Payment Policy

This Payment Policy is INCORPORATED AND MADE A PART OF CryptoPay Flip TERMS AND CONDITIONS.
CryptoPay has created this payment policy to outline and establish the main principles and rules of accepting and processing Merchant’s payments. The Merchant accepts that by continuing to use CryptoPay Crypto Payment Gateway and Wallet, they express their consent with this Payment Policy.

1. Deposits

CryptoPay accepts payments made in USD, EUR, HKD, and CNY. In case your payment account (i.e. your bank card account or your e-wallet account) is in a different currency, CryptoPay, or your bank/e-wallet, as the case may be, will accordingly convert the funds to any of these currencies before depositing it to your account. Likewise, the funds you withdraw will be sent to you in any of these currencies and CryptoPay or your bank/e-wallet, as the case may be, will convert the funds to your payment account currency. Please note that any exchange premiums are payable by the Merchant.

Merchant may only use his/her own personal credit/debit card or cryptocurrency wallet or other payment method to deposit to/withdraw from the Merchant’s Account. The name written on the credit cards, or registered on the payment accounts used for deposits or payouts must correspond to the personal name or business information registered on the Merchant’s Account.

It is unlawful to deposit money from ill-gotten means. We reserve the right to pay any requested withdrawal partly or in total via the same method of payment through which one or more deposits were made. We further reserve the right to pay any requested withdrawal directly to your bank card account/e-Wallet account.

Deposited funds are available on the Account within a reasonable amount of time following the confirmation of the deposit made, unless extra verification procedures are required.

CryptoPay reserves the right to perform additional identification procedures (KYC) when Merchant make deposits into his/her Merchant Account in accordance with our KYC & AML practices.

CryptoPay does not charge any fee for both fiat and cryptocurrency deposit made by Merchant.

CryptoPay charges Merchant fees as per Table 1 below for Merchant’s Customers deposits.

Table 1

Deposit made by Merchant’s Customers	Deposit Fee
Cryptocurrency deposit without exchange to Fiat currency	0.5%
Cryptocurrency deposit with exchange to Fiat currency	0.5%

2. Withdrawals

Available withdrawal options are clearly stated on the Websites or Merchant Account and may differ depending on the market from which the Merchant originates.

To withdraw funds from the account, Merchant is required to complete identity verification through KYC procedure at his/her Merchant Account. CryptoPay reserves the right to check Merchant’s identity and source of deposited funds prior to processing payouts and to hold withdrawals for the time needed to check the Merchant’s identity. In case of false data provided by the Merchant, the withdrawal can be denied and the Merchant account can be suspended or cancelled. The Merchant will be informed thereof by email noted at his/her Merchant’s Account.

The minimal amount for withdrawal and fees in fiat for Merchant is stated in the following Table 2 below. The maximum amount for withdrawal depends on the payment method the Merchant decides to use. If the requested amount of withdrawal exceeds the limit of a particular payment method, the amount will be withdrawn by installments.

Table 1

Fiat	Minimum Withdrawal	Withdrawal Fee
USD	10 USD	0.6%
EUR	10 EUR	0.6%
GBP	10 GBP	0.6%
CNY	50 CNY	0.6%

CryptoPay accepts the following cryptocurrencies, stated in the Table 3 below, which also states the minimal amount for a withdrawal, withdrawal fee, as well as the number of necessary confirmations to make a withdrawal and deposit:

Table 3

Cryptocurrency withdrawals will be made to Merchant’s cryptocurrency wallet specified by Merchant upon withdrawal. In order to withdraw any virtual currency which has been deposited, CryptoPay requires the blockchain to give confirmations of Merchant’s last deposit in amount noted at Table above, before a withdrawal can be made.

The time for a withdrawal request to be finalized may vary due to circumstances, however a withdrawal attempt should be approved or denied within two (2) days. You can rollback the withdrawal request at any time until it is finalized. When a withdrawal is cancelled, the funds are returned back to your account and you can make use of those funds accordingly on the account.

3. Exchange

CryptoPay provides service to buy and sell cryptocurrencies for the following fees as stipulated in Table 4. This fee is applicable to both Merchant and Merchant’s Customers.

Table 4

Exchange	Exchange Fee
Buy Cryptocurrency with Fiat currency	1.0%
Sell Cryptocurrency for Fiat currency	1.0%

4. Additional provisions

If CryptoPay mistakenly credits your Account with funds whether fiat or cryptocurrency that do not belong to you, whether this is due to a technical or human error or otherwise, the amount will remain the property of CryptoPay and the amount will be transferred back to CryptoPay from your Account. We reserve the right to void any transactions placed using them, including related withdrawal paid out in error. To satisfy any such liability, we further reserve the right to freeze and withhold these funds and set-off any subsequent withdrawals owed to you. If prior to CryptoPay becoming aware of the error, you would have withdrawn funds that do not belong to you, without prejudice to other remedies and actions that may be available to us at law, the mistakenly paid amount will constitute a debt owed by you to CryptoPay. In the event of an incorrect crediting, you are obliged to notify our Customer Support services immediately by email at [email protected].

Deposits made to your account should be commensurate with the purpose of using CryptoPay as a payment gateway. If at CryptoPay’s discretion, there is suspicion of abuse (for instance, where a deposited amount is not for the purposes of providing liquidity to your business, and the user then makes a withdrawal request in relation to that deposited amount or where CryptoPay suspects that you are abusing exchange rate fluctuations or made a financial gain through arbitrage), we reserve the right, in our absolute discretion, to cancel other deposit(s),and/or any withdrawals there related, in part or in full, to deduct and/or to retract any balance or costs that may have resulted in conjunction therewith from any funds held at the Merchant’s account, confiscate funds and to suspend or close the account, without any warning. We further reserve the right to request and obtain satisfactory proof of deposit and additional copies of personal or CryptoPay identification and other documents as may be required at any stage during the account’s lifetime and in such instances prior to processing any withdrawal request, the processing of such request to be entirely at the CryptoPay’s discretion. In cases where we are not satisfied by the submitted documentation, CryptoPay may cancel the withdrawal and return the funds to the account or confiscate the funds and block the account indefinitely.

You shall not treat CryptoPay as a financial institution nor expect any interest.

5. Other fees and taxes

Merchant User is fully responsible for paying all fees and taxes applied to their business proceeds according to the laws of the jurisdiction of Merchant’s registered business.

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Updated: 21 Jan 2022