Revised Deposits and Withdrawals Fee Structure
March 6, 2012
Since we announced our new fee structure we’ve been listening to customer comments via emails, on our site and in online forums. From your feedback we have established that the major concern was that under this structure customers would have no means of moving money in and out of Smarkets without making the overall cost of using us prohibitive, even at a commission rate of 2%.
As such we’ve revised the structure to make debit card and bank transfer* transactions free of charge. There will be no limits on the number of times you can deposit or withdraw. A lower free Moneybookers limit will apply, and fee changes to credit cards and Moneybookers payments will still take effect on March 12th, 2012.
We hope you understand that the fee changes we are still implementing are not a result of a desire to make more money. Every single time a payment transaction is processed, a charge is incurred. We have tried to absorb these costs as much as possible in a bid to offer you better value – and we hope that down the road customers will be free to deposit and withdraw by any method, free of charge. For the time being however, we feel that the proposed scheme is as fair as we can make it for both parties. A revised table outlining the new fee structure follows:
| Card Type | Deposit Fee | Deposit Time | Deposit Minimum | Withdrawal Fee | Withdrawal Time | Withdrawal Limit |
| Visa Credit Card | 2.50% | Instant |
£10.00 |
Free once per month (any amount); £10.00/€12.00 for each transaction thereafter |
2 business days | None |
| Visa Debit Card | Free | Instant | £10.00 or €10.00 min. |
Free | 2 business days | None |
| Mastercard/ EuroCard |
2.50% | Instant | £10.00 or €10.00 min. |
Free once per month (any amount); £10.00/€12.00 for each transaction thereafter |
2 business days | None |
| Solo/ MaestroCard |
Free | Instant | £10.00 or €10.00 min. |
Free | 2 business days | None |
| Moneybookers |
First £500 or €500 per month free; 2.5% charge over £500 or €500 |
Instant | £10.00 or €10.00 min. |
Free once per month (any amount); £10.00/€12.00 for each transaction thereafter |
1-2 business days | None |
| Bank Transfer |
Free | 3-5 business days |
£20.00 or €20.00 min. |
Free in the UK or EEA. International bank transfers will incur a £10.00/€12.00 fee per transaction. |
3-5 business days | None |
*Please note that international bank transfers outside of the UK or EEA will be subject to a fee of £10.00 or €12.00 per withdrawal.
**Fees are calculated per calendar month. So a user would be free to make two Moneybookers withdrawals up to £500 or €500 on March 30th and then on April 1st, for example, before incurring any charges.
March 6, 2012 at 19:37
Well, it’s really a shame to change the free structure. The 500€ minimum is too low, i think minimum must be 1000€. Sometimes we need to take our money at the midle of the month and put it again before the end of it.
Why not study a structure like 1000€ minimum for free and after that any deposit amount must generate a 5% of comission to absorve the fees? if i deposit 5000€ to Withdrawal it i need to generate 250€ in comission otherwise you aply the 2,5% fee
think about it