Starting on January 1, 2020, an inactive account fee has been introduced on the EXMO platform.
An announcement on 25th of November 2019 notified about updating the User agreement. Namely, it was supplemented with paragraph 4.6 “Commission for an Inactive Account”, which defines the rules for charging a fee:
4.6. Inactive Account Fee
In case during 6 (six) calendar months the User has not made a single Transaction, or single Deposit, or single Withdrawal of Funds, the Account of such User shall be considered an Inactive Account (the “Inactive Account”).
For all Inactive Accounts, EXMO applies a monthly fee, which is the equivalent of 5 (five) US dollars at the current SPOT rate of the US dollar to the Currency in which the fee will be debited (the “Inactive Account Fee”).
From the moment of recognizing the Account as Inactive EXMO has the right without notice to the User to debit Inactive Account Fee every calendar month. Inactive Account Fee debit occurs until the 10th (tenth) day of each such month. Herewith, the Account ceases to be considered an Inactive Account from the date of execution of any of the following actions: one Transaction, or one Deposit, or one Withdrawal of Funds. The debiting of Inactive Account Fee shall discontinue from the date when the Account ceases to be considered an Inactive Account. Inactive Account Fee is debited by EXMO in any Currency in which the Funds are deposited in the Inactive Account at the time of debit.
If the amount of Funds in the User’s Account is less than the amount of Inactive Account Fee, EXMO debits the entire balance of Funds from such an Account.
The Inactive Account Fee is debited starting from January 1, 2020 for each Account, which is an Inactive Account as of the indicated date and hereinafter for each Account that is considered an Inactive Account according to the conditions specified above.
This means that the fee is charged only from those accounts in which any transactions were made within last 6 calendar months: deposit, withdrawal or exchange.