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How does the No Annual Fee option work?
How does the No Annual Fee option work?
Updated over a week ago

Update: As of November 16, 2022, the No Annual Fee account option is no longer available and has been indefinitely paused. Learn more here.

The No Annual Fee (or ‘In-Motion’) account option is a powerful way to put your digital assets to work to subsidize the normal cost of your Choice account.

Account holders that select this option are subject to the terms of the package - which direct Choice to enroll their assets in lending programs managed by vetted, third-parties.

As of August 2022, the applicable agreements for the program which powers No Annual Fee can be found here:

These parties typically lend assets to institutional borrowers to generate interest and at this time, that interest is used entirely to subsidize the cost of custody of your account.

Client assets enrolled in the No Annual Fee program are not locked-up, and can be traded, or moved to our Cold Storage custody option at the account holder's direction, simply by contacting Choice.

Like many assets, digital assets can be volatile and subject to price swings. There is always risk in investing and account holders need to assess their own risk tolerance before making any investment decisions, including enrollment in the No Annual Fee option.

Account holders that select the No Annual Fee option should thoroughly review all terms linked and do your own research (DYOR) on these programs. When lending assets, there is risk of total loss. Account holders assume that risk when directing Choice to enroll their assets in the no annual fee program; and as such, Choice is not responsible for assets which may be lost through these third-parties and/or their counter-parties.

Last updated: November 2022

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