Your fee for Treasury investments is calculated daily and charged monthly. This means that your fee will be based on the amount invested each day, with the accumulated total charged in a lump sum each month.

The fee tiers are based on your total deposits at Mercury across all of your accounts (including Treasury). The higher your total deposits are on Mercury, the lower your fee is.

**Here is a breakdown of the tiers:**

More than $20m total deposits = 0.15% (15 bps) fee

$10m-$20m total deposits = 0.25% (25 bps) fee

$5m-$10m total deposits = 0.35% (35 bps) fee

$2m-$5m total deposits = 0.45% (45 bps) fee

$0-$2m total deposits = 0.60% (60 bps) fee

Your fee itself is charged only on your investments in Treasury. **Please note these rates are hypothetical and subject to change.**

### How to calculate fees

For every day of the month, we gather your positions and overall Mercury deposits. Then we compute fees daily as follows:

**Positions * fee [in bps] / (10,000 [conversion from bps]*365 [annualizes])= Fee for the day**

For example, a customer that has an investment position with a value of $1.5 million and a total of $2.5 million in deposits in Mercury would have a fee of 45 bps (.45%) according to their tier. Therefore, their calculation would look like this:

**1,500,000 * 45 / (10,000 * 365) = $18.49 (rounding down to the nearest cent).**