Important Notice – Annual Compliance FeePosted: July 16, 2019
Since 2006, SolidTrust Pay has diligently worked to provide you with outstanding service. We competitively priced our rates, and unlike many of our competitors, we chose to eliminate monthly and annual fees. Regrettably, circumstances change and to meet the increasing demands of global anti-money laundering, crime and terrorist financing regulations, we have instituted an annual compliance fee for all SolidTrust Pay personal and business accounts effective July 19, 2019. For a comprehensive fee table, please see the bottom of this post.
In addition to assisting with rising compliance costs, the fee will help us make improvements to our security infrastructure. This will ensure that your personal information and financial data remains fully protected and beyond the reach of cybercriminals. Furthermore, improvements to our payment platform will make transferring and receiving money online even more convenient and secure.
This fee will enable us to continue to provide the quality and range of services that you have come to rely on. We have refrained from increasing our fees for over a decade, a resolution that continues to guide our fiscal decisions. Our low transaction fees remain unchanged and by restricting the fee’s amount, we have kept our service rates affordable and competitively priced. We strive to provide you with excellent value and promise to continue to make this effort in the future.
The decision to implement a standard flat rate fee for all members ensures that the compliance costs are equally shared, a choice that reflects our mission statement and commitment towards creating a thriving global community. When you reflect on how this small fee will help guarantee the security, privacy and compliance of your personal information, it is our hope that you will see its necessity. We anticipate no additional rate adjustments for the current year.
All of us at SolidTrust Pay would like to thank you for your continued support. Should you have any questions, please contact our Customer Support department. Our representatives will be happy to answer all your inquiries.
|Personal Accounts||$5 per year*|
|Business Starter Accounts||$25 per year*|
|Business Premier Accounts||$50 per year*|
*The compliance fee will be charged annually on the date of your account’s creation.