The MiFinity fees and limits are one of the most important information you need to know before you start using your personal account. Therefore, we summarized all essential details for you in the following tables to give you a quick and comfortable overview.
It is also worth to mention, that MiFinity offers a virtual IBAN (only EEA and UK customers) for every account owner. More details about that you can find our MiFinity IBAN article. Having an IBAN connected with your account simply gives you the option to make a SEPA transfer directly from your bank account to your MiFinity wallet for free.
We therefore highly recommend applying for this option in your account and use the free deposit option.
MiFinity Fees – Overview
The following table gives you an option about the most common and essential MiFinity fees that you need to know. Especially for deposit fees, there are many more as there are lots of local options depending on your country of residence.
If you are interested in specific MiFinity fees which are not listed here, feel free to contact us. We will then help you find all details about that.
Deposit Fees
- SEPA Bank Transfer
- VISA EEA
- VISA non-EEA
- MasterCard EEA
- MasterCard Non-EEA
- UnionPay
- Cryptocurrency BTC, BCH, ETH, LTC, XRP
- Giropay
- HSBC
- Ideal
- Klarna
- Multibanco
- MiFinity eVoucher (AUD,CAD,CHF,EUR,GBP,USD)
- MiFinity eVoucher (JPY,NOK,PLN,RUB,ZAR,CNY,INR,CZK,DKK,SEK)
- Paysera
- Trustly
- Trustpay
- Western Union
- MiFinity Verified Accounts
- FREE
- 1.8%
- 2.5%
- 1.8%
- 2.5%
- 1.8%
- 1.8%
- 1.8% + 0.25 EUR
- 4.5%
- 0.50 EUR
- 1.8% + 0.19 EUR
- 2.3% + 1.10 EUR
- 4%
- 5%
- 4.2% + 0.50 EUR
- 1.8% + 0.19 EUR
- 4% + 0.40 EUR
- 4.5%
Send & Receive Money Fees
- Send money between own MiFinity eWallets
- Send money to friends & family
- Send money to bank accounts
- Receiving money is always free of charge
- Virtual IBAN creation
- Virtual IBAN maintenance
- MiFinity Verified Accounts
- 1% (Maximum 1 EUR)
- 1% (Maximum 10 EUR)
- FREE
- FREE
- FREE
- FREE
Withdraw Fees
- SEPA Bank Transfer
- VISA EEA
- VISA non-EEA
- MasterCard EEA
- MasterCard Non-EEA
- Cryptocurrency BTC, BCH, ETH, LTC, XRP
- MiFinity Verified Accounts
- FREE
- 1 EUR
- 1.75 EUR
- 1.75 EUR
- 2 EUR
- 1.8%
MiFinity Fees for Currency Conversion
For transactions involving currency conversion, MiFinity normally adds a fee of 2.99%. However, this may vary for some really exotic currency pairs.
MiFinity Fees for inactive Accounts
Your MiFinity Account is free for personal use. However, if you do not log in for 12 months, your account will become inactive and a service fee of 1 EUR per month will be deducted from the funds in your account. Of course negative amounts are not possible and you will not be charged if there are no funds left in your account.
MiFinity Limits – Overview
Knowing your account’s limit is an important topic as well. Of course, you want to make sure to be always able to transfer and receive the amounts you want or need.
MiFinity Limits are basically separated into three account verification level.
- Unverified MiFinity account:
If your MiFinity account is unverified, you
can transact up to 150 EUR over a 365-day rolling period. Once reached, no further transactions will be possible and you have to verify your MiFinity account by confirming your identity. Our MiFinity Verification Guide give you some more details about that. Once you pass the 150 EUR, you can transact up to 1,000 EUR during the 30-day timer to verify. - Verified MiFinity account (Identity Verification):
This is the lowest verification level and will increase your account limits to up to 20,000 EUR. Only some ID identification document (passport, ID card, driving license) and a selfie is needed to finish this stop. - VIP MiFinity account verification (Full Verification):
This is the final verification step and will increase your MiFinity Limits to the maximum. Here you need to provide a proper address verification document (e.g., bank statement, utility bill) and source of income proof (e.g., payslip) and a most recent bank statement showing some deposits from your bank account to your MiFinity account.
The VIP verification process might to seem a bit much. However, as a regulated eWallet provider, MiFinity has to follow some rules to make sure that only “real” people are using their accounts and money in the system comes through legit sources.
We hope this will give you a good and detailed overview about the most important MiFinity fees and your account limits. As usual, the fee structure can be overwhelming, so please feel free to get in touch with us anytime you have a question about it. We are always happy to help.
More details you can also find on the MiFinity fees you can also find on their homepage with some additional information.
