Hi all, I have noticed that ZebpPay is charging around 1000 Satoshi as platform fees if there is no trading done every month. Uphold never charged any fees of any sort. Why do we have such a thing in connected accounts. Has anyone received any email related to fees.
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Surprised to see that no one has faced this issue
@ak82 it’s already been discussed, which is why nobody is really speaking on yours.
It’s not hard to avoid any fees. Perhaps you may want to read through everything over at Information for users connected to ZebPay
It’s better to take out all of your funds as soon as you receive them in ZebPay to somewhere safe & trustworthy.
As already mentioned there. If you don’t transfer the amount received in the brave rewards balance to Zebpay, balance, there’s no fees.
I have received emails from them stating that since there is no trading activity for a month, we will be charging 1000 Satoshi as monthly fees. To avoid start trading atleast Rs 100 per month or lend your crypto for 30/60/90 days. However BAT is not available for lending feature.
@ak82 you didn’t click on the link I shared, did you? Before you argue or complain, it’s very important you pay attention and read. As everything you are speaking about has already been explained and avoiding fees is incredibly easy. For example:
Thank you for contacting ZebPay’s support.
Please note, connecting your account to brave rewards and getting BAT deposited to your Zebpay account each month will not be considered as an activity to avoid membership fee.
You need to do at least one trade (buy/sell) in a month or use our lending feature to avoid membership fee being applied to you for that particular month.
The membership fee is not charged to all accounts. The membership fee is only for inactive accounts (accounts with no trades in the previous month).
To ensure our members do not pay any membership fee, we give various options so that you can reap benefits of all our features which helps them not only to trade but to earn passive income and earn yields from profits made by ZebPay:
- If you trade even once per month, you won’t be charged the membership fee.
- Alternatively, if you do not actively trade and would like to hold onto your coins as a long term investment, refer to the link below to see our new “Lending” feature:
https://help.zebpay.com/support/solutions/articles/44002182887-zebpay-lending-faqsWe make all the attempts to ensure our users are aware of the membership fees.
Information about the membership fee is available on your app under the menu section (three lines on top left of your app) under Fees section and also available on our terms of use on our website as well that every customer reads before investing.Please understand that the membership model was implemented as there is a cost associated to maintain an inactive account.
Please check the link below for more information:
https://zebpay.com/in/features/pricing
And also…
- If my balance is Zero, will the membership fee cause my balance to go into negative?
Nope. It will never be negative. If you don’t have any assets in you Zebpay account, you won’t be charged the membership fee.
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@Saoiray - I have gone through the link and my question still remains the same. Also what might seem easy for you may not be same for others. Anyways I have stopped using Brave Rewards feature since it does not amuse me anymore. All i care about is the privacy features and nothing else.
If that’s too hard to you, then you shouldn’t ever be online or set up any accounts.
Dude, the answer is you withdraw BAT right away and you don’t get any fees. You only get membership fees if you put money there and don’t touch it. That doesn’t sound hard at all, does it?
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Bro. the best thing you can do, is that you can just let the BAT sit in the brave rewards balance and leave it there until it becomes a substantial amount (No fees for this BAT balance as it is not in Zebpay yet), then move that over to Zebpay and sell it and then withdraw. This way you get the fee waived off as well as pay less withdrawal charges over all. I don’t understand what’s so hard about this. I do it!
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Thanks a lot for that simple answer i was looking for. I will just do that as you mentioned.
Bro. Would you recommend transferring BAT from Uphold to Zebpay. Also where will it go when transfer is completed. Will it be in Brave Rewards balance or will it be Zebpay balance which makes it problematic with the fees.
I will recommend that if you want to transfer just the Amount (money) which is in BAT, then better to swap the BAT for a currency which has less gas fees such as XRP or so. Earlier I used to do the same.
The amount will be in your Zebpay Balance so it’ll be a hassle to make sure to make a trade once a month or you can just sell everything in Zebpay balance and just keep accumulating in brave rewards balance.
All my Hard earned BAT tokens from past 3 years lost . I was not aware about this.
Sad to say but that’s your fault. Always look into products and try to see if any fees are there, especially when it comes to financial products.
hey did you receive any extra BATs this month? also, when can I transfer the rest of the BATs from Brave to Zebpay wallet (if I already transferred 10 BATs )?
The 10 BATs restriction is per transaction and not per day. You could try to withdraw next 10 BATs right away. If you get any error doing so, try again after 5-10 mins. It will work.
Thanks for the confirmation.
Nah no extra BATs. Don’t understand why you would wanna move BATs into Zebpay and be liable for the membership fee. Dude, keep it in the brave rewards wallet and transfer when you’ll sell all the BATs in Zebpay in the same month.
I just keep converting my usdt to inr and inr to usdt each month, so by doing one trade each month I don’t have to pay membership fees.