Penny Inc. charges fees for transactions generated by cards issued through the Penny Inc. API. These fees are charged based on a particular fee structure. Over time, this fee structure may change due to operational requirements.

Fees are charged on a per transaction basis and apply directly to the wallet related to the card making the transaction at that point in time. Card limits do not account for transactional fees. Therefore a fee charged on a transaction will affect a wallet's balance however will not be reflected in the velocity amount remaining of a card within the Penny system.

Please find below the history of the fee structures that have been employed by Penny Inc.

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Interpreting Fee Tables
The tables below describe the conditions under which certain fees are charged. Fee applicability dates are based on UTC time (i.e. the start of that day UTC time).
Note that fees charged may differ to the schedule provided here based on specific client arrangements with Penny. Furthermore, only the first row (reading top to bottom) which matches a given transaction will apply to that transaction. For example, a 5 USD transaction after May 10 2024 with a non-domestic card acceptor will only incur a 1.5% surcharge and 0.50 USD flat fee.

May 10 2024 - Now

The base percentage rate of 1.5% will be increased to 2.5% for refunds with the following merchants: Walmart. Previous fees remain unchanged.


Non-zero amount refund transaction with any of the following merchants: Walmart	- 2.5% surcharge - 0.50 USD flat fee
Non-zero amount transaction with any of the following merchants: Walmart	- 1.5% surcharge - 0.50 USD flat fee
Transactions with a zero amount	No Fee
Transactions with a non-domestic currency code i.e. currency code different from card currency code	- 1.5% surcharge - 0.50 USD flat fee
Transactions with a non-domestic card acceptor i.e. card acceptor is non-US	- 1.5% Surcharge - 0.50 USD flat fee
All Other	No Fee

Nov 7 2023 - May 9 2024

Based on analytics data collected over several months, Penny has discovered that transactions with certain merchants result in additional unexpected charges being applied. These charges are currently being investigated. As a response, Penny has updated its fee structure in order to safeguard against potential merchant misuse.

Previous fees remain unchanged, however the standard fee will now be applied to all non-zero amount transactions with all of the following merchants: Walmart.


Non-zero amount transaction with any of the following merchants: Walmart	- 1.5% surcharge - 0.50 USD flat fee
Transactions with a zero amount	No Fee
Transactions with a non-domestic currency code i.e. currency code different from card currency code	- 1.5% surcharge - 0.50 USD flat fee
Transactions with a non-domestic card acceptor i.e. card acceptor is non-US	- 1.5% Surcharge - 0.50 USD flat fee
All Other	No Fee

October 13 2023 - Nov 6 2023

Due to the card networks charging additional fees for reversed or expired authentications on Penny Cards, the fee structure had to be updated to accommodate this change. Previous fees remain unchanged, however reversed or expired authentications now also have an additional fee incurred.


Transactions with a zero amount	No Fee
Transactions with a non-domestic currency code i.e. currency code different from card currency code	- 1.5% surcharge - 0.50 USD flat fee
Transactions with a non-domestic card acceptor i.e. card acceptor is non-US	- 1.5% Surcharge - 0.50 USD flat fee
All Other	No Fee

28 August 2023 - October 12 2023


Transactions with a zero amount	No Fee
Transactions with a non-domestic currency code i.e. currency code different from card currency code	- 1.5% surcharge - 0.50 USD flat fee
Transactions with a non-domestic card acceptor i.e. card acceptor is non-US	- 1.5% Surcharge - 0.50 USD flat fee
All Other	No Fee

29 July 2023 - 27 August 2023


Transactions with a zero amount	No Fee
Transactions with a non-domestic currency code i.e. currency code different from card currency code	- 1.5% surcharge - 0.50 USD flat fee
All Other	No Fee

Prior to July 28 2023

No fees were charged for any transactions made with issued cards.