Silo uses a three-tier account system that determines fee rates, transaction limits, and what types of payments a user can participate in. The tiers are Personal, Plus, and Business. Each tier is additive: every higher tier includes everything the previous tier can do, plus new capabilities.
The core design principle is that the sender never needs to think about tiers, fee logic, or payment types. They type a username and an amount, and Silo handles everything else. Tier logic, fee routing, and payment type enforcement all happen in the background.
Tier 1: Personal - 30 bps
Personal accounts are for everyday users making payments to friends, family, or other individuals. No identity verification is required. Users sign up with an email address only.
Personal accounts can send and receive peer-to-peer payments with other Personal and Plus users. They cannot buy from merchants (Commerce accounts) or receive payroll payments. If a Personal user tries to pay a merchant, the system prompts them to upgrade rather than showing an error.
Transaction limits are $2,000 per day and $10,000 per month. Fee rate is the highest of the three tiers. Transaction screening (KYT) is applied to all payments.
Tier 2: Plus - 25 bps
Plus accounts are for users who transact frequently and want lower fees and higher limits. KYC (identity verification) is required. Users verify with an ID and selfie through Silo’s verification partner.
Plus accounts can do everything Personal accounts can do, and they also unlock two additional capabilities: buying from merchants (sending payments to Commerce accounts) and receiving payroll (receiving payments from Payroll accounts). Plus accounts cannot become a merchant or send payroll. Those require Business tier.
Transaction limits are $50,000 per day and $250,000 per month. Fee rate is lower than Personal tier.
Tier 3: Business - 20 bps
Business accounts are for companies and operators who need to accept customer payments or send payroll. Full KYB (Know Your Business) verification is required, including business registration and beneficial ownership documentation.
Business accounts can do everything Plus accounts can do, plus two additional capabilities depending on their sub-type:
Commerce sub-type: for businesses accepting payments from customers. Online stores, marketplace sellers, service providers, and anyone invoicing clients. Only Plus and Business users can send payments to Commerce accounts. Personal users cannot.
Payroll sub-type: for businesses paying employees or contractors. Only Plus and Business users can receive payroll payments. Personal users cannot.
The sub-type (Commerce or Payroll) is selected during onboarding and locked to the account. Businesses that need both capabilities can request a review to add a second sub-account.
Transaction limits are $500,000 per day and $5,000,000 per month, with custom limits available. Fee rate is the lowest of the three tiers.
Transaction limits and fee rates are illustrative and subject to change pending legal review.
Fee Responsibility
Who pays the Silo fee depends on the payment context, not on a choice the sender has to make.
For peer-to-peer payments (Personal and Plus accounts), the receiver absorbs the fee by default. The fee is deducted from the amount received, not added on top of what the sender sends. The sender sees a transparency line beneath the amount field showing what the receiver will actually receive (e.g., “Jack will receive $99.70”). An optional “Cover fee” toggle allows the sender to top up the payment so the receiver gets the full amount. The toggle is off by default.
For commerce payments (customer paying a merchant), the merchant always absorbs the fee. The customer pays exactly the amount they type. There is no Cover fee toggle. Fee direction is locked to the merchant. This mirrors how every major payment processor works.
For payroll payments (employer paying an employee), the employer always pays the fee. The employee receives their full agreed amount with no deductions. The employer sees a confirmation screen before submission showing the salary, the Silo fee, and the total debit. This mirrors traditional payroll processing.
Swap Fees
Silo’s fee structure separates two costs: the Silo platform fee (routed by the tier logic described above) and swap fees incurred when a payment requires an asset conversion.
The rule is straightforward: if a payment requires a swap because of either party’s asset choice, the party whose choice triggered the swap bears the cost. If a sender holds ETH but the receiver wants USDC, the sender bears the ETH-to-USDC swap. If a sender sends USDC but the receiver’s preference is set to ETH, the receiver bears the USDC-to-ETH swap out of the received amount. If both sides use USDC, there is no swap and no swap fee. USDC-to-USDC is the lowest-cost path.
The Cover fee toggle covers the Silo platform fee only. It does not cover swap fees. Swap costs always follow the “your choice, your cost” rule regardless of whether the sender enables Cover fee.
Tier Gating
Tier restrictions are enforced at the routing layer, not the user interface. A Personal user cannot send to a Business account even if they know the username. The system checks the sender’s tier against the receiver’s account type before the payment is processed. If the interaction is not permitted, the user sees a prompt to upgrade, not a technical error.
This creates a natural upgrade path. Users who want to buy from merchants or receive payroll upgrade to Plus. Users who want to accept payments as a merchant or run payroll upgrade to Business. Each step requires more verification and unlocks more capability. .png?fit=max&auto=format&n=d0ciqotHpLYc4JWp&q=85&s=ae327a59c8f11fff090589cb712d6323)
