Luno Dormancy Fee Hits $50 Monthly as Crypto.com Raises Card Charges
Two major crypto providers have increased monthly penalties for dormant accounts, with fees reaching up to $52 per month.
Luno has set a dormancy fee of $50 per month for users with residual balances. This charge begins in December following an initial $2 monthly fee in September. Crypto.com is also raising its prepaid card inactivity fee to $5.95 per month. These changes affect customers who have not conducted financial transactions for twelve months.
The fees apply regardless of the account balance size. A flat rate structure means small residual holdings deplete quickly. Most providers do not list these specific rates on public fee pages. Users must log in to view the exact charges applicable to their specific account type.
Flat Rates Drain Small Balances
Inactivity fees are fixed monthly debits that do not depend on trading volume. They replace the cost of account maintenance for dormant users. A fee of $5.95 is negligible on a large portfolio. However, it consumes over 7% of a $60 balance each month. This mechanism systematically erodes small, forgotten holdings over time.
The trigger for these charges is typically twelve months without activity. Activity is defined as a movement of money, not just a login. Purchases, sales, deposits, or withdrawals reset the inactivity clock. Merely checking the account balance does not stop the fee accrual at most venues.
Provider-Specific Fee Structures Vary
Crypto.com applies its new $5.95 rate to US prepaid cards only. This excludes trading accounts and European Union card products. The charge stops immediately when cardholder-initiated financial activity resumes. The twelve-month counter then restarts from zero. This creates a clear boundary between active and dormant status.
Luno has exited several regions, including the European Economic Area. Customers were asked to close their accounts by a specific date. Balances remaining after this deadline now face the higher dormancy fee. Reports from trade outlets confirm the escalation from $2 to $50. This reflects a harsher penalty for ignored assets in exited markets.
Public Fee Pages Hide Details
A survey of fifteen fee pages shows limited public disclosure. Specific inactivity rates are rarely visible without authentication. Users cannot easily compare dormant account costs across different exchanges. This lack of transparency forces individual checks for each account. The burden of verification falls entirely on the customer.
GN markets/crypto (en-US) notes that providers state mechanics openly in their terms. They specify the start date, rate, and stopping condition. However, these details are often buried in account-specific agreements. Users must actively search for these clauses to avoid unexpected debit. The cost of inaction is financial and informational.
