Hello Dear Customer,
Actually, it’s not that simple as you described. You are totally right when you write that the SEPA fee is smaller than our comissions. But you forget that we have different payment systems on the exchange - so, for example, a lot of people deposit with Skrill and withdraw with MoneyPolo (that supports SEPA), so it creats a huge gap between cash inflow to our Moneypolo account and cash outflow from it. In case of cash outflow is significanlty higher than cash inflow we have to increase the commission for outflow channel to manage the cash balance at Moneypolo. So we need to keep the balance between supply and demand for each separate payment channel- that’s why we change comissions on a regular basis. Reducing the number of transactions reduces the commission, and an increase - vice versa. Once the gateways are less loaded - the commission will decrease.
We are constantly improving our policy of liquidity management on payment systems and aiming at reducing commissions to the minimum level.
Kraken exchange has far more volume than you guys and they charge €0.09 for a SEPA Transfer... nothing compare to your 1%.
That’s not fair at all so don’t say it’s because of volume you charge that much because you’re not closer to kraken volume
Hi There,
Kraken only has SEPA/Wire, we have many methods. They can do deposits/withdrawals through one stream sepa/wire, which reduce their cost. We have different payment methods so that's why fees are different, we are currently working on increasing Sepa/Wire volumes more, which would reduce the transaction cost for us and to our customers respectively.