We are very transparent about all the charges on Bamboo. will always display the calculation of how much this fee comes to, for every transaction you are about to make. This is so that you can confirm before sending off your order.
Here is a quick overview of all the charges on Bamboo.
- With a Naira Card: Charges with a Naira card are 1.4%. These charges are capped and will not exceed ₦2000.
- With a Naira bank transfer: A Naira bank transfer has a flat rate of ₦150 regardless of the amount being deposited.
- With a USD Card: Charges with a USD card are 2.9%.
- Using a USD wire or domiciliary transfer: There are no charges when using a wire transfer on Bamboo. However, you may be charged by your bank.
- Barter Transfer: When using the Barter app, you will be charged a 1.4% fee on the amount you deposit.
- Instant Deposit: There is an additional fee of 0.1% on instant deposits, with a minimum fee of $1 and a maximum fee of $10. This means that if 0.1% of the amount you are depositing is more than $10, the extra fee will be $10. However, if 0.1% of the amount you are depositing is less than $1, the extra fee will be $1. The instant deposit fee is an additional fee to the already existing deposit fee for each payment method above. E.g. the Naira bank transfer fee is ₦150. If your instant deposit fee is $1 at an exchange rate of ₦480 for example, and you choose the Naira bank transfer option, you will pay a total deposit fee of ₦630. Instant deposits are unavailable for USD wire/domiciliary transfers.
We charge a 1.5% commission when you buy and sell stocks on the U.S. stock markets. You can hold stocks for as long as you like and you will not be charged for holding stocks or leaving funds in your Bamboo wallet.
If you deposited from a Naira payment option, you can only withdraw to a Naira account. If you deposited from a USD payment option, you can only withdraw to a USD account. There is a withdrawal fee of ₦45 to Naira bank accounts and $45 to USD bank accounts.
There is a 30% WHT (Withholding Tax) on dividends, which is a mandatory tax taken by the U.S. government for individuals buying stock outside of the U.S.
For more information, please feel free to check full details on our terms of service and disclosures on investbamboo.com/legal
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