This Policy was last modified on January 01, 2013.
The following fees apply to all MonsterPay accounts, except as noted. MonsterPay's fees are also listed in the Fee Schedule, available on the MonsterPay website.
- Sending Payments. It is free to send money to another user, regardless of the funding instrument used for the payment. The recipient will be charged according to the Fee Schedule.
- Receiving Payments. All MonsterPay accounts will be charged according to the Fee Schedule.
- Withdrawing Funds. All MonsterPay accounts will be charged according to the Fee Schedule.
- Adding Funds. There is no fee to add funds to your MonsterPay account from a bank account.
- Chargeback Fee. To cover the cost of processing chargebacks, MonsterPay assesses a chargeback settlement fee to sellers who are determined to be at fault for credit card payment chargebacks. (A chargeback, or reversal, occurs when a buyer rejects or reverses a charge on his or her credit card.)
The chargeback settlement fee of R150.00 (South African Rand) will be charged.
- Verification Fees.In general, there is no fee to join MonsterPay. However, some users, at MonsterPay's discretion, may be charged a Verification Fee between ZAR1.00 to ZAR1.99. After you have successfully entered your Verification Amount, your MonsterPay account will be credited with the same amount.