Trust Broken by Unannounced Fees
Nexo, once seen as a trustworthy crypto exchange, has sparked outrage among users after a sudden fee increase. Without warning, bank transfer fees jumped to £5/€5 for FPS/SEPA withdrawals and $25/£25 for SWIFT transactions.
Users feel betrayed and frustrated, with many fearing a slippery slope of additional charges. “They sent the email right when they implemented it,” one user complained.
Nexo’s Defense Falls Short
Nexo claims the fees cover costs from third-party payment processors. However, users question the lack of transparency and prior notice.
The timing, coming shortly after Nexo reversed another unpopular fee, has further angered the community.
Communication Gap Widens
Users are demanding free fiat withdrawals for Platinum customers. One user pointed out, “You won’t replace banks if you’re worse than them.”
Nexo’s attempt to justify the fees as a way to keep transactions affordable has failed to appease users.
