Overview:
Bitso is committed to maintaining a secure and compliant trading environment. In certain circumstances, accounts may be subject to closure for several reasons, including but not limited to noncompliance to the platform terms and service and non-compliance with regulatory provisions. This policy outlines the procedures regarding the reimbursement of funds deposited into closed accounts.
Reimbursement for Initial Deposits:
- For purposes of this Policy, an initial deposit (the “Initial Deposit”) should be considered the first crypto deposit, that is made into the account of an account owner, that has received a communication issued by Bitso informing the closure of their account.
- Users whose accounts are closed according to Bitso’s own criteria for any of the reasons mentioned above will be eligible for reimbursement of the Initial Deposit made into their account.
- The reimbursement will be processed for the total amount of the Initial Deposit minus the corresponding withdrawal fee, which will be charged double, as published in bitso.com/fees/ in the same currency in which the Initial Deposit was made. In the event the Initial Deposit is less than the withdrawal fee such funds will not be processed and therefore the reimbursement will not take place.
Subsequent Deposits and Forfeiture:
- Users who have experienced an account closure and have been reimbursed for their Initial Deposit will not be eligible for further reimbursements of any subsequent deposit made into their accounts.
- Subsequent deposits shall not be considered for reimbursement, therefore Bitso will not be responsible for loss of funds that may occur after the account closure notice has been issued and sent to the account owner.
Processing Time:
- Reimbursements for initial deposits will be processed within 30 business days from the date of account closure.
- Users will be notified via the email address associated with their account once the reimbursement has been initiated.
Exceptions:
- In exceptional cases, where regulatory requirements, legal proceedings need the freezing or forfeiture of funds or any other reason that Bitso may deem appropriate, Bitso will reserve the right to deviate from this Policy.
Contact and Support:
- For any questions or concerns regarding account closures and reimbursements, users can contact our support team at customersupport@bitso.com.
Changes to the Policy:
- Bitso reserves the right to modify, amend, or update this policy at any time. Users will be notified of any changes when they are eligible to be part of this Policy
Conclusion:
By using the services of Bitso, users agree to adhere to this Account Closure and Reimbursement Policy. It is essential for users to review this policy periodically for any updates or changes.