All user Mi accounts are 100% FREE to sign up for! The only fees that are charged (when you do not have a VIP User account or Merchant account) is for when doing a P2P transfer, and these fees are approximately $0.25 cents per transfer. VIP and Merchant accounts are free to sign up, but have a monthly 'flat' fee. For VIP user account, for $3.95 you get up to 15 P2P transfers and up to 50% higher cashback rewards from your purchases than the regular user account. If you take advantage of the refer 5 program and refer 5 other VIP account holders, then as long as they are active, your monthly fee is waived! For Merchant accounts, there is a $49.99 + tax monthly fee to cover maintenance, administration, and advertising listing of your merchant account. During pre-registration phase, the $499.00 setup fee is waived. Also, if you take advantage of the refer 5 program and refer 5 other Merchant account holders, then as long as they are active, your monthly fee is waived as well, just like the VIP account!