Important Update: Changes to Virtual Dollar Card Funding Fees on Nearpays

As we continually strive to provide you with the best services, we’ve adjusted the fees associated with our virtual dollar cards. Starting in September 2024, the fee for funding your virtual dollar card will be updated, and we want to ensure you’re fully informed about these changes.

What’s Changing?

Updated Funding Fee: The fee for funding your virtual dollar card has been adjusted from 0.01% to 0.015%. The maximum cap remains at $15 per funding transaction, ensuring you won’t pay more than this amount regardless of the transaction size.
No New Transaction Fees: We planned to introduce a transaction fee for every dollar transaction, but after reviewing your feedback, we’ve decided not to implement this fee.
Card Creation Fee: Creating a virtual dollar card remains unchanged at $3.

What This Means for You

Simply put, the only charges you’ll see on your virtual dollar card are the $3 card creation fee and the updated 0.015% funding fee. No extra fees will be applied when making dollar transactions, so you can continue using your card confidently, knowing there are no hidden charges.

Why the Change?

This adjustment is part of our ongoing effort to balance service costs while maintaining affordable and competitive rates for our users. We believe these updates allow us to continue providing secure and reliable financial services.

Your Questions Answered

1. How does the new funding fee work?

The new funding fee of 0.015% is calculated based on the amount you fund your card with. For example, if you fund your card with $1,000, the fee will be $1.50, capped at $15 for larger amounts.

2. Are there any changes to the card creation fee?

No, the card creation fee remains at $3.

3. Will there be any other new fees?

No, there will be no additional fees. The only costs associated with your virtual dollar card are the $3 creation fee and the 0.015% funding fee.