What are the Transaction Fees?
What are the Transaction Fees?
For Deposits - Squareme will automatically deduct NGN50 on each deposit made to the virtual account provided after signing up, Please note this is irrespective of the amount you deposit.
For withdrawals - Squareme will deduct a N40 fee for each withdrawal made to your bank account. Please note this is irrespective of the amount you withdraw. Our fee is capped at N40 per transaction.
NOTE: Transfer to other squareme users is free of charge
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Foreign Transaction Charges and Fees
When using your USD virtual card on platforms where charges are made in a currency other than USD, a foreign transaction fee will be applied. This fee, along with any additional currency conversion costs, will be clearly disclosed at the time of the ...
Are there any transaction limits?
Are there any transaction limits? Yes, there are transaction limits. To ensure the safety of funds and prevent fraud and identity theft, we employ a 3 tier kyc(know your customer) system. Tier 1 users are required to input their BVN to confirm their ...
What happens if I terminate my account? Will there be any penalty fees?
Upon termination of your account, a penalty fee will be charged at our official buy rate. This fee is calculated based on our official buy rate and is intended to cover any administrative or processing costs associated with the termination process.
What happens when my lock-in period is completed?
Once the lock-in period is completed, you will receive a notification. You can then choose to withdraw your funds to your main wallet without any penalty fees.
What if my receiver doesn’t get an SMS code?
What if my receiver doesn’t get an SMS code? Please ensure that the correct phone number was entered during the transaction. If the phone number is correct, the account would still be created for the receiver, and the money would be sent to their ...