The monthly fee covers a certain amount of online transactions (decided at sign-up), i.e. you do not pay a transaction fee for those. This could, for example, be 350 free online payments a month. Beyond this quota, you pay a premium – typically 10p – on top of a base transaction rate, also determined when signing up.
There is a mix of transaction fees depending on the type of card being used and whether currency conversion occurs. Foreign, premium and corporate cards typically cost more to accept, whereas domestic Visa and Mastercard debit cards cost least.
All packages come with 12 months’ lock-in that has to be cancelled at least two months before the end of the contract – otherwise, it renews for another year. If you want to exit the plan before the 12 months, an early cancellation fee applies, which is typically the cost of the remaining contract.