1. “Alteway” means Alteway UAB (reg.number. 305744301, Vytenio str. 9, Vilnius, Lithuania, LT-03113) or Altepay.com SIA (reg.number 40203326990, Cesu 9 k1, Riga, Latvia, LV1012) depending on which company provided services to a Client.
2. “Client” means a person who has agreed to all terms and conditions of Alteway, as well as other relevant policies, and uses the Alteway exchange service.
3. “Alteway exchange service” means exchange of fiat currency for cryptocurrency, and cryptocurrency for fiat currency.
4. This Refund policy describes the procedure for returning funds that Alteway has received from the Client in relation to the Alteway exchange service.
5. Alteway guarantees the right of the Client for a Refund if he/she did not receive the Alteway exchange service for reasons beyond Client’s control. In this case, the Client sends a request for a Refund to the e-mail address: [email protected] .
6. If a Refund request is made, the Client is required to provide all of the necessary documents which may be requested by Alteway including, but not limited to, identification documents, copy of the Client’s payment card and invoice or/and any other prove of the fact that the disputed payment was made. In case the Client fails to provide appropriate documents or information within 3 (three) days upon the Alteway request or in case of any doubts as to authenticity of the provided documents, Alteway shall be entitled to decline the Clients’s Refund request.
7. The Refund policy applies exclusively to the funds which the Client has sent to Alteway for the purpose of receiving Alteway exchange service.
8. Alteway has the right to Refund the funds to the Client if verification of the Client is not completed within 48 hours from the date of receipt of funds due to the Client’s fault (for example, the Client has not provided Alteway with relevant KYC documents). In this event Alteway, in accordance with applicable law, will Refund funds to the Client minus the Alteway fee of 2% (min 25 eur) of the amount to be Refunded plus bank charges.
9. In the implementation of the Refund, all commission costs associated with the Refund are withheld from the funds received from the Client and are equivalent to following fees payable:
9.1. Refund of fiat currency:
VISA/MASTERCARD
Processing fee: 3%
Alteway fee: 2% (min 25 eur)
SEPA/SWIFT
Bank charges according to fees of each bank
Alteway fee: 2% (min 25 eur)
9.2. Refund of cryptocurrency:
Commission related to the cryptocurrency return processing depends on the type of cryptocurrency, rate changes, network commission, etc.
Alteway fee: 2% (min 25 eur equivalent)
Please note that the cryptocurrency rate can change very dynamically, therefore, there may be a negative difference between the value of the cryptocurrency at the time of purchase and its value at the time of sale – difference shall be covered by the Refund amount.
10. Refund shall be made to the same source from which they have originated, after deduction of any cost or expense Alteway incurs with regards to such transfer, including without limitation any wire transfer charges, currency exchange charges and/or payment processing charges.
11. Notwithstanding the above, Alteway reserves the right to cancel the Alteway exchange service without any Refund, or decline any Refund request, if it suspects that the Client has or is engaged in, or has in any way been involved in, fraudulent or illegal activity.
12. Within 3 (three) business days as of the date of Refund request receipt, Alteway will contact the Client to request further information (if required) and the Client shall provide such information as soon as reasonably practicable but in any case, no later than 3 (three) days following such request.
Alteway shall notify the Client by e-mail on its final decision regarding Refund:
1) within 5 (five) days following the receipt of the last requested additional document or information;
2) within 5 (five) days following the receipt of Refund request if no further information or document is requested.
13. Refund will be processed without undue delay, and in any event within 3 (three) business days beginning with the day on which the Alteway agrees that the Client is entitled to a Refund, subject to the requirements set forth hereinabove, and provided that the Client does not fail to provide Alteway with any information and/or documentation required in order to process the Refund.
14. The Client will not be entitled to a Refund:
1) When requested by Alteway to do so, the Client fails to provide Alteway with information or/and document(s) within the 3 (three) days.
2) If Alteway suspects that the Client has, or is, engaged in, or has in any way been involved in, fraudulent or illegal activity, including prohibited conduct, there is no ground for Refund.
NOTE: Alteway reserves the right to lock the Client’s funds while the Refund investigation is in process, which means that the funds could be inaccessible during such investigation.
15. In case a suspicious activity of the Client is registered, Alteway may suspend the Alteway exchange service for the purpose of conducting an internal investigation.
16. Any charges, which arise upon processing Refund, shall be borne solely by the Client. Such charges will be deducted from the final amount of Refund.
17. If Client decides to change his/her mind and wishes to return the cryptocurrency purchased from Alteway, Alteway would be able, at its sole discretion, to buy it back from the Client based on the current market rate minus the service fee payable for the transaction. For this purpose, please contact Alteway via email at [email protected].
All requests for return (refund) will only be accepted where notice is received by Alteway no later than 360 (three hundred sixty) days after the transaction for which the Refund is requested. Additionally, there is a grace period of 180 days given for customers who can prove their inability to submit a refund request within given time (360 days). Refund fee for grace period is set individually.
18. Alteway reserves the right to make changes and amendments to this Refund Policy including if any changes are made in the legislation.
In case if the Client does not wish to accept the revised Refund Policy, he/she should not continue to use Alteway exchange services. If the Client continues to use the Alteway exchange service after the date on which the change comes into effect, his/her use of the Alteway exchange service to be bound by the new Refund Policy.
19. Alteway has the right to transfer the refund obligation to a third party under assignment and transfer agreement with the third party, in this case, after confirmation of the refund by Alteway, the Client will receive a refund from the third party indicating as [refund from Alteway]
