FAQ: Fee & Pricing.

  1. How many locations under the PLH’s license in the USA are we allowed with starter package and Pro packages for sending? Can more be added without upgrading to the next higher package?
  2. Out of the referral fee (€ 28,000) and non-refundable application fee (€ 1,500), what is the monthly or yearly service charge from the license holder?
  3. Does this service require us to pay monthly fees or we are required to market the app and bring customers on board or both?
  4. What will be the cost if we will develop our App and Web and just pure API integration?
  5. How much is start-up and monthly cost and is there a Revenue sharing model?
  6. What is the breakdown of monthly recurring costs for RaaS and is there a minimum monthly cost?
  7. Your fee for new US MTL applications is very high. What do you provide in this service?
  8. How will the new UK/EU integrations affect our pricing?
  9. Can we fix the rate entirely throughout the chain till the beneficiary? What role does your company play in the FX rate fixing?
  10. Have you prepared the pricing for the UK/EU subscription? (including all cost components affecting the unit transaction costs?)
  11. From what we understand and know, there should be a person/company in the US who provides services on legal compliance issues. Do you include this service with the indicated monthly price?
  12. Since your company only contacts, arranges, and opens the door to negotiate; is it possible to negotiate with the company willing to work with our company? What happens if an agreement is not reached on the issue of prices or for any other issue? Is the payment for your services reimbursed 100%?
  13. For us to be able to commit about +/-$10,000 to 20,000 with your “Starter” plan, are the costs in the examples you gave only examples, or are they actual costs?
  14. In case of not reaching an agreement, the payment for your services are reimbursed 100%, except the initial $750
  15. There are a merchant account application processing fee and solution provider one-time fee. Are these two different parties?
  16. Ria Money Transfer is beating the pricing structure you have listed on your website. This means I pay no more than $3-$4 when sending by bank account to India. What do you say about this?
  17. What is the current ongoing rate of the dollar you offer for Euro (CFA) Cedi, Naira through your scheme?
  18. For your one-time consultation (referral) fee could we ask you for a break on it?
  19. The $5,000 monthly fee is for whom?
  20. What is the original $25,000 fee for?
  21. Why do we have to pay you (Faisal Khan, LLC) the monthly fees for banking and why not the bank?
  22. When is the referral fee due? Is it due once we are connected to a financial institution and an account has been opened with them?
  23. Is it possible to move from the Starter package to Pro, and Enterprise as volumes grow and then only pay the incremental one-off fee?
  24. Can we increase our deposit for the RAAS service starter package?
  25. How much does the Remittance-as-a-Service (RaaS) cost?
  26. Barring your referral fees, realistically what is the most minimum amount we can start a money transfer business with?
  27. How much money would I need to start a RaaS business?
  28. How much commission do you charge for finding a service provider for remittance-as-a-service?
  29. What does the ‘introducer’ fees include?
  30. Why do I have to put up the pre-funding money?
  31. Is it possible to get the interbank (mid-market rate)?
  32. Why do the rates vary for the Starter package versus the Enterprise package?
  33. Is there a discount for startups?
  34. How do I calculate my monthly costs?
  35. Can I increase the number of payout countries while opting for the Pro or Starter package?
  36. What happens if we want to switch to another pricing plan offered by the same solution provider?
  37. Can I request to be shifted/moved to a different pricing plan which would be more suitable for me?
  38. Your fee structure is a little bit confusing, can we get more clarity on the charges that would be applicable?
  39. We have paid US$ 25,000 to another solution provider, is there a way to work with you, without having to pay your fee?
  40. Would you consider lowering your referral fee and terms and we can pay the remaining after the launch?
  41. Can I write “To be determined” or “To be negotiated” in the Term Sheet Consideration?
  42. What does the fee schedule look like?
  43. How long does the leasing period last?
  44. How long does contract negotiation usually take?
  45. Does your price quote cover the complete plan of Partnership License acceptance and execution?
  46. What is the timeline followed by your company after you accept a potential client?
  47. What is the timeline to pay the referral fee?
  48. What is the consultation and facilitation fees offered by your company?
  49. Can I pick and choose a few US states for which we require money transmitter license coverage? If so, how does the pricing work?
  50. Would the financials be in line with the expectations we have set in the term sheet?
  51. Before we sign with your company, are there any reference projects we can see to help us make a decision?
  52. Is there a monthly fee charged by the Principal License Holder?
  53. Is there any monthly fee if I avail Remittance As A Service?
  54. What are the next steps once I pay the referral fees?
  55. Do you have any list price for regulatory coverage for each US state to help us pick our “Must-have States”?
  56. What documents do you need from us before we sign up to be your client?
  57. Once we are ready to sign and go ahead, how long does it take for the contract to start?
  58. Other than your one-time referral fees are there any other charges?
  59. Who sets the forex rate ? Is it the principal license holder or me as the business owner?
  60. How much would the service provider charge for a money transmitter license?
  61. What does it mean to “lease” a license and what services does your company (Faisal Khan & Co) provide for the fee you charge?
  62. What happens if we decide not to move forward with the agreement?
  63. Is there a price list for renting each state money transmitter license?
  64. What is the cost breakdown for your E-Wallet services?
  65. What is the rate for your services?
  66. How long does the process of signing the contract last?
  67. Is there a break down of the payment schedule and process of the amount that you quoted?
  68. How can I gain access to regulatory coverage for Canada?
  69. Once I sign the referral agreement, what should I expect next?

This page was last updated on April 13, 2023.

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