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Yandex Money to impose charge on inactive e-wallets

0 29 August 2014

Payments service Yandex Money is to give users who have unused e-wallets with a positive balance the status of ‘inactive client’ and withdraw $7.28 per month from their accounts, the company has announced.

The company has released a new user agreement which contains several new elements. One of them describes the ‘inactive client’ status, which will be applied to e-wallet users who do not use them to carry out any transactions for two years.

Another new feature of the user agreement is that inactive clients will then be charged a fee for their use of the e-wallet. This will not be charged to users whose balance is zero. Users will however be able to suspend their status as inactive clients for 3 months.

Yandex Money press service:

“’Dead souls’ are a problem for any business, and companies do their best to minimise their number of inactive accounts, such as by charging a fee for their services from the very beginning, or by charging one retrospectively for inactivity. We have legal, technical and financial responsibility for these wallets.”

The company underlined that they are making sure that users have time to avoid the charges by informing them a month in advance that in 30 days they will have the fee applied to their account.

“In order to avoid the charge all you have to do is notify us by e-mail or phone, or to return your e-wallet to ‘active’ by paying for one of tens of thousands of services”

According to the company’s calculations, the new rules will only effect a few percent of all Yandex Money users. introduced a similar system from September of last year, and Qiwi also has one in place, charging $0.27 per day. 


Top image via Shutterstock

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