As part of the recent updates to the Coins.ph User Agreement, maintenance fees will be charged for inactive Coins.ph accounts starting January 30, 2023.
What is an inactive account?
If a Coins.ph or Coins Pro account has no monetary transactions within the last 12 months, this is already considered as an inactive account.
How are maintenance fees computed?
- Monthly Charge: If your account is classified as inactive, a maintenance fee of PHP 15 will be charged every month.
- Deduction Source: Only your Peso wallet balance will be used to cover these fees. The deductions will continue monthly until your Peso balance reaches zero.
When are the maintenance fees charged?
The P15 maintenance fee will be deducted from your Peso wallet balance every last day of the month.
Will crypto be deducted?
No. The maintenance fees are only debited from your Peso wallet. Your crypto wallet balances will remain unaffected.
Will Crypto Balances Be Affected?
- No Impact on Crypto: Your cryptocurrency wallet balances will remain unaffected by these maintenance fees. Only the Peso wallet balance is subject to deductions.
How Can I Lift My Inactive Status?
To reactivate your account and lift its inactive status, you need to perform any monetary transaction. This could include:
- Cashing in
- Cashing out
- Buying load
- Paying bills
- Converting your Peso to cryptocurrency
What Happens If My Peso Balance Reaches Zero?
Once your Peso balance is zero, your account will no longer incur maintenance fees.