How to start using Cash Management?
You’ll need to order and activate your debit card with Change to begin using Cash Management.
Already have a card? Tap “Try Today” in the Card tab, agree to our T&C, and you’re good to go!
How do I get started?
- Tap the Transfer button in the Card tab or on the Interest screen
- Select Investment or Card balance from where you’d like to move your money to start using Cash Management
- Choose the amount and tap transfer
- Money will be converted and cryptocurrency deposit made almost instantly
Can I use my card without Cash Management?
Absolutely. You have two separate options: Card and Interest. You can opt-in or out of Cash Management at any time.
Can I opt-in or out of Cash Management at any time?
Yes, at any time and without penalty. You will get all of your accrued interest for the time you were using Cash Management.
If I stop using Cash Management before the end of the month, will I still get my accrued interest?
Yes, you will get all of your accrued interest for the time you were using the service.
When do I receive my interest?
The interest is rewarded by the first day of the calendar month at 12:00 EET by the latest.
What does accruing interest mean?
It’s the amount of interest that you have accumulated to date and what will be rewarded on the next interest payday.
How is the interest calculated?
Every hour we calculate what your outstanding balance was one hour back and subtract the withdrawals you have made to the Investment or Card balance within the past hour. This amount is then added to your accrued interest.
What does 7% APY mean?
APY stands for Annual Percentage Yield. It refers to how much interest you would earn in a 360-days standardised year. The current percentage is up to 7.00%. When you put in € 1000 at the beginning of July 2021 and keep it there until the end of June 2022 you will have € 1070.
How does it work behind the scene?
When using Cash Management, your euros are instantly converted into stable coins, e.g. USDC, and transferred to the joint Crypto Interest Account, and vice versa should you wish to withdraw in part or in whole. For your convenience, the values are shown in EUR.
How is Interest calculated and rewarded?
Interest is calculated on an hourly basis on the current outstanding balance of the supported cryptocurrencies held on your Account and rewarded by the first day of the calendar month at 12:00 EET in the same supported cryptocurrency and consecutively converted into specified Fiat currency.
Are the funds guaranteed by the state?
By being a cryptoasset service, Cash Management is not related to bank deposits and thus does not entail relevant rights and guarantees. Regardless, Change has taken appropriate safeguards to ensure the security of your assets.