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ACH Return Fee & Inactivity Fee

ACH Return Fee

What is the ACH Return Fee?

The ACH Return Fee is a $6 charge that occurs when an inbound transfer, initiated through the Upgrade app or website, is returned due to insufficient funds by the external bank being pulled from.

When does the ACH Return Fee apply?

The fee applies when an ACH transfer initiated through the Upgrade app or website is returned for reasons such as insufficient funds or an invalid account.

Are there any exemptions for the ACH Return Fee?

Customers may, from time to time, have this fee waived. However, fees will never be waived if the reason for the return is that the transfer was unauthorized.

How can I avoid the ACH Return Fee?

Ensure that the external bank account is open; that you are authorized to make transfers from the external bank account to a personal account; and that there are sufficient funds available in your external bank account before initiating a transfer into your Upgrade account.

Does this fee apply to all ACH transactions?

No. The fee only applies to ACH transfers initiated through the Upgrade app or website that are returned due to insufficient funds in your external account.

Inactivity Fee

What is the Inactivity Fee?

The Inactivity Fee is a $2.50 monthly fee applied to checking and savings accounts.

How is inactivity determined?

Inactivity is determined if the cumulative balances across all checking and savings accounts opened through Upgrade is less than $10, and there have been no logins, transactions, payments, or funding activity for 365 days across all checking, savings, and lending products through Upgrade, as applicable.

When will I be charged the Inactivity Fee?

The fee is charged on a monthly basis once a customer has been deemed inactive. Customers will receive a 30-day notice to the email on file before the fee is applied.

How can I avoid the Inactivity Fee?

To avoid the fee, customers can:

  • Maintain a cumulative account balance greater than $10 across all checking and savings accounts opened through Upgrade.
  • Log in to any checking, saving, or Cross River Bank lending product account at least once per year.
  • Complete any transaction, such as making a deposit, a withdrawal, or a loan payment for a lending account through Upgrade, as applicable.

Will the inactivity cause my account to go negative?

No, the inactivity fee will never cause your account to drop below $0.

What happens if my account remains inactive?

If an account remains inactive for a prolonged period, it may be closed or escheated in accordance with applicable regulations.

Who can I contact if I have more questions?

If you have any further questions, please reach out to our support team at depositsupport@upgrade.com or call us at (844) 319-3692.

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