Just like other POS machines, PalmPay charges different fees when you use their POS machine to perform transactions like cash withdrawal, fund transfer, cable subscription and so on.
A look at the charges, will help you decide how much commission you will be charging your customers, if you are using Palmpay POS for POS business. If you just want to use the POS machine to collect payments for your business, you also need to check their charges to know if they are friendly to you.
PalmPay POS Withdrawal Charges
PalmPay charges 0.5% fee for any withdrawal made with their POS machine (whether android or traditional type).
This simply means that you will be charged ₦5 fee for withdrawing ₦1000 with the PalmPay POS machine.
Illustratively, 0.5/100 x N1000 = N5. Where 0.5% is the Palmpay withdrawal charges and ₦1000 is the amount you want to withdraw. With this formula, you can easily calculate the withdrawal charges for any amount you want to withdraw using the PalmPay POS machine.
The table below summarizes PalmPay POS withdrawal charges for selected amount of money
| S/N | Withdrawal Amount | Charges |
| 1. | ₦1,000 | ₦5 |
| 2. | ₦5,000 | ₦25 |
| 3. | ₦10,000 | ₦50 |
| 4. | ₦15,000 | ₦75 |
| 5. | ₦20,000 & above | ₦100 |
N/B:
Any amount that you withdraw with the PalmPay POS machine that is above ₦20,000, you will only be charged ₦100 flat rate. That means if you withdraw ₦400,000 or even more, you will only be charged ₦100 withdrawal fee.
PalmPay POS Deposit Fees
PalmPay only charges ₦10 fees for all deposits irrespective of the amount you want to deposit. This means that you will only be charged ₦10 deposit fee for any amount you want to deposit with the PalmPay POS machine, be it ₦1,000, ₦10,000 or even ₦200,0000.
PalmPay POS Charges for Data Top Up
- 9Mobile: 4.5% fee
- Airtel: 4% fee
- Glo: 4% fee
- MTN: 3% fee.
PalmPay POS Charges for Cable Subscription
- StarTimes: 2%
- GOtv: 2%
- PHCN: 2%
- DStv: 2%
PalmPay POS Transfer Limit
PalmPay has transfer limits for different account types. They are detailed below:
- Tier 1 – This account can only hold ₦300,000 in the balance with a daily transaction limit of ₦50,000
- Tier 2 – This account can hold up to ₦500,000 in the balance with a daily transaction limit of ₦200,000
- Tier 3 – This account can retain ₦5,000,000 in the balance with a daily transaction limit of ₦1,000,000
PalmPay Customer Care
For questions, inquiries or assistance do not hesitate to contact the PalmPay customer care unit via phone call on 017005700 (Nigeria) or 0800725644 (Ghana). Better still you can message on this email address support@palmpay.co.
