An Update on Deposit, Conversion & Transfer Fees on Raenest

At Raenest, we spend a lot of time thinking about one thing: how to make your money easier to manage as your income grows.

As more people rely on Raenest to receive payments, convert funds, and move money across borders, we’re making a few updates to how fees work on the platform to help us serve you while we scale. The goal is simple and unchanged — keep costs predictable, capped, and among the lowest you’ll find, while building a system that can support you long term. Here’s a clear breakdown of what’s changing, what’s staying the same, and what it means for you.

Two Free Deposits. Every Month

We saw how much you enjoyed our free deposits and have decided to make it permanent. Starting at 1 p.m. WAT today, every Raenest user gets two free deposits every month across: USD, GBP, EUR, USDT and USDC. No fees. No catch. Just like you enjoyed in November and December last year. This is our way of making sure you can fund your account regularly, whether you’re receiving earnings, topping up, or moving money across borders, without paying extra. Note that this excludes SWIFT deposits.

Conversion fees

Starting at 1 p.m. WAT today, we are introducing conversion fees across corridors; however, these fees are capped, giving you clarity and predictability with each conversion. For instance:

• Nigeria: 0.7% capped at $6
• Ghana: 0.7% capped at $7
• Kenya: 0.7% capped at $8

See more information on our new conversion fees here

This means no percentage surprises. Once you hit the cap, that’s it, no unpredictable percentage-based fees that grow endlessly as you earn more. To put this into perspective:

• If you receive $1,000 from a client. Thanks to your two free deposits, the full amount enters Raenest.
• When you convert to NGN with the new capped fee of $6 means you get $994.
• Under the old system, the same transaction would have left you with $992.

That’s an extra $2 back in your account, so even with conversion fees, you’re technically saving more than before. All this while still enjoying:

• Free NGN operations
• Free monthly deposits
• No stamp duty
• Fast global settlements across fiat and stablecoins

Deposit fees

Once your two free deposits are used, deposits into USD, GBP, EUR, USDT and USDC will continue to attract a 0.8% deposit fee. However, to protect you as volumes grow, we’ve reduced the maximum deposit fee from $12 / £12 / €12 to $10 / £10 / €10. No matter how much you receive, you’ll never be charged above this cap. See more information on our deposit fees here.

What also remains free

• No charge on NGN funding
• No charge on NGN transfers
• No stamp duty on NGN transfers

Raenest continues to cover these costs for you so you don’t lose money, and every monetary expectation is balanced out.

In all, our commitment remains the same: to keep building a platform you can rely on as your work, income, and ambitions grow. One that’s clear about costs, dependable at scale, and designed to move with you. Thank you for choosing and growing with us.