Inactive accounts on Coins.ph refer to user accounts that have not engaged in any monetary transactions for a specified period. Wondering about inactive accounts on Coins.ph and how they might affect you? Understanding what constitutes an inactive account, the implications of this status, and how to reactivate your account is essential for maintaining access to your funds and avoiding unnecessary fees
Defining Inactive Accounts
An account is classified as inactive if it has had no monetary transactions within the last 12 months. This inactivity can lead to maintenance fees, which are deducted from your Peso wallet balance.
Maintenance Fees for Inactive Accounts
Starting January 30, 2023, Coins.ph implemented a maintenance fee policy for inactive accounts:
- Monthly Charge: An inactive account incurs a maintenance fee of PHP 15 each month.
- Deduction Source: Only the Peso wallet balance will be used to cover these fees. If your Peso balance reaches zero, no further fees will be charged.
- Timing of Deductions: The PHP 15 fee will be deducted on the last day of each month.
How to Reactivate Your Inactive Account
To lift the inactive status of your account, you need to perform any monetary transaction. Here are some actions you can take:
- Cashing In: Deposit funds into your account.
- Cashing Out: Withdraw funds from your account.
- Buying Load: Purchase mobile load using your account balance.
- Paying Bills: Use your account to pay bills.
- Converting Currency: Convert your Peso into cryptocurrency.