November 22, 2008, Saturday, 326

Fee

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A fee is a sum of money that is charged for a Bitmunk service or external service.

There is no fee for signing up or maintaining a user account with Bitmunk. Bitmunk only charges you a fee on a per transaction basis. The transaction fee for Bitmunk is 15% of the total price of the transaction or 15 cents (whichever is greater).

External fees on Bitmunk include the sale price of a ware (sellers), royalties (artist[ and labels), a fee for providing extra bandwidth for a transaction (ISPs), a fee for depositing money via credit card (Visa), and a fee for withdrawing money into your bank account (banks).

When you purchase a ware (i.e. a song) on Bitmunk, the total price will include Bitmunk's fee of 15% or 15 cents, the seller's price for the ware, the artist and/or label's royalties for the ware, and possibly a fee from your ISP. You will see all of these individual fees and the total price so you always know where your money is going.