Refund Policy

Refund Policy

Updated March 28, 2024 (ver.1.8)

The purchase and sale transactions involving virtual currency are irreversible.

GetCoins strives to ensure that customer’s rights are protected and follows all related legislation and regulatory requirements for the states in which it operates. In those cases where a transaction takes place in a state where there is no right to cancel contracts or purchase agreements, or no applicable regulation exists, and, whether a customer can receive a refund is dependent on the GetCoins' refund policy, GetCoins provides refunds in, without limitation, the following instances:

1.    When a customer has been scammed, and the virtual currency purchased has not been delivered to the scammer.

2.    When a customer has

(a) cancelled a transaction before it has been completed; or

(b) had their digital wallet blacklisted; and, the virtual currency purchased has not been delivered.

3.    When a customer is unwilling or unable to provide required identity information, source of funds information or identity verification, sufficient to allow completion of the transaction (i.e. an “Uncooperative” Customer).

4. When (and subject to “Fees” and “Other Fees/Charges”, as described below), after thirty (30) days from the date of the transaction, a customer has not provided required identity information, source of funds information or identity verification, sufficient to allow completion of the transaction.

IMPORTANT

ALL REFUNDS FOR TRANSACTIONS ARE SUBJECT TO (a) AN ADMINISTRATIVE OR OTHER FEE(S)/CHARGE(S), AND, (b) THE GETCOINS CONVERSION SERVICE PROVISIONS (AS DESCRIBED IN THE GETCOINS TERMS OF SERVICE) AND ARE MADE IN BITCOIN AND DELIVERED TO A WALLET ADDRESS THE CUSTOMER PROVIDES, AND WHICH IS DEEMED ACCEPTABLE BY GETCOINS. ADDITIONALLY, IF A CUSTOMER FAILS OR REFUSES TO PROVIDE INFORMATION REQUIRED BY LAW OR REGULATION, OR REQUIRED BY GETCOINS TO ESTABLISH WHO THE CUSTOMER IS OR WHAT THE CUSTOMER’S SOURCE OF FUNDS ARE, THE CUSTOMER WILL NOT BE ALLOWED TO COMPLETE THE TRANSACTION – EVEN IF THE CUSTOMER HAS ALREADY PROVIDED PAYMENT. INSTEAD, THE CUSTOMER WILL BE DEEMED to be an “UNCOOPERATIVE customer” (i.e. the Customers fails or refuses to provide required information and/or documents) AND THE TRANSACTION WILL BE SUSPENDED UNTIL THE CUSTOMER PROVIDES THE REQUIRED INFORMATION OR DOCUMENTATION. ALL SUCH SUSPENDED TRANSACTIONS INVOLVING UNCOOPERATIVE CUSTOMERS WILL BE SUBJECT TO “FEES” AND “OTHER FEES /CHARGES” AS DESCRIBED IN MORE DETAIL, BELOW. BECAUSE A NEW YORK RESIDENT IS ADVISED THAT THEY CANNOT DO TRANSACTIONS WITH GetCoins, IF THEY NONETHELESS PROCEED WITH A TRANSACTION, THEY WILL BE TREATED AS A "UNCOOPERATIVE CUSTOMER".

In cases where there is not enough information (i.e. a wallet address) to provide a refund, it is the customer’s obligation to contact GetCoins and provide a wallet address. (See “Other Fees/Charges”, below)

Procedure – Customer Action Required

GetCoins may ask the Customer to provide the following prior to issuing a refund:

1. A refund Acknowledgement, Waiver and Hold Harmless Agreement must be hand-signed;

2. The wallet address must be handwritten by the customer; and

3. The Customer must provide a “selfie” with (1) the Customer’s face and (2) Customer’s government-issued photo ID.

Fees:

All refunds will

1.    Have a twenty percent (20%) Administrative Fees deducted prior to delivery of the refund in Bitcoin. No exceptions. The Administrative Fee is comprised of a System Fee + a Compliance and Processing Fee and is in no event less than twenty percent (20%) of the transaction amount.

All refunds for “Uncooperative” Customers will be done after 48 hours. “Uncooperative” Customers are:

A.   Customers that fail or refuse to provide requested KYC information and/or documents are deemed to be “Uncooperative”.

and/or

B.   Customers from jurisdictions where we have no operations (i.e., e.g. New York Residents) will be deemed to be “Uncooperative”.

Other Fees/Charges:

For those Customers that do not provide required identity information or verification, sufficient to allow completion of the transaction, and, GetCoins is unable to provide a refund because we do not have the right information, or any information, or a lack of sufficient information to mail a check or ACH (where a refund in virtual currency is not possible or appropriate), there is a monthly charge of the greater of 10% or $75 per month until there is a $0 balance or the customer provides the needed information to receive a check in the mail or by ACH.

Wallet Address Provided by Customer: Depending on the circumstances the Customer may be asked to obtain and provide a different wallet address from the one used to conduct the transaction. It is the customer’s obligation to provide GetCoins with an acceptable wallet address.

Time it takes to get a refund: The purchase and sale of virtual currency is unique and there are a variety of matters to consider. Accordingly, GetCoins will strive to provide refunds (if warranted and sufficient information exists) as soon as possible, consistent with this Policy.

All refunds will be done in Bitcoin, within 45 days, to the extent possible, except for cases involving Customers that have not provided sufficient information to complete a refund.