The amount is spread evenly across the year and settled on a monthly basis. This way you never pay a large sum all at once, but always a small portion at a time. Every day a snapshot is taken of the vault value to calculate an average. The euro balance is not included in this calculation. Costs are settled monthly according to the formula: (average vault value – euro balance) × 0.01 × (number of days in the month ÷ 365). In a leap year, 366 days are used. In addition, a fixed fee of €1 per month is charged.
How and when is the 1% calculated?
