Overview of Deferred Presentment Fees

A. Verification Fee

The Deferred Presentment Provider will be charged a fee of one dollar and 35 cents ($1.35) beginning June 1, 2023, for each approved and registered deferred presentment transaction. This is an increase from the one dollar ($1.00) previously approved for the period November 1, 2021 - May 31, 2023.

This transaction-based fee consists of a database verification fee of one dollar and 35 cents ($1.35). This one dollar and 35 cents ($1.35) fee may be "passed on" or charged to the consumer pursuant to the Act.

This is the only fee collected for normal use of the Services.
Please note the following additional information:

• No monthly fees
• No minimum usage
• Unlimited * Customer Eligibility Checks
• Unlimited * SSN Validation Checks
• Reasonable usage of the Customer Care Center IVR and Help Desk
• No charge for transaction updates
• Unlimited * usage of the Database for reporting and administrative purposes
• No fee for initial and on-going training
• No fees for loading your initial data provided in a standard format

*Unlimited usage for purposes of conducting business under the Michigan Deferred Presentment Service Transactions Act.

B. DIFS Transaction Fee

Beginning with the October 1, 2016 licensing year, the Director will collect a transaction fee for each licensee's deferred presentment transaction on a monthly basis.  The transaction fee amount will be 40 cents ($0.40) per transaction.  This fee will be invoiced and collected by Veritec Solutions LLC.  This 40 cents ($0.40) fee may not be "passed on" or charged to the consumer pursuant to the Act.