When are you billed for the NMI payment gateway?
NMI (Network Merchants LLC, DBA Network Merchants, Inc.) is the go-to payment gateway for many of our high-risk accounts. Their knowledgeable customer support team is always happy to help whenever needed.
One question that pops up frequently though, is: When can I expect to be billed for my NMI gateway?
The NMI payment gateway’s billing schedule
Typically most accounts are billed during the first five days of the month — for the preceding month’s fees. This includes the monthly fee, per item fees and any optional services you may have ordered, like iSpy Fraud detection or electronic check processing. Fees are automatically drafted from your checking account on file at NMI. Be sure to keep enough money in that account to avoid any potential overdraft fees —as of the time of this post $25 per overdraft — not including what your bank might charge!
Keep in mind, as your volume grows over time, you may see a mid-month billing when your account has accumulated $50 in fees. If more than one monthly billing makes it challenging for accounting purposes, let me know. We can often request that NMI change their billing cycle to only draft your fees once a month. Again, this only applies when you have more than $50 in fees during a calendar month.