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47 sats \ 12 replies \ @BlokchainB 13 Aug \ on: Swan Platform Fee AskSN
Hahahahah yup it’s true WTF swan! This is absolutely ridiculous
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Hahahaha
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This must be for the Vault (multisig) product, which Unchained charges $250/yr for. Their original service is still free if you auto-withdraw, which is the only reason many went with Swan to begin with. They're bitcoin only and they encourage self-custody. Where did you clip that from?
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App start up
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Just updated iOS version and didn't see it. I'll definitely close my account if they start charging people without their knowledge.
I don't think Swan's a bad company. They've just made some bad decisions choosing partners, afaik.
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They seem disorganized. Strategically what is their unique selling proposition?
Maybe I should ditch them for River and Strike?
I have never had a problem with River.
Occasionally I send messages to support at strike because of an exchange rate discrepancy. Once they double charged me for a single deposit. That took 10 days to resolve. Fortunately no major issues since
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Very disorganized. They lost a lot of customers by fooling around.
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apparently they sent an email with the new fee structure but I don't remember receiving this email in June or whenever
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This is Swan Private access
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Yeah but to avoid the fee you need to be a swan vault customer and turn on auto withdrawals or be swan private and open an IRA or have 1 BTC with them
I think they are desperate to raise revenues to command a higher valuation. They were trying to IPO right around the time they sued tether. Plus I got a feeling they are trying to compete with Unchained who clearly targets a higher net worth customer
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They can’t compete with Unchained because it’s a completely different business imo
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ChatGPT…
Yes — Swan’s own announcement says you can opt out of Swan Private entirely.
If you do nothing and stay in Swan Private after July 1, 2025, you will be charged $25/month, unless you meet one of the fee-waiver conditions (Swan IRA, Swan Vault, or ≥1 BTC in Swan Safe).
If you opt out:
• You drop down to the Swan Premium tier, which has no monthly platform fee.
• You’ll lose the dedicated advisor, priority support, and concierge-style service that Swan Private offers.
• Your core account features, custody, and purchase capabilities remain intact.
It is basically a downgrade from “white-glove” to “self-service,” but avoids the $25 monthly charge.
If you want, I can give you the exact steps in your Swan dashboard to switch from Private to Premium before the fee kicks in.
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