Fee Free Transfer
A Fee-Free Transfer is analogous to Customer Coupons, with the distinction being that it is applied to transfer fees. Coupons, on the other hand, provide additional funds to the beneficiary. Under the Fee-Free Transfer policy, you have the ability to customize the number of transactions that qualify for fee exemptions and specify the expiration date.
If your app or web portal doesn't have the option to use this feature, please reach out to the developer. Adding the this feature is an add-on, so you'll need to ask the developer to include this functionality.
In Remit Milky, you can create fee-free policies for specific customers or specific corridors, providing flexibility in how fees are applied. This feature allows you to tailor the fee structure based on individual customer needs or specific transaction corridors, ensuring a more personalized and competitive service offering.
Fee-Free Policy for Specific Customers
A fee-free policy can be applied to a particular customer, exempting them from transaction fees. This is useful for high-value clients, promotional offers, or special cases where the company wants to incentivize transactions without applying the usual fees. The policy can be applied based on:
Customer Type: Specific customer segments can be selected for fee waivers (e.g., loyal customers, corporate clients, or VIP users).
Transaction Frequency: Customers who frequently engage in transactions may receive fee-free benefits.
Promotional Offers: Customers can be given fee waivers as part of a promotional campaign.
Fee-Free Policy for Specific Corridors
You can also create fee-free policies that apply to transactions within certain corridors (countries or regions). This can help boost business in targeted regions by reducing the cost of transactions for customers sending or receiving money in specific corridors. The corridor-specific fee-free policy can be configured based on:
Sending and Receiving Countries: Fee waivers can be granted for transactions sent to or received from certain countries.
Transaction Volume: For corridors where large transaction volumes are expected, fee-free policies can encourage higher transaction activity.
Strategic Partnerships: If the company has special agreements or partnerships with certain regions or countries, the fee-free policy can be tailored accordingly.
Implementation and Management
Both customer-specific and corridor-specific fee-free policies are fully configurable within the system. You can define these policies by setting parameters such as:
Start and End Dates: Set the effective period for the fee waiver.
Conditions: Define conditions that trigger the fee waiver (e.g., based on transaction amount, frequency, or type).
Notifications: Set up alerts to inform customers when they are eligible for fee-free transactions.
By offering fee-free policies, Remit Milky provides a flexible and dynamic approach to pricing, allowing for customized customer experiences and enhanced business opportunities in targeted corridors.
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