With the Unlock Fixed Terms Opt-in Nexo gives you another option to secure your open credit line. Should your Loan-to-Value (LTV) reach 83.3% and the assets in your Flex terms have already been transferred out of the Savings wallet, the system will go on to unlock your Fixed-term/s and transfer the original amount of locked assets to the Credit Line wallet thus preventing automatic repayments.
Please follow the steps below to activate the option:
Web platform:
1. Log on to your Nexo account and click on ‘My Profile’ > ‘Settings’
2. Click ‘Enable’ under ‘Unlock Fixed Terms’
Mobile application:
1. Open the app and tap on ‘More’ > ‘Settings
2. Tap on the toggle button next to ‘Unlock Fixed terms’
Key points:
- All the assets in each Fixed Term deposit will be unlocked at once should the system need to collateralize part or all of the funds locked in this account.
- Fixed terms will be unlocked only if ‘Unlock Fixed Terms’ is opted in and all Flex terms have already been transferred.
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If you have multiple Fixed terms of various sizes, the prioritization is aimed at reducing the loss of interest in your account.
- If the assets in a Fixed-term are not enough to stabilize your Loan-to-Value (LTV), the system will go on to unlock more assets if available.
- Fixed terms in FiatX currencies are not affected by this option since FiatX assets do not serve as collateral.
Important:
Nexo Earn Product is not available for citizens or residents of certain jurisdictions, including where restrictions may apply, such as Bulgaria, Estonia and the USA