Mintos introducing a fee for inactive accounts

9 months, 2 weeks ago - December 22, 2021
Mintos introducing a fee for inactive accounts
Mintos introducing a fee for inactive accounts
To cover some of the costs of holding uninvested funds on behalf of investors, Mintos introducing a fee of €2.90 per month for inactive accounts.

Letter from Mintos:

We’re introducing a fee for inactive accounts

Hi -,

To cover some of the costs of holding uninvested funds on behalf of investors, we’re introducing a fee of €2.90 per month for inactive accounts. As we continue to grow, we are holding more and more funds on behalf of investors. And since banks are charging us based on the amounts we are holding with them, our costs are increasing likewise.

Since you are an active investor, you won’t be charged an inactivity fee.

How does the inactivity fee work?

  • The fee will be charged only to investors who haven’t invested or sold investments for 6 consecutive months or more. It will be calculated and charged on the 1st day of each month.
  • The fee will be waived if the investor’s uninvested funds are 30% or less of their total account balance – the sum of their available funds, invested funds, pending payments, and amounts in recovery, converted to euros.
  • The fee will also be waived if the investor’s uninvested euro funds are less than €100.

This change will be effective from 3 January 2022, and we have updated our price list accordingly.

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