Cardy's deposit fees are built with the users in mind. Our #1 goal is to provide the lowest fees possible.
We also believe in transparency, so here is a detailed breakdown of how we're calculating the deposit fees.
The deposit fees calculation has 3 factors:
The exchange rate
The payment provider fees
The platform fees
Fee | From | To |
Exchange rate | Current rate | - |
Payment Provider fee | 0% | 2.5% |
Platform fee | 1% | 5% |
Let's dive deep into each one.
Exchange rate
Cardy's exchange rate is set by the supply/demand metrics; Via the US Bank accounts we provide, we allow users to receive USD through us and cashout in EGP this gives us cashflow in USD which in turn is our 'supply'.
Depending on the reserves we have in USD vs the demand for deposits we then calculate the proper exchange rate.
This number can be as low as the current exchange rate in banks.
Payment Provider Fees
Depending on the payment method you're using to deposit in your Card-Y wallet, the deposit transaction could be handled by a 3rd party payment provider who charges x% to handle your payment.
Platform Fees
This is the fee Card-Y charges on every deposit.