This policy describes the procedure for returning funds in the Coinumm exchange service in depending on the type of exchange operations performed. Coinumm guarantees the right of  Client for a refund if he/she did not receive the cryptocurrency into the wallet address provided in the order or funds for the exchange made to the bank account

1. If Client decides to change his/her mind and wishes to return the cryptocurrency purchased from Coinumm, Coinumm 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 Coinumm via email at [email protected]. If a refund request is made, the Client is required to provide all of the necessary documents which may be requested by Coinumm 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 two (2) days upon the Coinumm request or in case of any doubts as to authenticity of the provided documents, Coinumm shall be entitled to decline the Clients’s Refund/Return request.

2. The refund policy applies exclusively to the funds which the customer has sent to Coinumm in accordance with the order placed at the platform. Any third - party cryptocurrency purchases, made at the exchange platforms other than Coinumm will not be refunded.

3. Wire Transfer/Card payment:

3.1. In circumstances relevant to wire transfers and card payments made to Coinumm, such as (1) failure of the Client to provide the relevant KYC documents within 48 hours upon order creation; (2) if the Client shares his/her log in data to the Client's account with a third party; (3) if the Client chooses to cancel the order, Coinumm reserves the right to cancel such transfer order. In the event Coinumm cancels the order, if Coinumm already received the funds from the Client with regards to such order, Coinumm will, subject to applicable law and regulation, refund such funds to the Client minus the service fee payable for the transaction.

4. In the implementation of the Refund/Return, all commission costs associated with the return are withheld from the funds received from the Client and are equivalent to following fees payable:

4.1. Refund/Return of fiat currency:

VISA/MASTERCARD
Processing fee: 4%
Coinumm fee: 4%

SEPA/SWIFT
Bank charges according to fees of each bank
Coinumm fee: 6%

4.2. Refund/Return of cryptocurrency:

VISA/MASTERCARD
Coinumm fee: 4%
Commission related to the cryptocurrency return processing depends on the type of cryptocurrency, rate changes, network commission, etc.

SEPA/SWIFT
Coinumm fee: 6%
Commission related to the cryptocurrency return processing depends on the type of cryptocurrency, rate changes, network commission, etc.

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.

5. Such refund shall be made to the same source from which they have originated, after deduction of any cost or expense Coinumm incurs with regards to such transfer, including without limitation any wire transfer charges, currency exchange charges and/or payment processing charges.

6. Notwithstanding the above, Coinumm reserves the right to cancel the order 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.

7. Refund will be processed without undue delay, and in any event within 5 (five) business days from cancellation of order, subject to the requirements set forth hereinabove, and provided that the Client does not fail to provide Coinumm with any information and/or documentation required in order to process the refund.

8. Coinumm provides the Clients of the company with an option to resolve any issues related to the use of the services of the company prior to the submission of the written complaint by the Client to his/her bank. In case a suspicious activity is registered in the account of the Client, Coinumm may suspend the activity of the account for the purpose of conducting an internal investigation.

9. Any charges, which arise upon processing Refund/Return, shall be borne solely by the Client. Such charges will be deducted from the final amount of Refund/Return.

10. Coinumm 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 Coinumm Services. If the Client continues to use the Services after the date on which the change comes into effect, his/her use of the Services to be bound by the new Refund Policy.