As you may know, digital asset transactions are irrevocable. Once Bitcoin or another coin (ETH, BNB, LNK) is sent, it cannot be refunded or recovered. It is important that you confirm your wallet address multiple times, and never send digital assets to another person’s wallet.
If however, you have tried to create an order and have been charged (the balance appears to have been deducted from your bank account/card) but for some reason, the order is not VALIDATED (and therefore no coins have been sent), you are entitled to a refund. We will begin processing refunds on all CANCELLED orders, you don’t need to contact us.
Refunds of cash payments is a manual process and our team will send the refund as soon as possible. It generally takes us between 1 to 5 business days to process the refund of a cash payment.
Once we process the refund, the time it takes for the fund to arrive in your account depends on the payment method and your provider (e.g. your bank or financial institution); these processing times are not controlled by Banxa.
Please note that if you make a purchase with a Credit card/Debit card, the transaction will be put through as a pre-authorisation only, to hold the order. Only when the order is fulfilled then the actual payment amount will be taken. If there is any cancellation of the order, we will release the pre-authorisation amount, however, the time for the fund to return to you will depend on your bank. Usually, it takes up to 15 business days but in some cases, it has been known to take up to 28 days.
Please note that by law, we cannot process refunds to different accounts or cards, only the ones that made the original payment.