This Refund Policy is deemed a binding agreement between the Client and BitExChain.
BitExChain is a trade name of CoinFarm OÜ, a company incorporated and acting under the laws of Estonia, with registered number 14767047 and its legal address at Rännaku pst 12 Nõmme linnaosa, Harju maakond 10917, Tallinn, Estonia.
By using or otherwise accessing the Services or clicking to accept or agree to Refund Policy where that option is made available, client agrees for eligibility for use of the Services and that client has read, understood, and accepted the refund policy.
BitExChain is a trading name of an Estonian company CoinFarm OÜ, with registered number: 14767047, and address: Rännaku pst 12 Nõmme linnaosa, Harju maakond 10917, Tallinn, Estonia.
Refund - Return of the monetary funds transferred to BitExChain the client.
Client - Registered veriﬁed account holder on BitExChain.com
Chargeback - Monetary fund returned to the Client by the issuing bank, and not by the Platform.
Platform - Internet site operating exchange of FIAT to virtual currency, such as a cryptocurrency.
Transaction Charges: means any fee charged by a bank/ﬁnancial institution upon processing a valid refund request.
Virtual Financial Asset - As used herein, “Virtual Financial Asset”, also called “convertible virtual currency,” “cryptocurrency,” or “digital goods”, such as bitcoin or ether, which is based on the cryptographic protocol of a computer network that may be:
1. Centralized or decentralized,
2. Closed or open-source, and:
3. Used as a medium of exchange and/or store of value.
The User who has paid for BitExChain services, i.e. paid a transaction fee, or has funded his account, may request a Refund in accordance with the Eligibility Criteria as further set out herein.
Refund will only be considered where the User complies with the Eligibility Criteria in full. Where the User fails to meet any of the Eligibility Criteria, BitExChain shall have the right, in its sole discretion, to decline the User’s request for a Refund.
In order to apply for a Refund, the User must request and complete a Refund Form and send the respective form to the BitExChain support address [email protected].
To prevent Prohibited Conduct, all payments and information related to Refund shall be veriﬁed by BitExChain
In such case, BitExChain may request the User to provide certain documents, including, but not limited to, identiﬁcation documents, copy of the User’s Payment Card and Invoice or/and any other prove of the fact that the disputed payment was made.
In case the User fails to provide appropriate documents or information within three (3) days upon BitExChain request, or in case of any doubts as to the authenticity of the provided documents, BitExChain shall be entitled to decline the User’s Refund request.
BitExChain shall process the User’s Refund Form as soon as it is reasonably practicable. Response times will vary depending on stated reasons for the request. In any case, BitExChain shall notify the User on the outcome of the request in accordance with the timescales set out herein.
The Refund request will only be approved or declined after meticulous veriﬁcation made by BitExChain.
Note: The submission of a Refund Form does not guarantee that the User’s request will be satisﬁed.
Refunds are not possible for all transactions where the User is purchasing a Cryptocurrency. However, in case the User changed his mind and would like to return the purchased Cryptocurrency, BitExChain may be able to buy it back based on the current market rate minus the service fee for the transaction.
In other words, the User can exchange the purchased Cryptocurrency (i.e. Bitcoin) for any existing FIAT Currency (i.e. EUR) and in any Payment Method (i.e. Credit Card payment or Bank Transfer).
The reason for the above policy is due to the volatility of Cryptocurrency's prices, which signiﬁcantly differentiate the value of the purchase Cryptocurrency from the value of the cryptocurrency when executing the refund.
No Liability for Errors/Omissions. You accept and acknowledge that we are not liable or responsible for any errors or omissions that are made in connection with any Virtual Currency Transaction initiated via the Services. We strongly encourage you to review your transaction details carefully before attempting to transfer a virtual currency.
The User loses the right to a Refund if:
1. when requested by the BitExChain to do so, the User fails to provide the information or/and document(s) within the terms set herein.
ved in, fraudulent or illegal activity, including, but not limited to, market manipulation and insider trading,
Membership tier in question have been substantially consummated in the time period between the Transaction and the time of ﬁling the claim.
The BitExChain reserves the right to lock the User’s Funds while Refund investigation is in process, which means that the Funds could be inaccessible during such investigation.
BitExChain expect you to contact it using BitExChain contact details to resolve any problem, dispute or issue related to your payments, before the you make any Chargeback request.
This Section does not affect any rights and/or claims, which you may possess against any other 3rd parties including but not limited to banks or ﬁnancial institutions.
BitExChain will investigate any Chargeback requests made by the User and in response will inform the BitExChain Issuing Bank whether any Service or Transaction has been cancelled.
BitExChain reserves the right to suspend your account and hold the BitExChain funds during the chargeback's investigation procedure.
Withdraw funds from your account will require you to ﬁll, sign, scan and send to the company a duly signed withdrawal form along with all requested documents. We will not commence the withdrawal process without it.
All withdrawals will be processed within 72 hours upon their approval, and if so approved then the funds will be returned to the bank account/credit card/other source of payment from which the funds were originated, including a cryptocurrencies' wallet.
We reserve the right to decline any application for withdrawal, including, but without limitation, due to the following reasons: we suspect the transaction is fraudulent; your account is under investigation; the application to withdraw is of a bonus whose terms have not been met and/or there are not enough funds available in your account.
We also reserve our right to refuse applications for withdrawal and/or to suspend to terminate your account due to non-compliance with our AML requirements or any KYC matters.
When making a refund triggered by the initiative of the User (or due to User fault), the User will be charged a Refund Fee equal to the amount of the Commission Fee taken by the Service during the exchange operation, but not less than 5% of the total amount exchanged.
Any fees arising from the processing of the refund from the Payment Systems are paid exclusively by the User. Such charges will be deducted from the ﬁnal amount to be refunded.].
Without exception, all refunds are made in the currency deposited by the client during the exchange operation, through the same payment system that was used during the initial transfe
Any charges, which arise upon processing a Refund, shall be borne solely by the User.
Such charges will be deducted from the ﬁnal amount of the Refund.
This Refund Policy will be amended from time to time if there is any change in the legislation. Terms and conditions of the Refund Policy are subject to change by BitExChain and in the case of any amendments, BitExChain will make an appropriate announcement. The changes will apply after BitExChain has given notice.
In case you do not wish to accept the revised Refund Policy, you should not continue to use BitExChain Services. If you continue to use our Services upon the date on which the change comes into effect, your use of the Services shall be bound under the new Refund Policy.