What are Payluk’s fees?
Updated
Short answer
The escrow fee is 2.5% of the escrow amount for personal accounts. For merchants, Payluk charges 2%, and the merchant may add its own commission on top. Withdrawals to a bank cost a small flat fee (₦10, ₦100 or ₦50 depending on the amount) plus 7.5% VAT on that fee. Bank-transfer deposits and transfers between Payluk wallets are free.
Escrow fee
Personal accounts pay 2.5% of the escrow amount.
For merchant (business) escrows, Payluk charges 2%. A merchant can add its own commission on top. That commission goes to the merchant, and the total fee is always shown before the buyer pays.
Each escrow says who pays the fee: the buyer, the seller, or both (50/50). The fee is worked out when the escrow is created, and you see the full breakdown before you pay.
A merchant can also add a separate delivery or handling fee to an escrow. That amount goes to the merchant in full, and Payluk takes no cut of it.
Withdrawal (payout) fees
Withdrawals to a Nigerian bank account cost a flat transfer fee plus 7.5% VAT on that fee. The fee is added on top of the amount you withdraw, so your bank receives the full amount you asked for.
- Up to ₦5,000: ₦10 + VAT
- ₦5,001 to ₦50,000: ₦100 + VAT
- Above ₦50,000: ₦50 + VAT
- Minimum withdrawal: ₦1,000. For example, withdrawing ₦1,000 costs ₦10.75 in fees, and ₦1,000 lands in your bank.
Deposits and transfers
- Bank transfer into your Payluk account: free
- Card top-up: 1.5%, plus ₦100 for amounts above ₦2,500
- Transfers between Payluk wallets: free
Volume discounts
We don’t publish volume tiers. Businesses with high or predictable volumes can contact [email protected] to discuss pricing.