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Announcement: Updates to Refund Program for Faster P2P Transactions
Announcement: Updates to Refund Program for Faster P2P Transactions
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Written by Remitano
Updated over a week ago

At Remitano, we constantly strive to enhance your trading experience and provide a secure, efficient platform for your transactions. After careful evaluation and feedback from our valued users, we have decided to improve our existing refund program for transaction fees.

On January 1, 2024, the 50% transaction fee refund for the slow-released trades program will be closed. The primary objective of these changes is to encourage faster trade confirmations and ensure a smoother trading process for both buyers and sellers.

Penalties for sellers intentionally slowing down transactions.

If sellers take more than 15 minutes to release a trade in which buyers have already completed their payment, the trade will be called a "slow" trade, and the sellers will receive below penalties.

  • First time: A 50% deduction from the transaction fee.

  • Second time: The entire transaction fee will be deducted.

  • Third time: The user's ability to use the P2P function will be suspended for at least one day.

In addition, if sellers cause many disputed trades, the seller's Trust Score will also drop. If this score drops sharply, the seller will lose the "quick seller" title in his profile and cannot create ads on P2P.

If you have any questions or concerns, feel free to reach out to our customer support team.

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