1. Does the platform charge any service fees for fiat deposits or withdrawals?
No. UMX currently does not charge any service fees for fiat deposits or withdrawals. The platform service fee is 0.
During the deposit, withdrawal, or refund process, the sending bank, intermediary banks, or receiving bank may charge bank fees according to their own schedules. The exact fees will be shown on the page before you submit your transaction. The bank fees displayed on the withdrawal page are bank transfer charges that you are required to bear instead of UMX platform service fees.
2. What are the bank fees shown on the fiat withdrawal page?
The bank fees displayed on the withdrawal page are bank transfer charges that you are required to bear. These are not UMX platform service fees.
These fees may vary depending on:
- The fiat currency being withdrawn;
- The receiving country or region;
- The receiving bank;
- The payment channel used;
- Whether the transfer is international or domestic;
- The platform's current fee policy.
To help reduce customer withdrawal costs, the platform may, based on its current policies, absorb or subsidise part of the bank and intermediary fees.
Before you submit a withdrawal request, the page will show the fees you need to bear and the estimated payout amount. Please review the information carefully before submitting.
3. What will be the final amount received after I initiate a withdrawal?
The platform will arrange payment as closely as possible to the payout amount you confirmed on the withdrawal page, and will apply appropriate bank fee coverage options to reduce deductions by the sending bank or intermediary banks.
For eligible withdrawal channels, the platform may absorb or subsidise part of the bank and intermediary fees in accordance with its current policies, to help ensure the recipient receives the full payout amount.
However, the following factors may still affect the final amount credited:
- The receiving bank may charge an incoming fee based on its own policies;
- The receiving bank or local clearing institution may charge additional fees;
- Incorrect receiving account information may result in return, correction, or extra handling fees;
- Special currencies, regions, or non-standard banking channels may incur extra charges;
- Banks may have special rules regarding the allocation of international transfer fees.
The final credited amount will be subject to the actual processing result of the receiving bank.
4. Are fiat deposits charged?
UMX does not charge deposit service fees.
Your sending bank or intermediary banks may charge transfer fees. These fees may vary depending on the bank, currency, country/region, and transfer method. Please confirm the applicable fees with your sending bank before initiating the transfer.
If you want the platform to receive the full deposit amount, we recommend that you select OUR (sender bears all bank charges) when instructing your bank.
If you select SHA (charges shared) or BEN (beneficiary bears all charges), intermediary banks may deduct fees from the transfer amount, resulting in the platform receiving less than your original deposit order amount.
International transfers generally offer the following fee-bearing options:
- OUR: Sender bears all sending and intermediary bank fees – recipient typically receives full amount.
- SHA: Sender bears sending bank fees; recipient bears receiving bank fees. Intermediary fees may be deducted.
- BEN: Recipient bears all bank charges, which may be deducted from the transferred amount.
Fee-bearing rules may vary by country, region, and bank. Please refer to your bank's instructions for details.
5. Why is the deposit amount actually received by the platform less than the amount I sent?
If you selected SHA or BEN with your sending bank, the sending bank, intermediary banks, or receiving bank may deduct fees from the transfer amount, resulting in the platform receiving less than your original remittance amount.
Other possible reasons include:
- The sending bank charged transfer fees;
- Intermediary banks charged clearing fees;
- The currency sent differs from the settlement currency;
- Currency conversion incurred exchange costs;
- Incomplete transfer information resulted in extra handling fees.
The platform will match and credit deposits based on the actual amount received by the bank.
6. Are refunds charged?
Refund fees depend on the reason for the refund, the stage at which it is initiated, and the bank's processing policies.
- If the withdrawal has not yet been sent to the bank, cancellation typically does not incur bank refund fees.
- If the refund is due to platform or bank channel reasons, the platform will bear or handle the relevant fees based on the actual situation.
- If the refund is due to incorrect receiving information, the receiving account being unable to accept funds, or a customer-initiated return request, the sending bank, intermediary banks, or receiving bank may charge applicable fees.
- When funds are returned via the same bank path, intermediary banks may deduct fees from the refund amount, so the actual amount refunded may be less than the original withdrawal amount.
The final refund fees will be subject to the actual processing result of the bank.
7. Why might the receiving bank still charge fees?
The fee policies of the sending bank, intermediary banks, and receiving bank are independent of each other. Even if the platform has already handled the sending bank and intermediary bank fees according to the applicable fee-bearing option, the receiving bank may still charge an incoming fee or other fees based on its own policies.
Such fees are determined and collected by the receiving bank and are not UMX platform charges. We recommend that you check the fee policies of your receiving bank directly.
8. Does the platform subsidising bank fees mean that no fees will be charged in the future?
The platform may absorb or subsidise part of the bank and intermediary fees for eligible currencies, channels, customers, or transactions based on its current fee policies.
The platform's fee policies are subject to change based on bank channel costs, market conditions, customer types, and operational strategies. Please refer to the fees displayed on the page before you submit your transaction for the most up‑to‑date information.