On the Ethereum blockchain, every transaction—like sending ETH, accepting a payment, or withdrawing funds—requires a small processing fee called a gas fee.
Think of it like a network toll paid to the Ethereum network to confirm and secure your transaction.
Why Is There a Fee?
Unlike credit card processors that charge fees to cover their operating costs, Ethereum’s gas fees go to blockchain validators—the decentralized computers that verify and record transactions on the network.
These fees:
- Help keep the Ethereum network running
- Vary depending on network demand (more demand = higher fees)
- Are not controlled by Bankful—they’re built into the blockchain
When Do Bankful Merchants Pay Gas Fees?
In your Bankful Crypto Wallet, you only pay a gas fee during one action:
When you withdraw ETH from your Vault to your MetaMask wallet
Here’s what happens:
- A customer pays you in ETH → Bankful holds it in your Vault
- You choose to withdraw that ETH → Bankful prompts a blockchain transaction
- You’re asked to approve the gas fee through MetaMask
- Once approved, the ETH is transferred to your wallet on-chain
How Much Do Gas Fees Cost?
Gas fees vary depending on:
- How busy the Ethereum network is (peak times = higher fees)
- The complexity of the transaction (simple sends are cheaper)
Typical Ranges:
- Low traffic: $1–$5
- Average traffic: $5–$20
- High traffic: $20–$50+
Tip: You can sometimes save money by withdrawing during off-peak hours (e.g., evenings or weekends).
Where Do the Fees Go?
When you pay a gas fee, that money:
- Goes directly to the Ethereum network (not Bankful)
- Is used to incentivize miners/validators to confirm your transaction
- Is visible on the blockchain through your transaction hash (viewable via Etherscan)
Bankful does not keep or profit from gas fees.
Business Impact: What Merchants Need to Know
- You control when you pay gas. It only happens when you choose to withdraw.
- You keep 100% of what’s left. Bankful takes a flat 1% fee, and gas is separate.
- You see all costs upfront. There are no hidden or surprise fees.
What’s Coming Next?
We’re working on future upgrades to support:
- Layer 2 networks (like Polygon or Arbitrum) that offer lower gas fees
- Stablecoin payouts, giving merchants more flexibility and pricing control
- Scheduled withdrawals so you can automate when you pay gas
Summary: Gas Fees, Made Simple
| Term | Meaning |
|---|---|
| Gas Fee | The cost to send a transaction on Ethereum |
| When It Applies | Only when withdrawing from your Vault |
| Who Sets It | The Ethereum network, not Bankful |
| How It’s Paid | Via your MetaMask wallet during withdrawal |
| Where It Goes | To Ethereum validators, not to Bankful |
Still Have Questions?
Bankful is here to help you every step of the way. Whether you’re new to crypto or just want help understanding how fees work, our team has you covered. support@bankful.com