It looks like they are hoping to bring the instant bank transfer option currently available to the UK only to more countries soon.
Yep, 0.7% is pretty insane but reminder that 212 have not plucked this number out of thin air nor have they decided that this is how much they want to profit off your deposits - this is the amount required to cover the cost charged to them when you deposit by the payment processing companies.
As someone UK based who still has access to instant and free deposits, of course I can’t fully sympathise with your situation but do remember that 212 don’t want to introduce things (like deposit fees) that annoy customers, they do it because they have to to keep the business sustainable. You really think they just hold a meeting one day and decide the best thing for the business is to try and inconvenience customers as much as possible?