Previously we had announced pricing changes for our new contests and eliminated the 10% withdrawal fees for those contests. The 10% fee still applied to bonus payment and split awards for past contests.
We are now pleased to announce that we will be eliminating the 10% withdrawal fees across the platform. This also applies to any pending contests which were launched prior to the new pricing changes. Specifically the following changes are included in this update:
- Any bonus payments from CH will no longer be subject to 10% withdrawal fees
- Any split contest awards will not be subject to 10% withdrawal fees
- Any pending contests (even if they were launched prior to pricing changes) will not be subject to 10% withdrawal fees
- If you currently have a pending balance in your account, which is subject to 10% withdrawal fee, that balance will continue to be subject to the 10% fees.
We currently show two different balances on your Account. We will be merging those two balances. If you currently have an outstanding balance which is subject to the 10% withdrawal fee, it will now be merged with the other balance after applying the 10% withdrawal fee. For example, if you have $100 in your account balance which is subject to 10% withdrawal fee and you have $500 in your account balance which is not subject to the withdrawal fee, you will now see a single balance of $590 in your account.
These changes will be effective later today or tomorrow.