Enabling Monthly Fee Billing

By default, processing fees are debited prior to completed payments being paid out. This results in the net amount being deposited into your bank account. Podium offers what’s known as Monthly Fee Billing. With Monthly Fee Billing, the gross amount is deposited into your bank account and you are then billed in one lump sum at the beginning of the next month for all processing fees. Setting this feature up is easy and should only take 5-10 minutes.

  1. Click on Payments.image__10_.png
  2. Click on Payment Settings.image__4_.png
  3. Click on Payments Accounts.image__5_.png
  4. Click on the bank account you’d like to switch over to Monthly Fee Billing.image__6_.png
  5. In the Transaction Fees section, click on Pay once a month.image__8_.png
  6. Click on + Link another bank account.image__12_.png
  7. A small window will pop up informing you that we utilize Plaid to make this following flow simpler.Click Continue.                                                                                                    7.jpeg
  8. Choose either Instant (Recommended) to log into your bank account using your username and password or Manual to enter in account and routing number details. choose_type.png
  9. When choosing Instant, choose your bank from the list. If your bank doesn’t appear, then you will be able to choose Manual. Once you log in, this will complete the setup process.8.jpeg
  10. If your bank appears on the list, click on your bank and follow your bank's login process. This will complete the stop process.9.jpeg
  11. If you choose to link with account numbers, the next few screens will prompt you to enter your account numbers. Once you have entered the routing and account numbers, two micro-deposits ( < $0.99 each) will be deposited into your account within the next day or so. Once you see these two amounts, you will need to navigate back to this page to complete the setup.