Refund Policy
Our comprehensive refund policy outlines the conditions and procedures for refunds across different types of transactions on the Mybitstore platform.
Important: Refund eligibility depends on transaction type and completion status. Please read this policy carefully to understand your rights.
P2P Transactions
All transactions made via P2P are direct peer-to-peer payments. This means that once a payment is sent, there is no way for Mybitstore to reverse the transaction or reclaim funds on your behalf.
No Refund Policy for P2P
Important: As a result, we're unable to resolve any payment disputes regarding payments using P2P. All P2P transactions are final and irreversible.
What This Means
- P2P payments are direct between users
- Mybitstore cannot reverse or cancel P2P transactions
- Users are responsible for verifying transaction details before sending
- Disputes must be resolved directly between the parties involved
Refund Process for Transactions with Mybitstore
In order to request a refund, the buyer must contact Mybitstore directly. The information provided regarding purchase issues should be true and reliable.
Refund Request Requirements
- Accurate Information: False and inaccurate information may invalidate refund eligibility
- Transaction Identification: If the buyer cannot properly identify the transaction, the refund cannot be processed
- Direct Contact: Refund requests must be made by contacting Mybitstore directly
Refund Confirmation
Notification: Once the refund is completed, Mybitstore will send a notification to the buyer confirming the refund.
Purchase of Cryptocurrency from Mybitstore
No Refund Policy
Where the purchase of cryptocurrency is made directly from Mybitstore, there shall be no refund when the transaction is completed.
Important Considerations
- Ensure you verify all transaction details before confirming
- Double-check the cryptocurrency amount and type
- Confirm your wallet address is correct
- Understand that completed transactions are final
Purchase of Cryptocurrency by Mybitstore
No Reversal Policy
Where the purchase is made by Mybitstore, there shall be no reversal and/or refund when the transaction is completed.
Completed Transactions
A transaction is completed where Mybitstore and/or a buyer receive the cryptocurrency purchased and the payment is successfully processed.
Transaction Completion Criteria
Mobile Money Payment
Payment is successfully deducted from Mybitstore or buyer's mobile money account
Bank Transfer
Payment is successfully deducted from Mybitstore or buyer's bank account
Cash Deposit
Money is successfully deposited in the designated bank and a pay-in-slip is issued
Incomplete Transactions
Refund Available
Where payment is made by a buyer but the transfer of the cryptocurrency is not successful, a refund of the sum shall be made in the currency the sum was received to the buyer.
What Qualifies as Incomplete
- Payment processed but cryptocurrency not delivered
- Technical failure preventing cryptocurrency transfer
- System error during transaction processing
- Network issues preventing completion
Cancelled Transactions
Refund Policy for Cancellations
Where a purchase is cancelled by a buyer, the sum paid shall be refunded in the value and currency received from the buyer.
Order Cancellation: Occurs when the buyer cancels the order during the payment process.
Overpayment
Buyer Overpayment
Where a buyer overpays for a purchase, the excess amount shall be refunded in the currency received from the buyer.
Mybitstore Overpayment
Customer Refund Obligation
Where Mybitstore overpays for a transaction due to miscalculation, error, or any technical mishap, the customer shall refund the amount overpaid.
Refund Methods
- Automatic deduction from Mybitstore App account balance
- Mobile money payment (if no account balance)
- Bank transfer
- Deposit payment
- Any method communicated by Mybitstore
Customer Consent
The customer grants consent to the deduction of overpaid amounts from monies contained in their Mybitstore App account. Where no amount is held in the account, the overpaid amount shall be refunded through alternative payment methods.
Underpayments
Buyer Underpayment
Where a buyer underpays for a purchase, the buyer shall either:
- Top up the difference to complete the transaction
- Request a refund of the amount paid
Mybitstore Underpayment
Payment Correction
Where Mybitstore underpays a customer, the difference in payment shall be made through:
- Mobile money payment
- Bank transfer
- Bank deposit
- Any method of payment agreed by Mybitstore and the affected customer
Need Help with Refunds?
If you need to request a refund or have questions about our refund policy:
Customer Support: support@mybitstore.com
Phone: + (233) 24 978 4105
Response Time: We aim to process refund requests within 3-5 business days. Complex cases may take longer to resolve.