Online Invoice Payments fees
MYOB charges 1.8% plus 25c for Online Invoice Payments. If I start using Online Invoice Payments will my bank also charge me a credit card processing fee on top of that?
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Hi CNC2065
The fees associated with MYOB's online invoice payments can be found on Help Article: Fees and charges for online payments.
Note: Your bank may have additional charges associated with those and it is recommended that you do speak to your Bank in relation to those.
The link explains that the MYOB transaction fees are added to our invoice but how does MYOB pay the invoiced amounts collected to us & how often? Are the amounts collected deposited to our bank account as a bulk payment?
Hi CNC2065
Generally speaking, customer payments will be deposited within 1-2 days* on the nominated bank account in bulk. Some payments and banks work on a slightly different schedule.
*Days that the Banks are open i.e. weekends and public holidays, deposits are typically not made, however, they are collated and deposited on the next business day.
