Stock Fees {FAQs}

Learn about all the fees associated with stock trading at Chipper Cash

Christine avatar
Written by Christine
Updated over a week ago

One-time Stock Access Fee

You will be charged a one-time $10 issuance fee for creating and accessing a Stock account

Monthly Maintenance Fee

You will be charged a $1 monthly maintenance fee for having an active Stock account.

Your USD wallet balance will be charged this fee monthly between the 15th - 20th. If your USD wallet is not funded to cover the charge for the month, that fee will be charged to your NGN wallet at the prevailing exchange rate.

Trading Fees

For transactions below $10,000:
You will be charged a 0.15% fee of the value of the transaction (We have reduced this fee from 1% to 0.15%)

For transactions above $10,000:
You will be charged a FIXED fee of $15.

Frequently Asked Questions (FAQs)

Why am I getting charged a stock maintenance fee?

The maintenance fee applies to all active stock accounts, even if you do not have a stock balance or have never traded.

Did Chipper create a stock account for me? I don’t remember creating one

You successfully created a stock account (portfolio) when you visited the Chipper INVEST tab and completed the stock onboarding process. The process required you to verify your address, identity, and other information as requested.

If you completed these steps when you joined Chipper, it means you have a stock account.

Did Chipper inform me before these charges were implemented?

Yes, we did. Before implementing these charges, we ensured that we sent a communication to all concerned customers. This can also be found in the message center (the bell icon 🔔 on your Chipper homepage).

This was done to allow customers who were not interested to have sufficient time to opt out before the charges were put into effect.

Can I get a refund for the maintenance fee charged?

Unfortunately, this fee is non-refundable. However, we can assist with deactivating your stock account to avoid future charges.

How do I deactivate my stock account?

Please reach out to our customer support team to assist with the deactivation of your stock account. The team will be happy to help with your request.

If I change my mind, how can I access stocks again?

  1. Log into the Chipper Cash app

  2. Tap on the "Invest" tab

  3. Go to the Stock section and reactivate your stock account
    (NB: Please note that you will be charged a non-refundable stock access fee of $10)

Do you need further assistance?

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