At Bitflow, We strive to provide Our Users with efficient and effective recovery
services. However, We understand that there may be instances where a User's
funds cannot be recovered despite Our best efforts. In such cases, We offer this
Refund Policy to Our Users, which outlines the conditions under which refunds
may be granted for transactions involving Virtual Assets.
By engaging Our Services, Users agree and acknowledge that they have read,
understood, and agree to be bound by Our Refund Policy. We are committed to
upholding the highest standards of integrity and accountability in Our
interactions with Users, and We stand behind Our commitment to provide fair and
equitable solutions to Our Users in cases where it is possible.
This Refund Policy is a part of Additional Documents, specified in the Bitflow’s
Terms of Use, and it is a mandatory, binding and integral part of the Bitflow’s
Terms of Use.
By accessing or using our Services, the User agrees and acknowledges being
legally bound by the terms and conditions of this Policy. If the User does not
agree to this Refund Policy, the User must refrain from using our Platform
and/or Services.
Our Approach
We strive to provide excellent Service to our Users, and We are committed to
providing fair and transparent refund processes to ensure a positive experience
for Our Users. For this reason, Bitflow respects the User’s right to Refund
based on this Refund Policy.
Without prejudice to other provisions of this Refund Policy, the User agrees and
acknowledges the finality of all purchases, sales or exchanges of Virtual
Assets, whether they are completed or pending. Virtual Assets transactions
(either completed or pending) are irreversible, non-refundable and cannot be
changed once submitted by the nature of the Virtual Assets and Blockchain
technology itself.
Without prejudice to other provisions of this Refund Policy, the User
understands that due to the nature of Virtual Assets markets, all
transactions/operations are final and non-reversible, therefore Refunds may not
always be possible.
Refund Policy only applies to Transaction Fees and Users’ Funds.
Bitflow will handle each Refund request with appropriate care and
professionalism.
Bitflow commits to making every effort to help Users with any Refund disputes
regarding purchased Virtual Assets.
Refunds cannot exceed the original amount paid by the User.
Definitions
“Bitflow” means Bitflow Lab s.r.o., a company incorporated under the laws of
Czech Republic ("We", "Us", or "Our", and, in relation to the Services,
"Bitflow", as applicable), having its business address at: Chudenická 1059/30,
Hostivař, 102 00 Praha 10, Czech Republic. Bitflow has been granted trade
license (authorisation) for providing services related to Virtual Assets.
“User” means any natural person and/or legal entity that uses Bitflow’s
Services, as well as agrees to follow the Bitflow’s Terms of Use.
“Business Day” means a day other than a Saturday, Sunday or a public holiday in
Czech Republic when financial institutions in Czech Republic are open for
business.
“Prohibited conduct” means fraud, money laundering, financing of terrorism and
other criminal conduct.
“Criminal conduct” means any action or omission, which constitutes a criminal
offence in any part of the world or would constitute a criminal offence in any
part of the world if it occurred there.
“Money laundering” means any of the activities and/or practices indicated under
the Section 3 of the Act No. 253/2008 Coll. on some measures against
legalization of revenues from criminal activities and terrorism financing, as
amended (“AML Act”).
“Financing of terrorism” means any of the activities and/or practices indicated
under the Section 3 of the Act No. 253/2008 Coll. on some measures against
legalization of revenues from criminal activities and terrorism financing, as
amended (“AML Act”).
“Fraud” any act or omission, including the provision of false information, that
intentionally or negligently misleads or intends to mislead someone in order to
obtain financial and/or other benefits and/or evade liability.
“Funds” means a certain amount of funds (Fiat Currency and Virtual Assets
(Cryptocurrency)) transferred to and accumulated on the User’s Account (Wallet).
“Fiat Currency” means the currency which the User sends to/receives from the
Bitflow that is legal tender issued by a central bank or equivalent public
authority.
“Virtual Assets” means the cryptocurrency which the User sends to/receives from
the Bitflow that cannot be considered Fiat Currency.
“Issuing Bank” means the bank that has issued payment card to the User as
Cardholder.
"Refund" means the return of funds to the User, initiated at the request of the
User and subject to the terms and conditions outlined in this Refund Policy.
“Chargeback” means return of the User's money (funds) by his/her Issuing Bank
due to the disputed and/or fraudulent transaction.
“Refund request” means the request sent by the User to the Bitflow, by which the
User requests the refund.
“Refund Eligibility Criteria” means the set of requirements that must be met by
the User for sending the Refund request for Bitflow’s due and proper
consideration and assessment.
All other terms and definitions in this Refund Policy are used in the same
meaning as under the Bitflow’s Terms of Use.
General conditions
Refund request will only be considered and assessed by the Bitflow, where the
User complies with the Refund Eligibility Criteria in full.
In order to apply for a Refund, the User must send the Refund request to the
Bitflow’s Support Team e-mail:[email protected]
Users agree and understand that submission of Refund request to Bitflow does not
guarantee that the User’s Refund request will be successful.
All transactions/operations and information related to refund will be duly and
properly verified and assessed by the Bitflow to prevent Prohibited Conduct. All
Refund request will be thoroughly checked and verified.
Bitflow shall process the User’s Refund request as soon as is reasonably
practicable. Response times will vary depending on stated reasons for the
request.
In any case, Bitflow shall notify the User on the outcome (result) of the Refund
request sent by the User in accordance with the timescales set out herein.
Where the User fails to meet any of the Refund Eligibility Criteria specified in
this Refund Policy, the Bitflow shall have the right, at its sole discretion, to
decline the User’s Refund request.
Bitflow may request the User to provide any data, documents and information,
including, but not limited to, identification documents (ID), copy of the User’s
Payment Card, Invoice(s) and/or any other proof (evidence) of the fact that
disputed payment/transaction was carried out.
In case if the User fails to provide appropriate and/or requested data,
documents and information within 5 (five) Business Days upon the Bitflow’s
request and/or in case of any doubts as to authenticity of provided data,
documents and/or information, Bitflow shall be entitled to decline the User’s
Refund request.
Other Refund conditions
If Bitflow is unable to complete the User’s Virtual Assets purchase order,
Bitflow will let the User know and, if possible, the reasons for the refusal and
an explanation of how to correct any factual errors. However, Bitflow will not
notify the User if such notification would be unlawful/illegal.
Bitflow will refund the User’s Fiat Currency payment to the payment account from
which the User sent it, as long as Bitflow is permitted to do so under
applicable laws and this Refund Policy.
If at any time any Third-Party Services cease to make their programs available
to Bitflow on reasonable terms, Bitflow may cease to provide such features to
the User without entitling the User to refund, credit, and/or other
compensation.
Refund Request Assessment Procedure
The User understands that in case if the User sent Virtual Asset to the wrong
account (wallet) address, Bitflow cannot support and/or refund the User.
The User understands that it is his/her sole responsibility to be vigilant of
any fraud or mistake and to keep its private key safe.
Bitflow will not take responsibility to issue refunds, regardless of whether the
User were the victim of fraud, mistake or loss of private key.
If for some reason the User’s transaction fails or is cancelled, Bitflow will
make a refund to the User.
All Refund requests will only be accepted for consideration where the notice
(request) is received by Bitflow no later than forty-eight (48) hours after made
transaction/operation.
The Refund request should be provided to Bitflow by the User to
[email protected], and shall include the following mandatory information:
User’s ID;
All the details about the transaction/operation;
Subject of the request;
Detailed explanation of the reason(s) for requesting a refund;
Contact information;
Supporting documents (proof/evidence);
Other data, documents and information that the User considers relevant
to the Refund request.
The assessment of the User’s submitted Refund request may start only after the
User’s identity has been properly verified by the Bitflow.
The User is responsible for ensuring that all information provided in a Refund
request is accurate and complete.
The Refund request should be sent to the Bitflow’s e-mail address, specified in
this Refund Policy, with 'Refund Request’ in the subject line.
In case of any additional questions regarding the Refund Policy, the User shall
contact the Support Team via the e-mail address, specified in the Refund Policy.
Non-Refundable Transactions/Operations
The User agrees and acknowledge that Refunds are not granted for:
Market-related losses due to price changes in Virtual Assets (including
all possible losses due to market volatility or price fluctuations of
Virtual Assets);
User errors after transaction confirmation (e.g., sending to wrong
address, including by mistake by the User, such as incorrect recipient
details after confirmation);
Fraudulent or abusive Refund requests; and/or
Other transactions/operations specified in this Refund Policy as
non-refundable.
Users making fraudulent or abusive Refund requests may be blacklisted and
prohibited from future transactions/operations.
Bitflow neither bears any responsibility, provides any refunds, nor covers any
losses caused by inappropriate or unauthorised use of its Services by the User.
Processing Timeline and Procedure
Within 5 (five) Business Days as of the date of Refund request receipt, Bitflow
shall contact the User to request further data, documents and/or information (if
required), and the User shall provide such data, documents and information as
soon as reasonably practicable but no later than 5 (five) Business Days
following such request, unless otherwise specified in this Refund Policy.
The User agrees and acknowledges that in some cases, Bitflow reserves the right,
at its sole discretion, to extend the investigation period as necessary. In such
cases, Bitflow will notify the User regarding the extension of the investigation
period and provide an estimated time frame for the completion of the
investigation, where feasible. If Bitflow does not respond within 5 (five)
Business days from the moment of receipt of the Refund request from the User, it
should be presumed that the Refund request has been extended for an in-depth
investigation.
Bitflow shall notify the User by e-mail on its final decision regarding the
User’s Refund request. It is the User's responsibility to regularly check for
updates on their refund status.
If Bitflow agrees that the User is entitled to a refund, Bitflow will process
the refund as soon as it is reasonably practicable.
If the Refund request is deemed to be justified and approved by Bitflow, the
funds will be refunded back to the User through the same payment method and to
the same digital wallet, credit/debit card or bank account from which the funds
were originally received.
The User understands that depending on the User’s bank, the refund can take up
to 10 (ten) Business Days or even longer. In case if the User still have not
received its funds back, the User may send to Bitflow a new request. If the User
wishes to expedite this process, the User shall contact the bank
himself/herself, as Bitflow cannot accelerate the process.
Bitflow shall not be liable for delays or failures in refund processing caused
by interruptions to its services due to technical issues, maintenance, or other
reasons beyond its control.
The User will have no refund when:
Requested by Bitflow to do so, the User fails to provide Bitflow with
data, information or/and document(s) within the terms set herein; and/or
If Bitflow suspects that the User has, or is, engaged in, or have in any
way been involved in, fraudulent or any illegal activity, including
Prohibited Conduct;
Bitflow reserves the right to lock the User’s Funds while Refund investigation
is in process, which means that the Funds could be inaccessible to the User
during such investigation.
Bitflow at its sole discretion reserves the right to proportionally extend the
Refund investigation time, if the User provides the data, documents and/or
information requested by Bitflow with an (unjustified) delay.
The User agrees and acknowledges that Bitflow shall not be held liable for any
decision to deny a Refund request or Chargeback, if it determines, at its sole
discretion, that a Refund/Chargeback is not possible due to the nature of
Virtual Assets transactions, non-compliance with Refund Eligibility Criteria, or
any other reason specified in this Refund Policy and applicable laws. The User
hereby waives any claims or demands against Bitflow in such circumstances.
Non-refundable expenses
Users agree and acknowledge that certain expenses incurred during the Refund
process may not be eligible for Refund.
Non-refundable expenses may include third-party service fees, administrative
costs, or expenses associated with specialized tools or technologies utilized in
the recovery process.
Chargebacks
The User understands that there are no chargebacks associated with Virtual
Assets transactions, and all of the transactions on the Blockchain are final and
irreversible.
Bitflow expects the User to contact it using the Bitflow’s contact details to
resolve any problem or issue related to his/her payments/transaction before the
User makes any Chargeback request.
This Section does not affect any rights and/or claims, which the User may have
against the bank/financial institution.
Bitflow will investigate any Chargeback requests made by the User.
Bitflow reserves the right to suspend User's Account and lock User's Funds
during the Chargeback investigation procedure.
If the User selected a Payment Method which gives the User Chargeback rights
(for example in relation to the User’s credit card, the User may ask his/her
card provider to reverse a transaction on his/her card), the User acknowledges
and undertakes that he/she will only exercise this Chargeback right if:
Bitflow has breached the Terms of Use; and/or
There was an unauthorised use of the User’s payment instrument.
If Bitflow needs to investigate or take any actions in connection with a
Chargeback raised by the User, Bitflow may charge the User for its costs in
doing so.
Confidentiality Obligations
Any data, information and/or documents submitted by the User in connection with
a Refund request will be treated confidentially and used solely for the purpose
of assessing the Refund request.
Bitflow may disclose such information to third parties only if required by law
or if necessary for the purposes of fraud prevention or compliance with
regulatory requirements.
Special Circumstances
In the event of regulatory changes, significant platform updates, or force
majeure events (e.g., natural disasters, major cyber-attacks), other refund
policies may be adapted accordingly. Bitflow will put such policies on its
Website.
Final Provisions
In the event of a dispute arising from a Refund request, the User agrees to
first attempt to amicably resolve the dispute informally by contacting Bitflow’s
Support Team.
Any charges, which arise upon processing Refund, shall be borne solely by the
User. Such charges will be deducted from the final amount of refund.
This Refund Policy will be amended from time to time if there is any change in
the laws. Terms and conditions of the Refund Policy are subject to change by
Bitflow.
Bitflow reserves the right to modify this Refund Policy at any time. Changes
will become effective immediately upon posting the revised policy on the Bitflow
Website.
It is the User's responsibility to regularly review this Refund Policy for any
changes. Continued use of Bitflow's services by the User after such changes
constitute acceptance of the revised Refund Policy.
If the User does not agree with any changes (modifications) to the Refund
Policy, the User must discontinue using Bitflow's Services and may request
Account closure by contacting Bitflow's support team.
In case if the User does not wish to accept the revised Refund Policy, he/she
should not continue to use the Bitflow’s Services. If the User continues to use
the Services after the date on which the change comes into effect, his/her use
of the Bitflow’s Services to be bound by the new Refund Policy.
