When a leader switches from being free to premium, followers must explicitly agree to continue following the leader before any charges are made to the follower.
Leaders are allowed to switch between being a free and premium leader at any time. That means even if a leader started out as being free, they can switch their group to a premium group at any time.
In these situations, it is understandable that some followers would no longer be interested in following the leader. Shrimpy ensures that each individual follower will not be charged until they specifically agree to continue following the leader. The way that followers agree to the change is by logging into the application. Once they log in, they will see the following popup that documents the increase in leader fees.
On this popup, followers will have the option to either select "Follow" or "Unfollow". If the "Follow" option is selected, the follower will begin being charged based on the new premium fees. However, if the "unfollow" option is selected, the follower will not be charged for following this leader and the portfolio that was following this leader will stop following.
To help all followers decide as quickly as possible, Shrimpy will send an email to all existing followers asking them to log into their Shrimpy account to either accept or decline the changes.
Each follower has 7 days to accept or decline these changes. Any person that declines the changes will stop following the leader. Anyone who accepts the changes will begin paying the leader based on the new fee structure. Anyone who fails to respond within 7 days will stop following the leader and won't be charged.
You will not be charged anything unless you accept the changes.
Have questions, comments or concerns? Feel free to reach out to us via the blue "Support" button found in the bottom left corner of your Dashboard, or send an email to Support@Shrimpy.io.