MoonPay is the largest cryptocurrency payments provider and one of the top exchanges in the world to buy and sell cryptocurrency.
The startup, although new, started in 2018 and currently has a valuation of over $3 Billion. Some of the leading sites such as Bitcoin.com, use MoonPay for their transactions check-out. Across the world, MoonPay is used by more than 250 wallets and is available for users in more than 160 countries.
Although MoonPay is highly intuitive, users may come across common issues especially if their transactions fail to go through.
In these situations, users expect a refund if their money has been deducted. Here’s everything you need to know about how refunds on MoonPay work.
How Long Does It Take For MoonPay To Refund The Money?
The MoonPay refund times depend on the bank you are using, and the mode of payment done (bank transfer, credit/debit card). All payments are done through MoonPay and if they have failed, will be refunded back within a maximum of 10 working days. If it persists longer than that, contact MoonPay support – https://support.MoonPay.com/hc/en-gb/requests/new
MoonPay Refund Policy
Refunds on MoonPay will only be issued if the transaction has some issue. That is if the money from your account has been deducted and it has not appeared on the wallet.
However, once you complete a cryptocurrency transaction, it is not refundable under any circumstances.
According to their refund policy, once the transaction is complete and the cryptocurrency is delivered to your wallet, you cannot have any claim or right against MoonPay Limited.
Also Read: MoonPay Business Model: How does MoonPay Make Money?
How Do I Get Refund From MoonPay?
Again, you cannot get a refund from MoonPay if you have a successful cryptocurrency transaction. These transactions are irreversible.
However, in case the transaction did not go through, then MoonPay will send an email regarding the transaction fails and the debited amount will be credited back to the payment source within a maximum of 10 working days. This happens automatically.
MoonPay Payment Not Completed
There may be instances when your order may fail. This could happen when MoonPay could not accept your payment, or they could not verify your account or the payment method.
It can also happen when the bank declines or does not allow cryptocurrency transactions. In case, you get a message saying that your transaction was declined by the bank, contact them for more assistance.
In case, you want help from MoonPay regarding this, raise a submit request here – https://support.MoonPay.com/hc/en-gb/requests/new
My Transaction Failed And I Never Received A Refund
If the transaction fails, then temporarily, MoonPay will cancel the pre-authorization placed on your card when the first order was placed. The funds in this case may never leave your bank account. However, it may take a few working days for the same to be erased from your bank statements.
In the case of bank transfers, any debited funds will be sent back to the bank account within a few working days.
In case, you have more questions to ask MoonPay, raise a submit request here – https://support.MoonPay.com/hc/en-gb/requests/new
Also Read: MoonPay Trust Wallet Integration
I Have Been Charged Multiple Times For The Same Order
According to their website, this is extremely unlikely to happen unless you have placed multiple orders unknowingly. Please check through your transaction history to confirm this.
If this is not the case, then you can raise a submit request here – https://support.MoonPay.com/hc/en-gb/requests/new and select ‘Transactions’ – ‘I was charged more than once for the same transaction. Along with this, send them the order ID as well as the screenshot of your bank statement clearly showing the duplicate charges and your name.
Can You Get Your Money Back From MoonPay?
Only in case of failed transactions. In that case, they cancel the pre-authorization on your card temporarily. In case funds have been deducted, they send it back within 10 working days. They never charge for failed transactions.
Conclusion
This is all about refund policies and troubleshooting on MoonPay. The customer support is skilled and responsive enough to further answer any questions you may have regarding refunds. Happy MoonPaying!
Also Read: Is MoonPay Safe and Legit?
