5 min with the CEO: Why is there a payout limit?
Looking specifically at our platform, when the COVID-19 situation started, our payout requests increased more than 10 times compared to usual circumstances. It escalated even more with lots of investors reaching out to our support team. Additionally, investors started testing the payout process and withdrawing small amounts just to feel more confident. Therefore, both our support and financial teams were under pressure in dealing with the circumstances that unfortunately no one was expecting before.
This situation has increased our operating costs, considering that we are charged for each transaction. Therefore, we needed to adapt to new circumstances and that is the reason why we have introduced a temporal payout limit. I would like to note that this measure was chosen to ensure stable balance operations and is a temporal measure only until the market stabilizes. Please read more in our FAQs.
I apologize to everyone who feels not informed in advance about changes well enough. Unprecedented situations require unorthodox actions.
To reduce the effects on our investors, we’ve also introduced a remuneration for late payouts – Lag Ante, which rewards late payouts with a 0.01% interest rate for each day when the payout is late (starting from the day 8th after the request), which is a 3.6% annual interest rate. We hope that in this way we can partially compensate for all inconveniences our investors experience.
Our support team is working full time to answer all your questions and concerns, but we ask you to be patient as we do get an increased amount of inquiries.
Thank you for choosing FAST INVEST,