You can set-up default fee settings, which will automatically be assigned to all new member accounts. You can also modify the default fees charged to any member on each member's account.

Here's an explanation of the default fee settings:

  • Default Account Setup Fee - Amount charged in cash when a member signs up for a new account
  • Default Annual Renewal Fee - Amount charged in cash each year on the anniversary date the member first signed up for an account.
  • Default Annual Renewal Trade Fee - Amount charged in trade each year on the anniversary date the member first signed up for an account.
  • Default Credit Limit - This is the credit line automatically assigned to each new member when a new account is added. You can then change the credit line for each member to an amount appropriate for their type of business.
  • Default Monthly Trade Fee  - This is the amount in trade charged to each account each month for a monthly fee.
  • Default Monthly Cash Fee - This is the amount in cash charged to each account each month for a monthly fee.

Note: It is better to charge monthly fees than annual renewal fees, as it will help cash flow and minimize members closing their account because they must pay an annual renewal fee.

  • Default Trade Fee - Buy - Amount in trade charged for each trade purchase transaction.
  • Default Trade Fee - Sell - Amount in Trade charged for each trade sales transaction.
  • Default Cash Fee - Buy - Amount in cash charged for each trade purchase transaction.
  • Default Cash Fee - Sell - Amount in cash charged for each trade sales transaction.
  • Default Annual Trade Rate - The percentage of interest charged for negative trade balances. For example 12% will charge 1% per month if a member has a negative trade balance because they used their credit line.
  • Default Annual Cash Rate - The percentage of interest charged on past due cash fees that remain unpaid after the due date.
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