Transaction Fee

A transaction fee can take form in a number of ways. When a person purchases products of services online they make an ‘online transaction’ which will typically incur a fee. Depending on the type of online payment process set up, websites who authorize online payments will either charge commission or take commission as remuneration for the transaction service. With regards to banking, a transaction fee is where a bank imposes a charge for performing a monetary movement or other banking related transaction.