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My Card/Bank Buy Order Has Been Rejected! Why?

If your transaction has been declined, there are a number of possible reasons and solutions for this.

 1. If You Made a Card Order:

  • It might be that 3D Secure verification has failed. Either because the wrong code was entered or because the card used is not 3D Secure eligible. In any of these cases, no charges will be made to your card. Note however that, we process transactions only from cards which have the 3D Secure feature activated.

  • It might be that your transaction has been flagged by our payment processor’s risk engine - this happens before your card is charged. In the very rare situation where your card is charged before the transaction is rejected, we will issue a full refund - it might take a few extra days for the funds to reach your account which depends entirely on bank processing times and is not related to our service. Unfortunately, we cannot help you her and we are not allowed to disclose the reasons for the rejection. Another way to buy virtual currencies from Coinify is to create a Bank Order instead.

2. If You Made a Bank Order:

  • This can happen in situations where the trader sends a bank transfer from a corporate/third party account which is not in the same name as the name which appears in the identity document uploaded to Coinify. To avoid this, always send the bank transfer from the same account with which you have registered for your Coinify Trade Account. And remember it has to be in your own name!

  • Another possible reason for which a trader’s transaction can be rejected is when the transfer received by Coinify comes from a bank with which we are not working - this information is available to traders in the email confirmation email received after creating a bank order. Please always pay attention to the emails Coinify sends related to your transactions. Their purpose is to help you complete your order.

    !Please note: 

  • Speaking of rejected bank orders, please bear in mind that we can identify that there is a reason to reject it first when we receive your bank transfer which may take a few days. 

  • If your bank order cannot be processed, we will contact you to ask for further information and coordinate the refund.

  • When we have to issue a refund because a customer did not follow our instructions, we will charge an administrative fee which covers the bank transfer related costs.

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Published Date = 12/02/2018
Last Updated Date = 18/01/2019
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