Introducing the Account Tiers, Points and Privileges of the SafePal Banking Services

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This section provides an introduction to the details of SafePal Bank card tiers, points and privileges.

 

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SafePal Banking Gateway account holders have the opportunity to earn points by completing a range of tasks, enabling them to access additional benefits and privileges such as referral commissions and improved top-up fee rates. Upon reaching specific point criteria, account holders will automatically unlock corresponding privileges and advance through different tiers of account status.

 

At the beginning of each month, account tiers will be evaluated based on the total points earned in the preceding three months. Following the monthly assessment on the 1st, any points accumulated more than two months prior will be reset to zero.

 

For instance, on April 1st, the points earned from January to March will be tallied. If the total points amount to 3000, your account tier for April will be upgraded to Silver. Subsequently, after the April 1st evaluation, points from January will reset to zero, while those from February and March will be retained.

 

Below are various methods to increase points for account tiers, along with their corresponding calculation mechanisms.

 

1) Account Registration

Users who successfully register a SafePal Fiat24 Bank account will get the initial 1500 points in the Bank account.

 

2) Account Top Up

The top-up fee discount is implemented through a rebate mechanism. For example, Silver tier users will still pay the standard 1% rate when depositing, and will get the 0.1% rebate once the top-up is complete. The fee rebates will be sent to the 'Total Rewards' pool for corresponding user accounts and can be withdrawn.

 

3) Referral Commissions

After referring others to use the bank service, referrers will earn referral commissions from the top-up fees of referred users indefinitely. The percentage earned on referral commissions will depend on the account tiers of the referrers, as shown in the account tier introduction in the earlier section of this article.The commission will also be sent to the 'Total Rewards' pool for corresponding accounts and can be withdrawn as well.

 

Here are the terms and conditions to qualify for a successful referral:

1. Referred users need to enter the invitation code within 7 days of the account being opened 

2. Referred users must top up their account balance with a minimum accumulated amount of 100 USDC within 30 days of opening the account

 

 

4) Stake $SFP

While $SFP can already be used to purchase SafePal products at a discount, be swapped for gas across chains, used to boost yield for staking in the SafePal earn section, and participate in exclusive giftbox events — the launch of the banking gateway and Visa card brings even more utility to the table than before.

 

By staking $SFP, account holders are able to boost the points on a 1:1 ratio. The lock-in period is 90 days without any early redemptions. After a successful stake, account holders can stake additional $SFP, and the lock-in period will be refreshed based on the latest staking date.

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