Flourish Crypto has two types of fees: execution fees and custody fees. You can read more about Flourish Crypto pricing here.
Execution fees are calculated, displayed, and automatically deducted whenever you buy or sell cryptocurrency in your Flourish Crypto account.
Custody fees are assessed on a quarterly basis. The custody fee will be automatically deducted from your account approximately 7 days following the conclusion of each calendar quarter.
The custody fee is first deducted from any available US Dollars in a Flourish Crypto account. If the custody fee is greater than the available US Dollar balance in the account, bitcoin will be automatically sold in order to cover the remaining fee. Sales of bitcoin to pay the custody fee are subject to execution fees.
Please note that the purchase and sale of bitcoin, including the sale of bitcoin to pay the custody fee, can result in tax liability. As such, if you would prefer to avoid selling bitcoin in order to pay the custody fee, you can ensure there is a sufficient USD in your Flourish Crypto account in order to pay each quarter’s custody fee. Please consult your tax or financial advisor for tax advice.
If you do not have sufficient funds in your Flourish Crypto account in order to pay your quarterly custody fee, your account will be frozen until you remit payment.
Additionally, please note that Flourish Crypto fees cannot be automatically deducted from Flourish Cash accounts at this time. You can easily transfer funds between existing Flourish Cash accounts and Flourish Crypto accounts at any time.