Are there any other bank fees such as cash advance, exchange rate?

Are there any other bank fees such as cash advance, exchange rate?

Here you may find general information and guidance on transaction fees;

Your card is charged for the order amount you confirmed by the creation of your purchase order. All the processing fee is included in this confirmed price. Koinal doesn't apply any further fees. If you notice a difference in your card statement, this difference may be due to local currency exchange fees or cash advance fees, etc. applied by the banking system. Please contact your issuer regarding these differences.


Cash Advance Fee

In January 2018, Visa and MasterCard decided to consider all cryptocurrency transactions as quasi-cash transactions. Your bank or card issuer may add a fee for making what they decide is a cash transaction. Though the amount may vary, it has been reported up to 5%.

In the case you are a victim of this cash advance fee, we advise you to contact your bank and dispute this fee. Make sure that you do not dispute the entire transaction, or you may accidentally file a payment dispute which could end up hurting your credit rating among other things.

Please contact your issuer bank regarding differences in the charged amount. For further details please check terms & conditions.


Exchange Rate Fee

A more commonly known fee, but also important, is the exchange rate fee. That is: the fee your bank charges for converting your card currency into USD.  Koinal.io has no control over the exchange rate fee imposed by your card issuer when converting the amount to your base currency.  



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