Virtual Currency Transfer Fees

In general, LBX does not charge a fee to use our Hosted Digital Currency Wallet service. Transfers of virtual currency to an address off the LBX platform may incur network transaction fees, such as bitcoin miner’s fees, which LBX may pass on to you. Any such transfer fees will be disclosed to you at the time of the transaction. 

Exchange Rate

Your exchange rate for buying or selling digital currency through our Conversion Service is calculated as the market rate of the digital currency on the Kraken platform, plus a spread between 0 to 200 basis points determined by the size of your transaction, market volatility and length of time using LBX ("Exchange Rate"). In rare circumstances, the market rate from Kraken may not be available due to outages or scheduled maintenance. In order to provide you with uninterrupted services at such time, we may derive market pricing data from unaffiliated digital currency exchanges. Exchange rates quoted in these circumstances are subject to spread exceeding 100 basis points. The final exchange rate will be quoted to you before you complete your transaction.

Conversion Fees

We may charge fees (“Conversion Fees”) to use the Conversion Service, which vary based on your location, payment method, and other circumstances. In some cases we may charge an additional fee on transfers to and from your bank account.  

We will always notify you of Conversion Fees and any other service fees that apply to each transaction in the aggregate, in two instances: (1) immediately before you confirm each transaction and (2) in the receipt we issue to you immediately after each transaction has processed. Unless otherwise disclosed to you at the time of your transaction, the Conversion Fees you pay is calculated by one of two methods:

Method 1:

The greater of:

(a) Minimum fee a flat fee that applies to conversion transactions under $200, and which is disclosed before you execute the transaction.

(b)  Percentage fee a variable fee determined by region, product feature and payment type, calculated as follows:

Australia

Credit / Debit Card Buys

3.99% 

Canada

Credit / Debit Card Buys

3.99%

Europe

Standard Buy / Sell  Instant Buys  (Credit / Debit Card only) Bank transfers (SEPA)  - in / out*

1.49% 3.99% Free / €0.15

Singapore

Buy / Sell Credit / Debit Card Buys

1.49% 3.99%

UK

Standard Buy / Sell Instant Buys (Credit / Debit Card only) Bank wires - in / out * Bank transfers (SEPA) - in / out *

1.49% 3.99% N / A Free / €0.15

USA

Base rate of 4% for all transactions**

Payment Method for Purchase Effective Rate of Conversion Fee (after waiver)

U.S. Bank Account 1.49%, with a $0.15 minimum

LBX USD Wallet 1.49%

Credit/Debit Card 3.99%***

Payout Method for Sale Effective Rate of Conversion Fee (after waiver)

U.S. Bank Account 1.49%, with a $0.15 minimum

LBX USD Wallet 1.49%

PayPal 3.99%

USD Deposit Method Fee

ACH Transfer Free

Wire Transfer $10 ($25 outgoing)

* Note - In some cases your bank may charge additional fees for transfers between your bank account and your LBX account.

** The base rate for all Purchase and Sale transactions in the U.S. is 4%. LBX waives a portion of the Conversion Fee depending on the payment method you use. The effective rate of the Conversion Fee disclosed here is calculated as the base rate, net of fee waivers. The base rate does not apply to U.S. Dollar deposits and withdrawals.

*** Note - Your bank may charge additional fees for LBX credit card purchases. To avoid these fees, switch to debit card or bank account.

Method 2:

Percentage fee  - 1% variable fee based on the amount of your transaction but subject to a minimum fee of $1.00 and a maximum fee of $50 (“Variable Fee”) and, depending on the region, product feature and payment type identified below, a fixed rate percentage of 2.49% ("fixed fee").

Australia  

Credit / Debit Card Buys

Variable Fee and Fixed Fee

Canada

Credit / Debit Card Buys

Variable Fee and Fixed Fee

Europe

Standard Buy / Sell  Instant Buys  (Credit / Debit Card only)Bank transfers (SEPA)  - in / out*

Variable Fee Variable Fee and Fixed Fee Free / €0.15

Singapore

Buy / SellCredit / Debit Card Buys

Variable Fee Variable Fee and Fixed Fee

UK

Standard Buy / Sell  Instant Buys  (Credit / Debit Card only)Bank wires - in / out *Bank transfers (SEPA) - in / out *

Variable Fee Variable Fee and Fixed Fee N / A Free / €0.15

USA

Base rate for all transactions is described in Method 2 Percentage fee above**

Payment Method for Purchase  Effective Rate of Conversion Fee (after waiver)

U.S. Bank Account Variable Fee

LBX USD Wallet Variable Fee

Credit/Debit Card Variable Fee and Fixed Fee ***

Payout Method for Sale  Effective Rate of Conversion Fee (after waiver)

U.S. Bank Account Variable Fee

LBX USD Wallet Variable Fee

PayPal Fixed Fee

USD Deposit Method  Fee

ACH Transfer Free

Wire Transfer $10 ($25 outgoing)

* Note - In some cases your bank may charge additional fees for transfers between your bank account and your LBX account.

** The base rate for all Purchase and Sale transactions in the U.S. is described in "Method 2 Payment fees." LBX waives a portion of the Conversion Fee depending on the payment method you use. The effective rate of the Conversion Fee disclosed here is calculated as the base rate, net of fee waivers. The base rate does not apply to U.S. Dollar deposits and withdrawals.

*** Note - Your bank may charge additional fees for LBX credit card purchases. To avoid these fees, switch to debit card or bank account.

**** All credit cards and debit card payments are processed through LBX UK, Ltd, an affiliated company of LBX, Inc. 

London Bitcoin Exchange Ltd.
20-22 Wenlock Road
London
N1 7GU
United Kingdom

© LBX 2018, Registered in England and Wales. Company No 11227379