Annual Subscription Fee
Liquid P2P charges a user subscription fee calculated at an annual rate of 0.25% of the value of your Liquid Notes. This includes only the portion of your principal invested on your behalf by Liquid P2P. It excludes pending amounts, available cash, loans in default, or any notes invested in outside of Liquid P2P.
Subscription fee calculation: Daily Charge = (0.25% x Liquid Portfolio Value) / 365
Liquid P2P will apply the following fees, adjustments, and discounts depending on the automated liquidation method user selects. These costs are separate from any fees charged by Lending Club and Folio Investing.
Liquid Match Fee - 1% on any note sold through a standard Liquid Match transaction. Billed on your monthly statement when applicable.
Liquid Match +Plus Fee - 2% on any note sold through the Liquid Reserve Pool. Billed on your monthly statement when applicable.
Fair Price Adjustment - When notes are traded between users, we calculate a fair price to ensure both sides of the transaction get the same yield to maturity. If interest rates have gone up, this adjusment (which usually amounts to a few cents) contributes to the overall cost of liquidation.
Reserve Discount - As an incentive for users to contribute funds to the Liquid Reserve Pool, we discount any notes liquidated through the reserve by 1.5%. When applicable, this discount contributes to the overall cost of liquidation.
Subscription and liquidation fees are billed monthly to the credit/debit card on file with Liquid P2P. When applicable, liquidation fees will be included on your monthly billing statement as a separate line item(s).
Some notes invested in during the current billing period are not issued until the next billing period; however, you will be charged fees for any note invested in during the current billing period regardless of when the note is officially issued.
If you accrue a non-zero amount subscription fee for a billing period that is less than $5.00, a minimum of $5.00 will be billed.
If your account is canceled or terminated, you are responsible for any fees accumulated since the end of the most recent billing cycle.
When describing the true "costs" associated specific automated options we offer users, we do our best to explain all applicable fees, including both Liquid P2P fees and outside fees.
As a reminder, the following outside fees may be associated with use of our service but are not determined, billed, or collected by Liquid P2P.
For users who create a trial account, Liquid P2P will waive the subscription fee as well as the minimum account charge for the applicable 90-day promotional period and give you full access to our automated investing features.
Just like with a paid account, you can pause investing or change your automated settings at any time. We want you to use the trial to get a feel for our platform and how it works for you.
Trial accounts will have limited access to our liquidation features. To withdraw funds using one of our automated liquidation options, trial account users will be required to provide credit card information for the purpose of billing applicable liquidation fees only. Trial account users with active withdrawals will be responsible for any liquidation fees that are accrued during the 90-day trial period.
We will email you as your trial expiration approaches with options for switching to a paid account, at which time you'll be asked to provide your credit card information or review/update what you already have on file. Unless you elect to continue with a paid account, we will automatically deactivate your account when the promotional period expires.
You can reactive an expired trial account at any time. Simply log in with your trial account credentials to access steps for continuing with a paid account.