This policy explains the application of SWAPD’s 1% refund processing fee for transactions handled directly by SWAPD (crypto or credit card). The fee covers administrative, compliance, and network costs incurred during the refund process.
1. Refund Fee Details
- A 1% processing fee applies to all refunds, regardless of which party is at fault.
- The fee is automatically deducted from the refund amount before issuance.
- This rule applies to buyer-initiated, seller-initiated, and mutual cancellations, as well as refunds granted after disputes.
- External costs — such as blockchain gas/network fees or card processor charges — are non-refundable.
2. High-Value Transactions (Above $5,000 USD)
- If a transaction above $5,000 USD is canceled due to seller fault, the buyer may request reimbursement of the 1% fee directly from the seller.
- If the seller refuses, the buyer may escalate the issue to SWAPD staff.
- SWAPD may place the seller’s account on hold until the matter is resolved.
3. Transactions via Trustap
- Refunds for Trustap transactions are governed entirely by Trustap’s own Terms of Service and fee policies.
- SWAPD and VEYYO LP have no control over Trustap refunds, including refund timing or applicable fees.
- Users conducting transactions through Trustap must accept Trustap’s rules as binding.
4. No Exceptions
- The 1% refund fee applies universally to all SWAPD-processed transactions (crypto + credit card).
- There are no exceptions to this rule.
- This ensures consistency, fairness, and sustainability in refund handling across the platform.