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Author Topic: How long should I wait for an exchange to refund me?  (Read 70 times)
kingplaya4
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April 18, 2019, 03:51:10 PM
 #1

Last Saturday, I tried to exchange about 2 BTC for an obscure ETH type token that my online wallet claimed they had. The token is now up about 20%, but whatever. The transaction hung for hours and I emailed them about just cancelling. (The bitcoin hit their account it hung on "exchanging coins") The last email said it would be days to manually process this refund. Several hours ago, I asked them if I could be put towards the top of the queue I actually will need to spend some of this btc and the rest, well I just don't want to have to keep worrying about it. No reply this time so far. Should I name and shame them or is it not that long yet?
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April 18, 2019, 04:11:34 PM
 #2

If it has taken time and if seems like that they are ignoring your complaints then go ahead and let people know about it. Sometimes this also turns the exchange to process quickly and also sends a warning about the exchange and make others aware how bad they are at it.

I would suggest to go ahead and report with a proper format.

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aioc
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April 18, 2019, 05:16:08 PM
 #3

Last Saturday, I tried to exchange about 2 BTC for an obscure ETH type token that my online wallet claimed they had. The token is now up about 20%, but whatever. The transaction hung for hours and I emailed them about just cancelling. (The bitcoin hit their account it hung on "exchanging coins") The last email said it would be days to manually process this refund. Several hours ago, I asked them if I could be put towards the top of the queue I actually will need to spend some of this btc and the rest, well I just don't want to have to keep worrying about it. No reply this time so far. Should I name and shame them or is it not that long yet?

You should name it, you can lock the thread or mark it solved if they resolve your issues so people will be warned about the kind of service they deliver, it's not that they are going to scam people, but at least people know what to expect on the exchange.

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April 18, 2019, 06:04:42 PM
 #4

Sometime exchanges will manually approve the transactions if there is unusual behaviour from the user.So all you can do is wait for their response.You need to name the exchange if you want to know the best suggestions from people who faced same situation with that exchange.

Another possible reason could be increase in the number of unconfirmed transaction on the network due to spike on the bitcoin prices.

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April 19, 2019, 02:50:55 AM
 #5

Sounds like you use some kind of quick exchange site like Changelly. It feels weird if your transaction was stuck as most of them would use automatic conversion that would get triggered after you've submitted the details. You mentioned last Saturday, so it's around 1 week now?

That sounds terrible, if contacting support doesn't help, maybe name the exchange here so people can be more cautious in the future.

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traderethereum
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April 19, 2019, 02:59:53 AM
 #6

I don't know how long they can refund your money because it depends on their regulations. But if everything is fine and they that you only want to get your money back, I think they will process it later. We don't know how many days they will send your money and it's better to wait for a while.

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April 19, 2019, 07:47:40 AM
 #7

You post this on Scam Accusations board, how can you accused someone if you are not dropping any names here? How can the community help you if we don't have any idea what exchanges are you talkin' about? So it's better if you could name the exchange, because it's really looks shady, to be honest.

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Lynda45
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April 20, 2019, 05:41:19 AM
 #8

Once we receive the returned items, it will take up to 7 days for us to process the refund. The refund should reflect your account depending on the method of payment. If you would like us to refund the amount to your SHEIN wallet that will take 24 hours.
kingplaya4
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April 20, 2019, 07:53:41 PM
 #9

Thanks, but it is not a SHEIN wallet, although that was helpful, I will use that timeframe. I will reveal the exchange in a week guys, I would rather resolve it with support rather than hoping they see it on here which may or may not help. I did buy a rather obscure token, it's not like I bought LTC or even DASH or EOS, so that could be a problem. But two full weeks should give them plenty of time to either purchase the token from someone or refund me.
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