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Cumulative (Fee Schedules)
When setting up fee schedules, Cumulative lets you set up a tiered fee schedule that changes based on the tier level of the transaction. If your fee schedule is a single tier, changing Cumulative will have no effect on the fee charged.
Choose one of the following:
Yes: Fees are charged at a rate based on the tiers of the fee schedule. If the amount of the transaction is more than the lowest tier, the fees will first be charged up to that dollar amount, then any amount over will be charged at the second tier rate, and so on.
No: Fees are charged at the highest tier applicable to the transaction.
Let's say you set up the following rate tiers:
Your transaction amount is $300,000.
If Cumulative is Yes, the fee is calculated in the following way:
First Tier $100,000 X 0.5% rate = $500 Second Tier $100,000 X 0.25% rate = $250 Third Tier $100,000 X 0.15% rate = $150 Fee Charged $900
If Cumulative is No, the fee is calculated in the following way:
$300,000 X 0.15% rate = $150 Fee Charged $900
For more information on each of the tabs on the Fee Schedules page, see the following:
For more information on the process of setting up fee schedules, see Introduction to Fee Schedules.