Coinify charges various fees in order to cover the costs of returning or re-issuing funds to traders. Here's a list of the scenarios in which we charge an administrative fee:
Bank transaction refunds (€20 / €30)
In general, we apply a fee when refunding bank transactions to traders. If the bank transaction is refunded due to a technical issue on our side, we will not apply a fee.
For refunds to EU/SEPA Bank accounts the fee is €20.
For refunds to international bank accounts the fee is €30.
Bank transaction re-issue (€20)
If the bank transaction we sent to your account in relation to your sell trade is returned to us, we can usually re-issue it. In such a case, we will charge a fee of €20.
Keep in mind that whenever an international bank transaction is returned, it is likely that we will receive a lower amount due to intermediary banks charging their fees.
Sell trade refunds (€25/€50)
If you are unable to provide the documents required by our Compliance Department, we will refund you the amount of bitcoins equivalent to the FIAT value of your payout at the moment the refund is issued.
For sell trade refunds the fee is €25/€50.
PSOF refunds (up to €250)
Coinify reserves the right to charge an administrative refund fee up to 250 EUR that will be determined on a case to case basis. This fee may apply when extensive resources will be required to handle the case and/or customer rejects to provide PSOF documents.
- Cancel the trade form the Trade History menu.
- Contact our support as soon as possible and provide enough information for us to identify the trade and the bank transaction.
Sending cryptocurrency to one of our addresses by mistake (up to 20%)
If you send cryptocurrency to one of our addresses by mistake, we will charge a fee of up to 20% of the amount returned. We understand that mistakes can happen and we charge the fee in order to cover our costs of handling the case. You can read more about it here.
NOTE: Keep in mind that whenever an international bank transaction is issued, it is likely that you will receive a lower amount due to intermediary banks charging their fees.