Padlock Charges Calculator
Transaction Charges
At Padlock.ng, we offer competitive pricing for our secure escrow services, providing excellent value for both individuals and businesses. Our pricing structure is designed to be transparent and cost-effective, ensuring that you only pay for the services you need.
Here's a breakdown of our pricing:
1. Transaction Service Charges:
- Our transaction Service Charges are based on the total amount for the transaction. These fees are calculated as a percentage of the transaction amount. We charge a flat 1.7% of the transaction amount as a service fee. This ensures fairness and simplicity across all transactions.
2. Wallet Funding/Deposit Charges:
- These charges are incurred when you deposit money into your Padlock.ng E-Wallet. Hence this deposit charges on Padlock.ng may vary, depending on the funding method.
3. Withdrawal Charges:
- These charges are incurred when you decide to move your money from your Padlock.ng E-Wallet to another account, such as your bank or another payment service. The withdrawal fee on Padlock.ng is a fixed ₦100 for each withdrawal request.
This means that, regardless of the withdrawal amount, you will be charged ₦100 for each withdrawal transaction.
This flat fee structure simplifies the withdrawal charges, making it easier for users to understand and calculate the cost of withdrawing funds from their Padlock.ng account. It's important to note that such flat fees are often advantageous for users who make larger withdrawals, as the fee remains the same regardless of the withdrawal amount.
However, please keep in mind that fee structures can change over time
