1. The Basics
This page lists the fees Afria Technologies LLC ("we") charges for using ChekBuk. It is part of our Terms of Service. Escrow fees are also covered in our Escrow Terms.
- You see every fee before you confirm. The app shows the fee and the total you'll pay or receive before you approve anything. If you don't agree, don't confirm.
- The person who starts a transaction pays its fee, unless this page or the escrow terms say otherwise.
- Fees are charged in the transaction's currency, unless the app shows otherwise.
- ChekBuk is not a bank. We are a technology company. Our licensed partners provide payments, payouts, custody and stablecoin services.
Where we list a US dollar amount and you transact in another currency, the app shows the equivalent before you confirm. Features, currencies and payout options depend on your country and are shown in the app.
2. Wallets
| Service | Fee |
|---|---|
| Opening a ChekBuk account | Free |
| Holding balances in your wallets | Free, no monthly fee |
| Identity verification (KYC) | Free |
3. Conversions
| Service | Fee |
|---|---|
| Converting between currencies in your wallets | No separate fee. Our margin is included in the quoted rate. |
When you convert, you get a locked quote showing the rate, any fee, what you'll pay, what you'll receive, and when the quote expires. Confirm before it expires and we honor it. If it expires, you'll get a new one. Our rate may differ from rates published elsewhere because it includes our margin.
4. Transfers Between Users
| Service | Fee |
|---|---|
| Sending to another ChekBuk user (by chektag, email or phone) | Shown in the app before you confirm |
| Receiving from another ChekBuk user | Shown in the app before you confirm |
If the recipient converts what you sent, Section 3 applies to them.
5. Deposits
| Method | Fee |
|---|---|
| Debit or credit card | Shown in the app before you confirm |
| Bank transfer | Shown in the app before you confirm |
| Mobile money | Shown in the app before you confirm |
Your card issuer, bank or mobile network may charge its own fees (Section 10). Some card issuers treat card deposits as cash advances.
6. Withdrawals
| Method | Fee |
|---|---|
| US bank account, standard | 0.25% of the amount + $0.25 |
| US bank account, instant | 1.75% of the amount + $0.25, minimum $0.75 |
| Mobile money | Shown in the app before you confirm |
| A supported digital wallet account (USD, EUR, GBP) | Shown in the app before you confirm |
- Bank payouts go to US bank accounts only for now.
- The name on the bank account must match your verified ChekBuk identity, as checked by our payout partner. You can't pay out to someone else's account.
- Instant payouts need your bank to support them. If it doesn't, choose standard.
- Delivery times in the app are estimates and depend on our partners and your bank.
Payouts to US bank accounts are provided by Stripe. By setting up a payout account you agree to the Stripe Connected Account Agreement (https://stripe.com/connect-account/legal), which includes the Stripe Terms of Service.
7. Stablecoins
| Service | Fee |
|---|---|
| Sending to an external wallet | Network fee shown in the app before you confirm |
| Receiving from an external wallet | Shown in the app before you confirm |
Stablecoin sends can't be reversed once broadcast. You're responsible for the right address and network. We screen sends against sanctions lists (including OFAC). Network fees change with network conditions. Stablecoins aren't covered by any deposit insurance and can lose value.
Some digital-dollar features are provided by our partners, and you'll be asked to accept their terms in the app before you use them.
8. Escrow
| Tier | Fee |
|---|---|
| Standard | Free |
| Verified | 1.5% of the escrow amount, minimum $5, maximum $250 |
The Verified fee can be paid by the payer, the beneficiary, or split between them, as set on the escrow. It isn't charged until funding, so you pay nothing if the escrow is cancelled before funding. Once we've verified a requirement, the fee isn't refunded. For other currencies, the minimum and maximum are converted into the escrow currency and fixed when the escrow terms are agreed. See the Escrow Terms for details, including the Verified refund guarantee.
9. Worked Examples
For illustration only. The app always shows the exact fee before you confirm.
| Transaction | Calculation | Fee |
|---|---|---|
| $100 standard US bank withdrawal | 0.25% of $100 = $0.25, plus $0.25 | $0.50 |
| $1,000 standard US bank withdrawal | 0.25% of $1,000 = $2.50, plus $0.25 | $2.75 |
| $100 instant US bank withdrawal | 1.75% of $100 = $1.75, plus $0.25 | $2.00 |
| $20 instant US bank withdrawal | 1.75% of $20 = $0.35, plus $0.25 = $0.60, below the minimum | $0.75 (minimum) |
| $10,000 Verified escrow | 1.5% of $10,000 | $150.00 |
| $200 Verified escrow | 1.5% of $200 = $3.00, below the minimum | $5.00 (minimum) |
| $50,000 Verified escrow | 1.5% of $50,000 = $750.00, above the cap | $250.00 (cap) |
| $10,000 Standard escrow | No fee | $0.00 |
10. Other Parties' Fees
Others may charge fees we don't set or collect. For example:
- your bank, card issuer or mobile network may charge to send or receive money, or for card use;
- intermediary or receiving banks may deduct fees from payments;
- a card issuer or bank may apply its own rate and fees if it converts currency before money reaches ChekBuk; and
- blockchain networks charge fees for stablecoin transactions.
We're not responsible for fees or exchange rates set by others.
11. Changes to Fees
We'll give you at least 30 days' notice of any fee increase or new fee, by email or in the app, unless the law or our partners require a change sooner. We may cut or waive fees at any time without notice. The fee that applies is the one shown when you confirm.
12. Taxes
Fees exclude any taxes we're required to collect. If we must collect tax on a fee, we show it before you confirm. You're responsible for taxes on your own transactions, income or gains, including from currency conversion or stablecoins.
13. Contact
Fee questions: use in-app support or email support@chekbuk.com. If you think we charged you wrongly, see our Complaints Policy.