Pricing Policy

OBJECTIVES AND DEFINITIONS

This policy outlines Relai’s fee structure, commission structure, and referral structure. It will come into force on 20 Jan 2025.

The objective of this policy is to offer a fee structure that is:

1. transparent and fair for users,

2. simple and easy to understand, and

3. compliant with the applicable regulatory framework.

In this pricing policy, Referral means a person or entity who is directed to a company’s services through a third party, typically as part of a referral or affiliate program. The referral may benefit from special incentives, discounts, or offers for using the company’s services

FEE STRUCTURE

Unless otherwise specified, amounts are valid for both CHF and EUR.

RELAI APP

Fee income

• 1.0% service fee (-10% discount on service fee for referred users, forever) and
• Price spread in line with market practice to mitigate market volatility risk.

Fee expense

• 10% of service fee (of the referred user’s transactions) paid out to referrer as referral commission, forever.
• Referrers need to have completed their KYC process to receive commissions.
• Referral commissions are paid out once a month and only when they are above 10 CHF or EUR. If below the threshold, then the balance is moved to the next month.

Network fees

• Users cover Bitcoin network fees when selling Bitcoin, given the non-custodial nature of the wallet. These fees are challenging to calculate precisely due to multiple factors, so it is not possible to provide a fixed percentage or estimate. Users see the fee before confirming their order, but it varies based on transaction size (e.g., number of UTXOs) and network congestion.
• Relai covers network fees when users buy Bitcoin. Depending on network congestion, the payment may be delayed until normal market conditions resume.  For example, during periods of heightened activity on the Bitcoin network (e.g., when transaction volumes surge due to market volatility or major global events), network fees can spike significantly. In such scenarios, fees may reach exceptionally high amounts, making it impractical or uneconomical to proceed with the transaction. In these rare cases, it may be advisable to postpone the execution until the fees return to reasonable levels.

Other

• A minimum amount of 50 CHF or EUR is required to trade in the app.
• Users get a service fee-free 100 CHF or EUR purchase per calendar month (no “revenue sharing” for referrals for these amounts, as there is no service fee revenue for Relai). This applies only to one-time orders (not to savings plans), and only for trades below 100 CHF or EUR.
• Credit card transactions include an additional charge to the user of 3.0% per transaction to cover for payment provider fees. The fee charged by the payment provider varies between 1.5% and 3.0% (2.0% on average in 2024).
• Refunds apply when users send funds without an existing order or in a different amount or currency from the existing order.

RELAI PRIVATE

Fee income

• 0-100k: 1.0% service fee,
• 100.001-250k: 0.9% service fee, 
• 250.001-500k: 0.8% service fee, 
• 500.001-750k: 0.7% service fee, 
• 750.001-1.0m: 0.6% service fee, 
• 1.000.0001-5.0m: 0.5% service fee,
• 5.000.001-10m: 0.4% service fee,
• 10.000.0001-50m: 0.3% service fee,
• 50.000.001-100m: 0.2% service fee,
• 100m+: 0.1% service fee.
• With a -10% discount on service fee for referred users, forever. Since Private & Business users will either already have a referral code or receive a referral code from Relai’s sales agents, this discount will apply in all cases.
• Price spread in line with market practice to mitigate market volatility risk.

Fee expense

• 10% of service fee (of the referred user’s transaction) is paid out as referral fee (with a referral code that can also be used in the App) to the referrer.
• Referrers need to have completed their KYC process to receive commissions.

Network fees

• Users cover Bitcoin network fees when selling Bitcoin, given the non-custodial nature of the wallet. These fees are challenging to calculate precisely due to multiple factors, so it is not possible to provide a fixed percentage or estimate. Users see the fee before confirming their order, but it varies based on transaction size (e.g., number of UTXOs) and network congestion.
• Relai covers network fees when users buy Bitcoin. Depending on network congestion, the payment may be delayed until normal market conditions resume. For example, during periods of heightened activity on the Bitcoin network (e.g., when transaction volumes surge due to market volatility or major global events), network fees can spike significantly. In such scenarios, fees may reach exceptionally high amounts, making it impractical or uneconomical to proceed with the transaction. In these rare cases, it may be advisable to postpone the execution until the fees return to reasonable levels.

Other

A minimum amount of 100,000 CHF or EUR to trade on Relai Private.

RELAI BUSINESS

Fee income

• 0-100k: 2.0% service fee,
• 100.001-250k: 1.8% service fee, 
• 250.001-500k: 1.6% service fee, 
• 500.001-750k: 1.4% service fee, 
• 750.001-1.0m: 1.2% service fee, 
• 1.000.001-5.0m: 1.0% service fee,
• 5.000.001-10m: 0.8% service fee,
• 10.000.001-50m: 0.6% service fee,
• 50.000.001-100m: 0.4% service fee,
• 100m+: 0.2% service fee.
• With a -10% discount on service fee for referred users, forever. Since Private & Business users will either already have a referral code or receive a referral code from Relai’s sales agents, this discount will apply in all cases.
• Price spread in line with market practice to mitigate market volatility risk.

Fee expense

• 10% of service fee (of the referred user’s transaction) is paid out as referral fee (with a referral code that can also be used in the App).
• Referrers need to have completed their KYC process to receive commissions.

Network fees

• Users cover Bitcoin network fees when selling Bitcoin, given the non-custodial nature of the wallet. These fees are challenging to calculate precisely due to multiple factors, so it is not possible to provide a fixed percentage or estimate. Users see the fee before confirming their order, but it varies based on transaction size (e.g., number of UTXOs) and network congestion.
• Relai covers network fees when users buy Bitcoin. Depending on network congestion, the payment may be delayed until normal market conditions resume. For example, during periods of heightened activity on the Bitcoin network (e.g., when transaction volumes surge due to market volatility or major global events), network fees can spike significantly. In such scenarios, fees may reach exceptionally high amounts, making it impractical or uneconomical to proceed with the transaction. In these rare cases, it may be advisable to postpone the execution until the fees return to reasonable levels.

Other

A minimum amount of 25,000 CHF or EUR to trade on Relai Business.

EXAMPLE SCENARIOS

FOR ALL SCENARIOS

• Bitcoin’s price (before Relai’s price spread) is the price at which Relai purchases Bitcoin for that transaction. In other words, any price spread charged by the exchange that Relai uses is passed on to the users. 

SCENARIO 1

• A user transacts 60 EUR in Relai App, without referral code, via one-time order.
• The service fee is 0, because all users get the first 100 CHF or EUR free of service fee. The price spread applied is 1.0%, i.e. 0.60 EUR.
• The user then transacts another 60 EUR in Relai App within the same calendar month, still without referral code.
• The first 40 EUR of this second transaction are service fee-free, because that was the remainder amount to reach the “first 100 EUR” of the calendar month. The service fee is, however, applied to the remaining 20 EUR, so that the transaction generates a 0.20 EUR service fee in addition to the 1.0% price spread applied to the full 60 EUR, i.e. another 0.60 EUR.

SCENARIO 2

• If the user in scenario 1 was using a savings plan instead of a one-time order, he would have also paid the service fee on the full amount.

SCENARIO 3

• Ms. Private trades 300k in Relai Private after being sourced by Mr. Relai Agent.
• The service fee (for 250k to 500k deals) is 0.8%, on which Ms. Private gets a 10% discount because she uses Mr. Relai Agent’s referral code. She therefore pays 300k x (0.8% x (1-10%)) = 2,160 of service fee to Relai. Relai also charges her 300k x 1% = 3,000 of price spread.
• Mr. Relai Agent does not get a referral commission.

SCENARIO 4

• Mr. Business trades 200k in Relai Business and is referred by Mr. Friend.
• The service fee (for 100k to 250k deals) is 1.8%, on which Mr. Business gets a 10% discount because he has a referral code (from Mr. Friend). Mr. Business therefore pays 200k x (1.8% x (1-10%)) = 3,240 of service fee to Relai. Relai also charges him 200k x 1% = 2,000 of price spread.
• Mr. Friend gets a referral commission on the amount before the discount is applied, i.e., 10% x 1.8% x 200k = 360.

SCENARIO 5

• Ms. Private, the following week, trades in the app another 10k, but has changed her referral code to input the referral code of her husband instead.
• The service fee is 1.0% on which she gets a 10% discount, thus paying 10k x 1.0% x (1-10%) = 90 of service fee. Relai charges her 1.0% of price spread, i.e. 100.
• Ms. Private used the referral code of her husband, he therefore gets his 10% cut from the trade in App, i.e., 10k x 1.0% x 10% = 10.

SCENARIO 6

• Ms. Client submits an order to trade 2k CHF in the app and pays via instant SEPA, however she sends 2k EUR instead of 2k CHF.
• The payment bounces back, which costs 0.60 CHF and is borne by Relai.
• No service fee nor price spread is charged. Ms. Clients gets her 2k EUR back. 
• The standing order remains pending in Relai’s app.

SCENARIO 7

• Ms. Client submits an order to trade 1k in the app on a Saturday, using a credit card for payment (when paid via credit card, the amount always matches the order) and not indicating any referral code. 
• Ms. Client is charged credit card fees of 3.0% by Relai. Based on her payment provider and currency used, the effective credit card fee that Relai had to pay is 2.2% (just an example, as fees typically vary between 1.5% and 3.0%). Relai pays the 2.2% fee to the credit card company processing these payments (Checkout) and retains the remaining 0.8% as additional income.
• Relai’s service fee is 1.0%, thus paying 1k x 1.0% = 10 of service fee. Relai also charges 1.0% of price spread, i.e. 10.