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What is a Negative Interest Rate?
Negative Interest Rate is a yearly 1.0% ( which is ~ 0,0027% daily) fee to hold in your available* EUR balance.
The European Central Bank’s interest rate is negative right now. That means it costs PayDo money to hold euro balances for our business customers.
Please note, to keep your money safe, we are using reliable European banks, which have recently implemented this fee. This is not a PayDo interest rate and we are not getting any commercial benefit from this rate.
To cover these costs, we’re introducing an annual fee of 1.0% to hold amounts in euro balances. The fee will be charged daily and only on balances in EUR. Holding amounts in other currencies will remain free.
* – Merchant’s pending and rolling reserve EURs balances are not affected by negative interest fees.