Update 2/5/23: Readers have clarified with Upgrade that the fee is only when pulling money from your line-of-credit to your bank account.
The Upgrade card sent out notification that starting March 23 there are introducing a 5% fee for ACH transfers:
This is to inform you that, effective on or around 03/23/2023 (the “Effective Date”), any ACH transfer to your bank account will be subject to a fee of five (5) percent of the transfer amount, subject to any limits under applicable law. We may choose to charge a lesser fee. Applicable fees will be disclosed to you at the time you request an ACH transfer. Card purchases are not impacted by this upcoming change (there are no fees for making card purchases).
Crazy fee addition here. Sounds like they’ll only charge when initiating the ACH transfer from within Upgrade to your bank; maybe you can pull funds via an external account without any fees.
Hat tip to reader Peek
