Fee Schedule - Terms and Conditions

1. General Terms and Conditions for Fees

1.1 Fee Collection

All fees outlined in this agreement will be automatically debited against the client’s account registered with Flyfish unless otherwise agreed in writing. Fees are non-refundable once collected, except in cases of manifest error by Flyfish.

If the client’s account has insufficient funds to cover the full amount of the fees, Flyfish reserves the right to deduct a partial payment of the available funds. Any outstanding balance will remain due, and Flyfish will automatically deduct the remaining amount from the client’s account upon the next deposit, until the total fee amount is fully paid.

In the event that Flyfish is unable to collect any fees on the scheduled date, whether due to technical or other reasons, this delay does not waive Flyfish’s right to collect the outstanding fees at a later date.

1.2 Fee Adjustments

Flyfish reserves the right to review and amend the fee structure from time to time. Any such amendments will be communicated to the client in writing at least 30 calendar days prior to taking effect. Continued use of the Flyfish platform after the notice period constitutes acceptance of the revised fees.

1.3 Dispute of Fees

If the client disputes any fee, they must notify Flyfish in writing within 7 calendar days of the fee being charged. Flyfish will review the dispute and respond within 7 calendar days. Any undisputed portion of the fee must be paid in accordance with the regular payment terms agreed by the client.

1.4 Definition of a transaction

Flyfish defines a transaction as any completed financial action performed by the client through the platform.

2. Individual Fee Conditions

2.1 Onboarding Fee 

The Onboarding Fee is charged as a one-time, non-refundable fee for the onboarding to the Flyfish platform. This fee may be collected prior to, during, or after the completion of the onboarding process depending on the individual terms agreed. If the Onboarding Fee is collected in full prior to the completion of the onboarding process and the onboarding is deemed unsuccessful, Flyfish may refund up to 50% of the fee at its sole discretion. The refund amount, if any, will be determined based on the extent of work completed and costs incurred during the onboarding process.

2.2 Inactive/Dormant Fee 

A Dormant Fee applies when a client has not logged into the Flyfish platform or conducted any transactions for three (3) consecutive calendar months. This fee is charged on a quarterly basis calculated from the date of inactivity until the client resumes regular activity on the platform and charged on or after the completion of each 3-month period of inactivity. 

2.3 Low Activity Fee

A Low Activity Fee is charged to clients who perform fewer than eight (8) transactions per calendar month. The Low Activity Fee is charged monthly on the first week of the following month, and if a client meets the transaction threshold in subsequent months, the fee will no longer apply.

2.4 Account Maintenance Fee

The Account Maintenance Fee is charged on a monthly basis to cover the ongoing costs associated with maintaining an active account on the Flyfish platform. This fee is non-refundable and will be debited from the client’s account automatically on the last working day of the month.

2.5 Account Closing Fee

The Account Closing Fee is a one-time fee charged upon the client’s request to close their account on the Flyfish platform. This fee is designed to cover administrative costs related to the termination of account services and is charged prior to closing the account and transferring the remaining balance to the client’s chosen account.

2.6 Card Loading Fee

A Card Loading Fee applies each time funds are loaded onto a card through the Flyfish platform. This fee is deducted from the loaded amount at the time of the transaction.

2.7 Crypto to Fiat and Fiat to Crypto Fee

For transactions involving the conversion between cryptocurrency and fiat currency, a fee is applied. This includes a Crypto to Fiat Fee for conversions from cryptocurrency to fiat currency, and a Fiat to Crypto Fee for conversions from fiat currency to cryptocurrency. Both fees are calculated based on the converted amount, charged at the time of the transaction, and are non-refundable. Foreign Currency Conversion fees may apply in accordance with the banking partner’s applicable rates.

2.8 SEPA/SWIFT Outgoing Fee

A SEPA/SWIFT Outgoing Fee applies for all outgoing transfers initiated by the client. The fee may bear a minimum charge per transfer and is deducted from the client’s account at the time of the transfer completion. Foreign Currency Conversion fees may apply in accordance with the banking partner’s applicable rates.

2.9 SEPA/SWIFT Incoming Fee

A SEPA/SWIFT Incoming Fee applies for all incoming transfers to the client’s account. The fee may bear a minimum charge per transfer and is deducted from the client’s account at the time of the transfer completion. Foreign Currency Conversion fees may apply in accordance with the banking partner’s applicable rates.

2.10 SEPA/SWIFT Cancellation Fee

Charged when a client requests the cancellation of a SEPA/SWIFT transfer after it has been initiated. This fee is non-refundable and covers administrative processing.

2.11 SEPA/SWIFT Investigation Fee

Applies when an investigation is requested by a client for a SEPA/SWIFT transfer, typically in cases of transfer delays or inquiries. The fee is deducted upon initiation of the investigation.

2.12 SWIFT Copy Request Fee

Charged when the client requests a copy of the SWIFT transaction. The fee covers administrative and retrieval expenses and is charged on request.

2.13 KYC/KYB Review Fee

Charged for conducting KYC (Know Your Customer) and KYB (Know Your Business) reviews, with the frequency determined by the client’s risk profile and classification. This fee covers the administrative costs associated with these periodic and risk-based reviews to ensure ongoing regulatory compliance.

2.14 Complex Structure Fee

Charged for specific clients whose legal structures or activities require additional compliance or due diligence measures. It is charged on completion of the process.

2.15 Additional Due Diligence on Payment/Incoming Transactions

Applies to payments/incoming transactions requiring increased due diligence. This fee is assessed per transaction for specific high-risk activities or clients and is charged on the completion of the process.

2.16 Request for Trace of Funds

This fee applies when a client requests a trace to track or confirm the status of funds in transit. It covers administrative expenses for coordinating with banking partners to locate the funds. It is charged at the time of request.

2.17 Request for Return of Funds

Applies when a client requests a reversal or return of funds previously transferred. This fee covers administrative handling of the request. It is charged at the time of request.

2.18 IBAN Certificate (signed and stamped)

Charged for issuing a formal, signed, and stamped IBAN certificate for client records. It is charged at the time of request.

2.19 Audit Report

Applies when a client requests an official auditor’s certificate. It is charged at the time of the request. 

2.20 Letter of Reference 

Fee for issuing a signed letter of reference for the client, typically upon request for formal documentation of their account status. It is charged at the time of the request.

3. Termination of Services

3.1 Final Fees Upon Termination

Upon termination of the client’s account with Flyfish, any outstanding fees, including Onboarding Fees, Dormant Fees, or Low Activity Fees, shall immediately become due and payable.