Broker Tinkoff erroneously charged clients a commission 10 times higher than stated

Users of Tinkoff Investments complained that when purchasing blocked FinEx funds, the broker charged them a commission of not 1.5% of the transaction, as indicated in the tariff, but 15%. The broker’s press service reported “RBC Investments”that the write-off was erroneous, but investors have already been returned the amounts that were excessively withheld.

Under the terms of the “Investor” tariff from Tinkoff, the purchase or sale on the over-the-counter market of shares, mutual fund units, ETF units or shares, depositary receipts blocked due to sanctions in the account of the National Settlement Depository in Euroclear will cost the client 1.5% from the transaction amount. However, this week, users of a number of Telegram channels dedicated to investments reported that they were charged a commission of 15%.

A representative of Tinkoff Investments confirmed to RBC Investments that commissions had been erroneously written off. “This affected several dozen clients (less than a hundred). Everyone has already received back the excess withheld,” he noted.

The Tinkoff Investments broker launched trading on the over-the-counter market in blocked FinEx funds in early September. The first units of the FXBC Blockchain Ecosystem fund became available for purchase and sale. Currently, on the over-the-counter market, Tinkoff Investments users can trade 16 of the 22 blocked FinEx funds.