This schedule lists the fees TransferCove charges for using TransferCove. It is part of our Terms of Service.
1. What we charge
All amounts are in US dollars. We have no monthly fee, no account opening fee and no fee for holding a balance. The tables below show the fees for each type of transaction and payment method, along with each method’s minimum and maximum amount and typical timing.
Between members
| Activity | Fee |
|---|---|
| Sending money to a member | Free |
| Requesting or receiving money | Free |
| Holding a balance | Free |
Adding money
| Method | Fee | Minimum | Maximum | Usual timing |
|---|---|---|---|---|
| Bank transfer (ACH or wire) | Free | $10.00 | $10,000.00 | After review, usually within one business day |
| Zelle | Free | $10.00 | $2,500.00 | After review, usually within one business day |
| USDT (TRC20) | Free | $20.00 | $10,000.00 | After review, usually within one business day |
Withdrawing
| Method | Fee | Minimum | Maximum | Usual timing |
|---|---|---|---|---|
| Bank transfer (ACH) | $1.00 | $10.00 | $5,000.00 | Instant |
| Zelle | 1% | $10.00 | $2,500.00 | Instant |
| USDT (TRC20) | $2.00 | $20.00 | $10,000.00 | Instant. The fee covers the TRON network fee. |
2. How fees are taken
- Payments between members. Any fee is added on top of the amount you send, so the recipient gets the full amount.
- Deposits. Any fee is taken from the amount we credit to your balance.
- Withdrawals. Any fee is taken from the amount we pay out, so you receive the amount you withdraw minus the fee.
A fee can be a fixed amount, a percentage of the transaction, or both. Percentage fees are rounded to the nearest cent.
3. You see the fee before you confirm
Before you confirm a payment, deposit or withdrawal, the app shows the fee and either the total you’ll pay or the amount that will reach you. If a fee would apply, you see it at that point. We don’t charge fees that weren’t shown to you before you confirmed.
4. Fees charged by others
Banks, payment apps and crypto networks may charge their own fees for sending money to us or receiving money from us. Your bank may charge for an outgoing wire, or a network fee may apply to a USDT transfer. Those fees are set by the other provider, aren’t collected by us, and aren’t included in our tables. Check with your provider.
5. Limits
Minimum and maximum amounts per transaction are shown above for each method. Your account also has daily and monthly limits that depend on your verification tier. You can see your current limits and usage in the app.
6. Refunds of fees
If you cancel a withdrawal while it is pending, or we reject it, the full amount goes back to your balance and no fee is charged. If we charge a fee in error, we’ll refund it.
7. Changes to fees
We may change our fees. We’ll give you at least 30 days’ notice by email or in the app before a new or higher fee applies to you, unless the law allows a shorter period. Fee reductions can take effect straight away. The fee shown in the app when you confirm a transaction is the one that applies to it.
8. Questions
If you have a question about a fee, contact us at support@transfercove.com. We reply within one business day.