From the community

Removal of the 1% load fee

March 13, 2020 | FinTech

Content provided by McLEAR

McLEAR
Removal of the 1% load fee

Since we launched the McLEAR Smart Ring to the UK market, we have had a small 1% load fee implemented – meaning for every £30 loaded on to your ring, we charged a 30p fee to process this transaction. This was due to upstream charges from our suppliers and not something that we ever wanted to continue with for long.

We’ve always said that we were working on reducing this fee with our ultimate goal of completely removing it, as we know how unpalatable this can be when using your ring on a daily basis. Those small fees can begin to add up over time.

Well, today we bring some great news:

As of this week, the 1% load fee is now no more!

We no longer charge any fee for loading funds on to your McLEAR Smart Ring.

Updates to the terms and conditions will be released in the RingPay app which reflect these changes.

We have lots of exciting new updates and features coming up that will be welcomed news for you as a ring user, so keep an eye out for updates on those over the coming months.

If you have any further questions, you can always drop us an email and our responsive customer service team will get back to you asap!

The McLEAR Team

PS. We would love it if you could help us spread the word about this important update by sharing on social media. Give us a mention @mclearco !

 

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