bronID calculates the transaction fees included in your invoice and/or deducted from your credit balance by adding up the number of attempts when verifying individuals and the number of entities in the chain of ownership when verifying organisations.
Transactions fees when verifying individuals
When verifying individuals, each submission attempt is billed even if you submit incorrect information or bronID is not able to verify the individual. This is because bronID pays the government and commercial data sources for every request regardless of the outcome.
Example:
If you first submit JOHN CTZIEN (by mistake) and bronID returns "Rejected" verification status, and then you resubmit the individual with the correct name, i.e. JOHN CITIZEN - in this case, your account will be charged for two verification attempts.
Transactions fees when verifying organisations
When verifying organisations, bronID will charge your account for every organisation in the ownership structure of the target entity. In this case, bronID does not charge per attempt within the same ID verification reference for every entity in the organisational structure.
Example:
If you submit an unregulated trust with a corporate trustee and two beneficiaries, bronID will charge you for 1 trust + 1 company + 2 individuals.
Example:
If you submit a company that is owned by another company and ultimately owned by 2 individuals, bronID will charge you for 2 companies + 2 individuals.
Detailed billing report
To access your detailed billing report, go to the top right corner and click on your Account > Billing.
Here you will be able to filter the billing reports and export them to a .csv file. The billing table will provide you with detailed information on how many entities have been verified as part of a KYB check and how many attempts have been made when verifying individuals. This option is available only for Portal+Integration accounts.
Detailed billing reports are available from 1st August 2021. Although the interim billing report can be accessed in real-time, the final billing report is available on the first day of the following month.
Rollover verifications
In some cases, your invoice may include more entities that have been billed in a given month, even though they are not listed in the billing table for that particular month. In the billing table, bronID provides detailed information chronologically according to the timestamp of the verification reference, and the billing happens once the entity or the additional entities/individuals are verified.
Example:
You submit ABN Corp to be verified as a private company in August. bronID flagged that two individuals must be verified to complete the submission and get a "Verified" status. bronID puts the company in an "Info" status and requests two more individuals to be verified. You then verify these individuals in September.
In this case, you will be charged for the company submission in August and for verifying the individuals in September. However, the company and the individuals will be included in the billing table for August, i.e. included in the reference number of the target entity.
Example:
Your customer submits a company for verification via your bronID forms in August. They submit the company, but one of the UBOs cannot be verified. Therefore, they decide to save the form and collect more data to re-attempt the submission. They re-attempt the submission in September with more information about the missing UBO.
In this case, you will be charged for the company submission in August and for verifying the individuals in September. However, the company and the individuals will be included in the billing table for August, i.e. included in the reference number of the target entity.
