Here are the outlines of Exchange Purse Refund policies based on types of exchange transactions performed.
Exchange Purse guarantees to any of its User his/her right for refund if such User is not satisfied with the quality of the provided Services.
Furthermore, Exchange Purse declares that its User has the right to change his/her mind in case the User’s Account was already funded and to request his/her Funds to be returned.
This Refund Policy concerns exclusively Transaction fees and Users’ Funds.
Exchange Purse undertakes to make its best efforts to assist the Users in case of any disputes related to refunds of purchased crypto-currencies
Refunds and Returns in excess of the original amount are prohibited
- General Conditions
The User who has paid for the Exchange Purse Services, i.e. paid a transaction fee, or has funded his account may request a Refund or Return in accordance with the Eligibility Criteria as further set out herein.
Refund/Return 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, Exchange Purse shall have the right, in its sole discretion, to decline the User’s request for a Refund/Return.
In order to apply for a Refund/Return, the User must request and complete a Refund Form/Return Form and send the respective form to the Exchange Purse support address - email@example.com
To prevent Prohibited Conduct, all payments and information related to Refund/Return may be verified by Exchange Purse. In such case, Exchange Purse 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) working days upon the Exchange Purse request or in case of any doubts as to authenticity of the provided documents, Exchange Purse shall be entitled to decline the User’s Refund/Return request.
Exchange Purse shall process the User’s Refund Form/Return Form as soon as it is reasonably practicable. Response times will vary depending on stated reasons for the request. In any case, Exchange Purse shall notify the User on the outcome of the request in accordance with the timescales set out herein.
The Refund/Return request will only be approved or declined after meticulous verification made by Exchange Purse.
NOTE: Submission of Refund Form/Return Form does not guarantee that the User’s request will be satisfied.
- Transactions involving a Cryptocurrency (i.e. Bitcoin & others)
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, Exchange Purse would 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 for any existing Digital Currency (i.e. PayPal) or Payment Method (i.e. Credit Card payment or Bank Transfer).
The reason for such policy is the fact that the Cryptocurrency price changes constantly, thus the value of the purchased Cryptocurrency at the moment of refund will be different.
- Transactions NOT involving Cryptocurrency.
Refunds are possible during 30 days from the exchange operation. Exchange Purse will charge the User the one time refund fee of 5% of the transacted amount plus any additional service fees incurred by sending the funds to the User via original payment method.
For example if the User have purchased Digital Currency via Money Gram money transfers and would like to get a refund, he would have to send the purchased digital currency back in full amount of the refunded transaction, Exchange Purse in return would send money back via Money Gram deducting the transfer fee, as a result the User would get his original payment less 5% and less Money Gram transfer fees.
Exchange Purse expects the User to contact it using Exchangepurse.com contact details to resolve any problem or issue related to his/her payments, before the User makes any Chargeback request. This Section does not affect any rights and/or claims, which the User may have against the bank/financial institution.
Exchange Purse will investigate any Chargeback requests made by the User and in response will inform the User’s Issuing Bank whether any Service or Transaction has been cancelled.
Exchange Purse reserves the right to suspend the User's account and lock the User's Funds during the chargeback investigation procedure.
Any charges, which arise upon processing Refund/Return, shall be borne solely by the User. Such charges will be deducted from the final amount of the Refund/Return.
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 Exchange Purse and in the case of any amendments, Exchange Purse will make an appropriate announcement. The changes will apply after Exchange Purse has given a notice.
In case the User does not wish to accept the revised Refund Policy, he/she should not continue to use Exchange Purse Services. If the User continues to use the Services after the date on which the change comes into effect, his/her use of the Services is to be bound by the new Refund Policy.