Estateguru announced this year that they charge a €10 fee for an inactive account, and that’s per month! On the price list, it looks like this:
Funds held on your Lemonway account can be used solely for your transactions on the Estateguru platform. As it is a special purpose account, it should not be used for depositing funds without the intention to invest. As inactive accounts create cost to Estateguru, an “inactive account fee” is charged from users who have deposited funds in their accounts but who have not made any new investments on the Primary or on the Secondary market for the last 12 months. Starting in April 2023, the “inactive account fee” was increased to 10 EUR per month for the first year following the 12 month period of inactivity, and will increase to 50 EUR per month thereafter. The fee will be applied monthly if there is a positive balance on the user’s account. If the user makes an investment, whether on the Primary or Secondary market, the account status will be switched to active again and no further fee applies.
I’m probably not the only one trying to gradually withdraw my money, as the majority of my investment has now defaulted.
To be fair, I should mention that I have already withdrawn half of the money I had previously invested. Apparently, I’ve now reached a year without investment, as €10 has also been deducted from my account. Not great. I had tried to activate an automated investment strategy that kicks in once the account balance reaches €500, so I could at least “rescue” some of my money from time to time, but apparently, that didn’t work. This is certainly one way to force your customers into something.
For me, this means I’ll have to reluctantly make one investment per year and then gradually withdraw my money. It will take a bit longer, but so be it. I can definitely no longer recommend Estateguru.