The following fees apply when funding via CAD bank wire:
- Funding $3,000 CAD or under: $30 CAD bank wire processing fee applies
- Funding above $3,000 CAD: Free
Important things to note:
- Banks typically charge a fee to send a bank wire. It is the user’s responsibility to inquire with their own bank on fees to send a wire and any applicable intermediary bank processing fees to ensure the net amount received by Netcoins is as intended.
- Banks typically charge a fee to their customers for bank wires. It is the user’s responsibility to inquire directly with their own banks about any potential fees for sending bank wires. Netcoins will use the total amount received in its bank account (after all the user’s bank fees have been deducted) to determine whether the bank wire transfer will trigger a processing fee by Netcoins (as outlined above).
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For instance, User A sends $3,000 CAD to Netcoins via bank wire. User A’s bank charges $20 to send a wire, and uses an intermediary bank which has an additional wire processing fee of $10. The amount that lands into Netcoins’ bank account could be $2,970 CAD or $2,980 CAD (if sending fee is separately charged) As in either case the amount is below $3,000 CAD, the user will be charged $30 CAD by Netcoins to process this wire. User A will then be credited $2,940 CAD or $2,950 CAD into their Netcoins account.
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For instance, User A sends $3,000 CAD to Netcoins via bank wire. User A’s bank charges $20 to send a wire, and uses an intermediary bank which has an additional wire processing fee of $10. The amount that lands into Netcoins’ bank account could be $2,970 CAD or $2,980 CAD (if sending fee is separately charged) As in either case the amount is below $3,000 CAD, the user will be charged $30 CAD by Netcoins to process this wire. User A will then be credited $2,940 CAD or $2,950 CAD into their Netcoins account.
- Netcoins bank wire processing fees are charged on a per transaction basis. Multiple small bank wire funding attempts that add up to over $3,000 CAD will still incur bank wire processing fees when the individual wire received by Netcoins is below the threshold.
- If a user funds their account in the wrong currency (i.e. sending USD to the Netcoins CAD bank account) and then demands a wire return or requests a wire return for any other reason, a fee up to $100 CAD shall be applied to the user before the net amount is returned via wire.
- In the case that an account has to be closed due to a compliance or the account holder's decision, Netcoins will return the amount originally funded with wire to the user. Netcoins reserves the right to charge up to $100 CAD as a bank wire processing fee before the net amount is returned to the user.
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Please note that we are no longer supporting incoming and outgoing USD currency wires for Canadian users.