Refund Policy

1. General principle

A refund is possible if the operation has not been executed and the funds can be returned technically, legally and operationally.

Every refund is considered individually, because the conditions depend on the payment method, currency, country, network, bank, partner, the status of the AML / KYC / KYT check and the stage of the order.

2. When a refund is possible

A refund may be possible if:

• the client paid for the order, but the rate expired before the operation was confirmed
• the client sent the wrong amount
• the order was cancelled before execution began
• the route became unavailable after payment
• the operation was stopped following a check
• the client and the manager agreed to cancel
• a technical error occurred
• the payout is impossible to the details provided

3. When a refund may be impossible

A refund may be impossible if:

• the operation has already been executed
• the funds have already been sent to the details provided by the client
• the client gave a wrong wallet address or network
• the payment was irrevocably processed by a bank, payment system or blockchain
• the funds are blocked by a bank, provider, partner or another participant in the settlement
• the operation carries a high AML / KYT risk and the refund is restricted by security procedures

4. Fees and costs

When a refund is made, the actual costs may be withheld from the amount if they have already been incurred:

• blockchain network fees
• bank fees
• payment provider fees
• partner costs
• the cost of cancellation or a reverse transfer
• the rate difference, if the refund is made in another currency or later in time

We tell the client in advance if a refund is possible only with costs withheld.

5. Refunding crypto

A crypto refund is made only to an agreed address and on an agreed network. Before the refund, the client must check the network, the wallet address, the memo/tag (if required) and whether their wallet or exchange can receive the asset.

If the client gives a wrong network or address, the funds may be lost without any possibility of recovery.

6. Refunding fiat funds

A fiat refund is made to agreed details. In some cases a refund is possible only to the sender of the original payment.

If a payment was sent by a third party, the service may ask for additional data or refuse to refund to details other than the sender’s.

7. Refunds during an AML / KYC / KYT check

If an operation was stopped following a check, Welcome Xchange may ask for additional information before deciding on a refund.

In some cases a refund may be delayed, limited or impossible until the check is complete. We do not disclose internal details of the risk analysis if that could compromise the security of the procedures.

8. Refund times

The refund time depends on the payment method and on external participants in the settlement.

A crypto refund can be made once the address is agreed and the check is passed. A bank or payment refund may take longer because of the rules of the bank, payment system, country or partner.

9. How to request a refund

To request a refund, contact the manager and provide:

• the order number
• the reason for the refund
• proof of payment
• the details for the refund
• additional data, if the manager asks for it

We will review the request and tell you the available options.

10. The main principle

We do not hold funds without a reason and we do not make refunds artificially hard. But a refund always depends on the stage of the operation, the source of funds, the rules of payment systems, AML / KYT risks and actual costs.