Remitano now offers a 50% refund in transaction fees for buyers who experience slow transactions.
Delays in transactions often have a direct impact on a trader’s ability to make a profit or prevent losses, largely due to the high volatility of the crypto market.
To mitigate this common issue, Remitano is working continuously to improve the speed of transactions. So apart from being a very secure exchange, Remitano is also one of the fastest crypto exchange platforms. Trades are completed very quickly and safely.
On the 10th of February, 2020 onwards, traders are able to receive a 50% transaction fee refund for trades that undergo a “delayed completion.”
Read more: Remitano commits to refund 50% of the fee on transactions that aren’t completed within 15 minutes
When is a trade considered as “delayed completion”?
A trade is considered as “delayed completion” on Remitano if it takes more than 15 minutes to complete, starting from the moment the buyer completes payment to the seller – “Pay seller” (Step 3) until the coin is received on the system – “Receive BTC” (Step 4).
The illustration of when a trade is completed
Take the scenario below as an instance:
- John wants to buy BTC from Mark
- John makes payment to Mark’s bank account and clicks on “I Have Paid Seller”.
- John waits to get his BTC in his wallet.
- If John doesn’t get his BTC in 15 minutes, starting from the exact moment he clicked on the “I Have Paid Seller” button, that trade will be marked as “delayed transaction”
- After approval, Remitano will refund 50% of the transaction fee to John.
The 50% refund process for buyers on Remitano
As a buyer, if you encounter delayed completion, you can claim your refund by following these 3 simple steps:
- Step 1: After completing the trade, please send your trade ref number to the Remitano Support team via the live chatbox (on the bottom right corner of the Remitano app or website).
- Step 2: The Support team will check and verify if the case is eligible for a fee refund. This process usually takes about 5 minutes.
- Step 3: If your eligibility for a refund is confirmed, Remitano will promptly refund 50% of your transaction fee. Kindly check your Remitano wallet to make sure the system has successfully completed the refund.
- The buyer transferred the money through a different bank and the seller’s account was not credited promptly within 5 minutes after the transfer.
- The buyer did not fill in the correct amount to pay, the transfer amount was not exactly as instructed.
- The buyer manually reopens the transaction which has been automatically canceled.
- The buyer specifically asks the seller to delay the release of the transaction to avoid the fee.
To maintain a fair system, Remitano has the complete right to refuse a refund request regarded as a fraud or deliberately delaying the trade time.
With a strong and unmatched commitment to the cryptocurrency market, Remitano is committed to continuously provide a reputable, reliable, fast, and secure cryptocurrency trading