Fee Schedule
Effective February 12, 2025
We believe everyone deserves a chance to build wealth. At Whale, we're transforming an overlooked opportunity—security deposits—into a pathway for investing. We've created a security deposit solution that makes paying, holding, and returning security deposits 100% free for landlords and renters.
However, like banks, some small fees apply for certain account actions. These fees help us cover operational costs, enabling us to offer an interest rate that's 7x the national average and return your deposit instantly after move-out.
You can view our full fee schedule below.
Fee Schedule
| TRANSFERS |
| Incoming ACH |
$0 per transaction |
| Outgoing ACH - To Landlord (Transferring move-out charge to landlord's bank) |
$0 per transaction |
| Outgoing ACH - To Renter (Renter withdrawing money from their Whale account) |
2% of transaction amount (up to $25/year OR total interest earned, whichever is lower)
Example #1
Transfer $1,000
Total Interest Earned = $30
Fee = $20 (2% of $1,000)
Example #2
Transfer $1,000
Total Interest Earned = $10
Fee = $20 $10 (Fees will never exceed total interest earned)
Example #3
Transfer $2,000
Total Interest Earned = $50
Fee = $40 $25 (Fees will never exceed $25/year)
|
| ACH Return Fee (Rejected ACH Transfer) |
$25 per returned transaction |
| Wire Transfer (Domestic) |
Not currently available. |
| Wire Transfer (International) |
Not currently available. |
| ACCOUNT MAINTENANCE |
| Minimum Balance Fee |
$2.99 per month
You can avoid the minimum balance fee when you meet at least ONE of the following requirements during each statement cycle:
(1) Have at least one "locked" security deposit in your account.
(2) Have an account balance of $250 or more at the end of the month.
|
| Statement copies |
No fee
You can view and print your available statements in the Documents tab.
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