Result
Actual fee
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This calculation is for informational purposes only and does not replace advice from a qualified professional. Formulas and rates may not fit your exact situation — double-check the figures before making decisions.
How it is calculated
Actual fee = the larger of (withdrawal amount × percent ÷ 100) and the bank's minimum fee. Banks almost always set a minimum fee in money terms — for small withdrawal amounts, that minimum, not the percentage rate, is what determines the actual fee.
Because of the minimum, the effective rate (fee as a percentage of the amount withdrawn) is in practice higher than the stated percentage for small amounts, and only approaches it when withdrawing larger sums.
Cash withdrawal fees from a business account are usually noticeably higher than on an ordinary personal debit card — a deliberate bank policy to encourage cashless payments in business.