You probably wonder how Financial institutions get the resources they use to make business happen. Well, the answer is in the fees you pay.
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.
Deposits via ACH ($), SEPA (€), or FPS (£) incur a 0.8% fee, with a minimum charge of $2/€2/£2 and a maximum charge of $10/€10/£10. For example, a £5,000 deposit will cost £10, while a €500 deposit will cost €4. However, GBP deposits made through BACS or CHAPS have flat fees: £15 for BACS and £25 for CHAPS.
This is the money charged to convert one currency into another. A fee of 1% (capped at $6) is charged for the currency you are converting from.
A capped fee means the maximum amount charged per transaction; the fee per transaction would not exceed the capped amount.
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.
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.
To learn more about pricing on Grey, please visit our pricing page. You can also use our handy pricing calculator to see how much you'll save on transactions before you make them.
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