What is the difference between transaction fees and service fees?
An example of an AI chatbot conversation about transaction fees and service fees.
What is the difference between transaction fees and service fees?
Transaction fees are charges for processing a payment, while service fees are charges for providing a service.
Can you give me examples of each?
Sure! A transaction fee might be a percentage taken by a payment processor, while a service fee could be a flat rate for using a platform.
Are these fees negotiable?
Yes, in some cases, especially for businesses, transaction and service fees can be negotiated with providers.
How do these fees affect my overall costs?
They can significantly impact your total expenses, so it's important to understand both when budgeting.
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