In an effort to continuously create a reliable trading environment for users to conduct their businesses, popular crypto exchange Remitano will be offering a 50% refund on fees for all slow transactions.
Transaction speed is a critical factor when conducting transfer in the crypto space, as this is often the determining factor of making a profit or loss. The slowe the transaction, the bigger the slippage may be on a user’s trade.
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Remitano is well-known for its high security but now can also boast an additional incentive that may likely increase the platform’s transaction speeds. Trades will be completed swiftly and safely.
To incentivise users and guarantee fast transactions, Remitano will refund 50% of a transaction fee to the buyer if the transaction experiences a “delayed completion.”
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
Assuming you are the buyer and the transaction takes more than 15 minutes after you have completed the payment (from the moment you press the “paid” button to the time you receive the asset in your Remitano wallet), the trade will be counted as “delayed completion”.
Once this happens, the buyer will get a refund of half (50%) the amount he was charged from the transaction fee.
Refund process for buyers on Remitano
If you encounter a delayed completion on Remitano, you can claim your refund by following 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 will check to verify the completed trade time to determine whether or not your case is eligible for a fee refund. This process usually takes about 5 minutes only.
Step 3: If your eligibility for a refund is confirmed, Remitano will immediately refund 50% of your transaction fee. You can then check your Remitano wallet to make sure the system has successfully completed the refund.
- The buyer transferred the money through a different bank (and without selecting the Instant Transfer option), which results in the seller’s account not receiving the funds promptly (within 5 minutes after the transfer).
- The buyer did not fill in the exact amount to pay and the transfer content 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 reserves the right to refuse a refund request regarded as fraud or a deliberate attempt at delaying the trade time.
Users can now sit back, relax and experience the safest and fastest transactions with Remitano.
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