Inan effort to continuously create a reliable trading environment for users toconduct their businesses, popular crypto exchange Remitano will be offering a50% refund on fees for all slow transactions.
Transactionspeed is a critical factor when conducting transfer in the crypto space, asthis is often the determining factor of making a profit or loss. The slowe thetransaction, the bigger the slippage may be on a user’s trade.
Remitanois well-known for its high security but now can also boast an additionalincentive that may likely increase the platform’s transaction speeds. Tradeswill be completed swiftly and safely.
Toincentivise users and guarantee fast transactions, Remitano will refund 50% ofa transaction fee to the buyer if the transaction experiences a “delayedcompletion.”
Readmore: Remitano commits to refund 50% of the fee ontransactions that aren’t completed within 15 minutes
What is “delayed completion”?
A trade is considered a “delayed completion” if it takes more than 15 minutes to complete, beginning from the time 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
Assumingyou are the buyer and the transaction takes more than 15 minutes after you havecompleted the payment (from the moment you press the “paid” button tothe time you receive the asset in your Remitano wallet), the trade will becounted as “delayed completion”.
Oncethis happens, the buyer will get a refund of half (50%) the amount he wascharged from the transaction fee.
Refund process for buyers on Remitano
Ifyou encounter a delayed completion on Remitano, you can claim your refund byfollowing these 3 simple steps:
Step 1: After completing the trade, please send your “trade ref” to the Remitano Support team via the live chatbox on the website: remitano.com.
Step 2: The support team willcheck to verify the completed trade time to determine whether or not your caseis eligible for a fee refund. This process usually takes about 5 minutes only.
Step 3: If your eligibilityfor a refund is confirmed, Remitano will immediately refund 50% of yourtransaction fee. You can then check your Remitanowallet to make sure thesystem has successfully completed the refund.
Non-refundable cases:
- Thebuyer transferred the money through a different bank (and withoutselecting the Instant Transfer option), which results in the seller’s accountnot receiving the funds promptly (within 5 minutes after the transfer).
- Thebuyer did not fill in the exact amount to pay and the transfer content wasnot exactly as instructed.
- Thebuyer manually reopens the transaction which has been automaticallycanceled.
- The buyer specifically asks the seller to delay therelease of the transaction to avoid the fee.
Tomaintain a fair system, Remitano reserves the right to refuse a refund requestregarded as fraud or a deliberate attempt at delaying the trade time.
Userscan now sit back, relax and experience the safest and fastest transactions withRemitano.
Whatare you waiting for? Visit the P2P trading platform and Wholesale toexperience “lightning-fast” trading with Remitano right now!
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