We charge 25% of any successful refunds we can get you through Express Negotiations (unless you are signed up for Harvest Premium, in which case the fee is waived). If we are unable to get you any refunds, we don't charge at all. That way, our interests are aligned with yours: we only get paid if you get paid. This charge allows us to stay operational as a business and continue to get more refunds for customers in the future.
The charge is issued at the time when the negotiation is closed and you are notified of the results via email. While we would love to take our fee out of the refund directly, we currently cannot do so and must issue a separate charge.
Because we negotiate fees and interest, the last thing we want is to get you refunds and then cause another bank fee such as an overdraft or NSF from our service charge. We do our best to minimize the risk of this happening, by delaying a charge until you have an updated balance that is greater than our 25% charge.
If we are successful with the negotiation, we will directly charge your checking account with the highest balance on file via ACH. We do our best to only charge the account after a successful negotiation when you have sufficient funds. If you do not have a sufficient balance we will wait to make the charge as we don't want to cause any more fees to your account!
If you submit a negotiation for a credit card, but you do not have a checking account on file, we will authorize (not charge) your credit card for $0.50, which will automatically fall off your account in 7 days. This authorization is simply to validate the payment method on file. Please note that we cannot accept debit cards for payment at this time.
Here are some example of how charging works for Express Negotiations:
If we negotiate with your bank for $100 in fees and successfully get you all of the $100 back in refunds, we will charge a fee of $25.
If we negotiate with your bank for $100 in fees but only get you refunds for $75, we will charge a fee of $18.75
If we negotiate with your bank for $100 in fees but are unsuccessful in recovering refunds, we do not charge anything.