You probably wonder how Financial institutions get the resources they use to make business happen. Well, the answer is in the fees you pay.

What are these fees?

They are the commissions you pay when you make financial transactions, such as money transfers, currency exchanges, and much more on Grey after every successful transaction.

Different charges on Grey

Deposit fees

Fees for receiving or depositing funds via foreign transfer to your virtual account are dependent on the currency and payment scheme used.

For example, a deposit into a US bank account via ACH transfer incurs a 1% charge. While EUR bank accounts charge a 1% fee for receiving payments, the same as GBP bank accounts.

Conversion fees

‍This is the money charged to convert one currency into another. A fee of 1% (capped at $6) is charged of the currency you are converting from.

Capped fee means the maximum amount charged per transaction; the fee per transaction would not exceed the capped amount.

Withdrawal fee

This is also the fee for sending payments. This fee varies for different currencies and below is the list of withdrawal fees for various currencies.

Cross border fees

A cross border fee is a charge when you make a transaction using your Grey USD card on non-USD websites. So, when you make a payment with your USD card on EUR or GBP websites, a fee of 2% of the transaction amount plus $0.50, will be charged.

Grey doesn't initiate this payment but it is a standard charge levied by financial networks to manage the additional costs involved in international currency transactions.

You can now receive foreign payments as fast as possible and at great rates with no hidden charges on Grey, sign up to get an account in less than 5 minutes.

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