Power invoice.
💡 Tip: Avoid incurring multiple fees by downloading enough postage to last you a month or quarter, depending on your business needs.
Late Payment Fee: A late payment fee is applied when the 'Minimum Payment' due is not received by the due date. When making payment please allow 5 working days for your payment to reach us.
💡 Tip: Avoid incurring Late Payment Fee's by setting up a Direct Debit
Daily Interest: Daily interest is applied to your account if the balance is not paid in full by the due date. Interest is calculated from the date a transaction occurred.
Overlimit Fee: An overlimit fee is charged when the account balance exceeds the Purchase Power credit limit. The calculation for the overlimit fee is 1% of the amount that exceeded the credit limit (minimum fee £10, maximum £100). The account credit limit can be found in top right-hand corner of the Purchase Power invoice.
💡 Tip: If your account frequently exceeds the credit limit consider requesting a Credit Limit Increase that will accommodate your monthly business needs.
UPDATED: 22 June 2023