There are two types of charges associated with your Taxi account - Monthly Fees, and Interest on funds accessed.
Monthly Fees:
Taxi now has two main plan types, Standard or Standby. Depending on the plan you select, there will be a monthly fee charged.
On a Standard plan, fees will begin calculating and be charged from when your onboarding is complete (including an AML assessment) and you have available funds on account to access. The monthly fees will be charged at 0.15% of your limit, with a minimum of $29.90 per month.
On a Standby plan, no fees will calculate or be charged until you access funds. The monthly fees will be charged at 0.2% of your limit, with a minimum of $29.90 per month.
Interest:
If you wish to utilise your funds and access these for business use, interest is calculated upfront as a maximum charge once you make the request, based on the amount you request to access.
Any regular or one-off payments you choose to make towards the outstanding amount on your access funds arrangement over the course of the nine-month repayment term will help reduce the interest cost you incur, with an revised interest calculation completed once the arrangement is settled in full. Where we calculate interest based on your repayment dates and amounts is over what needed to have been charged, we will arrange an interest rebate to you for the change to the interest component.
If you access funds multiple times, each amount you access will be treated separately for the purpose of calculating interest, suggested repayments, and any applicable interest rebates. You will be advised of the rates and total amount required to settle the arrangement both at the point of accessing funds, and you can login at any time to check the outstanding balance or suggested repayments towards your access funds arrangement at any time. To check the current pricing available, head to: http://gotaxi.co.nz/pricing.