VAULTXESCROW PAYMENT POLICY

Effective Date: [15/05/2020]

At VaultxEscrow, we are dedicated to delivering reliable and secure payment solutions tailored to diverse transaction types. Our payment policy ensures transparency and clarity while offering flexibility for various escrow services.

1. Cryptocurrency-Exclusive Payment for Cryptocurrency Escrow Services
VaultxEscrow accepts cryptocurrency exclusively as the means of payment for all cryptocurrency-related escrow services. This policy is designed to align with the nature of crypto transactions and ensure seamless integration with blockchain technology.

Accepted Cryptocurrencies
We support a wide range of cryptocurrencies, including but not limited to:
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Tether (USDT)
  • USD Coin (USDC)
Additional cryptocurrencies as listed on the VaultxEscrow platform.
The list of supported cryptocurrencies is updated periodically to reflect market demand and technological advancements.

Payment Process for Cryptocurrency Escrow Services
Payment Address Generation:
A unique wallet address will be provided upon initiating a transaction, ensuring secure fund transfers.
Blockchain Confirmation:
Payments are valid only after a specified number of confirmations on the relevant blockchain.
Timely Payment:
Payments must be completed within the specified timeframe to avoid delays, cancellations, or additional fees.

Refunds for Cryptocurrency Transactions
Refunds, if applicable, will be issued in the cryptocurrency originally paid. The refund amount will reflect the cryptocurrency’s value at the time of the refund and not the original payment value.

2. Payment Options for Non-Cryptocurrency Escrow Services
For all other escrow services, VaultxEscrow offers flexible payment methods to accommodate diverse needs. These include:
  • Bank Transfers (ACH, wire transfers, and SWIFT)
  • Credit/Debit Cards

Payment Process for Non-Cryptocurrency Escrow Services
Bank Transfers:
Bank details for wire or ACH transfers will be provided upon transaction initiation. Users are responsible for ensuring accuracy in payment details.
Credit/Debit Cards:
Transactions made via card may require additional verification for security purposes.
E-wallets:
Supported e-wallet services will be displayed during payment selection, and users can choose their preferred option.

Refunds for Non-Cryptocurrency Transactions
Refunds will be processed in the original payment method, subject to the terms and timelines of the chosen payment provider.

3. General Payment Policies
Fees:
  • Cryptocurrency Escrow Services: All fees associated with cryptocurrency escrow services are payable in cryptocurrency and will be clearly displayed before the transaction is initiated. These fees are calculated based on the total transaction value and may vary according to the type of cryptocurrency used.
  • Non-Cryptocurrency Escrow Services: For all non-cryptocurrency escrow services, fees will vary depending on the selected payment method (bank transfer, credit card, e-wallet, etc.) and the specifics of the transaction. All applicable fees will be transparently disclosed at the time of transaction initiation.
Conversion Rates:
  • For transactions involving currency conversion (such as converting USD to cryptocurrency), the applicable exchange rate will be determined at the time of payment. The exchange rate will be based on live market data, and any conversions required will be automatically handled at that point in the process.
Disputes and Chargebacks:
  • Cryptocurrency Payments: Payments made using cryptocurrency are final once confirmed on the blockchain. Due to the irreversible nature of blockchain transactions, no chargebacks or reversals can be made for cryptocurrency payments.
  • Non-Cryptocurrency Transactions: For non-cryptocurrency payments (e.g., bank transfers or credit card payments), chargebacks and disputes will be managed according to the policies of the respective payment provider. VaultxEscrow will follow its established dispute resolution policy in collaboration with the payment provider to address any concerns or discrepancies.
Timeliness:
  • All payments must be completed within the specified timeframes outlined during the transaction setup. Should a payment not be received within the designated period, the transaction may be canceled or modified at the sole discretion of VaultxEscrow. It is the responsibility of the buyer or seller (and broker, if applicable) to ensure that payments are made promptly to avoid delays or disruptions in the transaction process.

4. Security and Compliance
VaultxEscrow prioritizes the safety of user transactions and compliance with global financial regulations.
Identity Verification:
  • Users may be required to complete KYC (Know Your Customer) and AML (Anti-Money Laundering) verification before making payments.
  • Documentation required may include government-issued IDs, proof of address, or other relevant information.
Transaction Monitoring:
  • VaultxEscrow reserves the right to monitor and review transactions for compliance with its terms of service and regulatory obligations.
Accuracy of Payment Details:
  • Users are solely responsible for providing accurate payment details. VaultxEscrow is not liable for errors resulting from incorrect payment information.

5. Important Notes
Minimum Escrow Transactions: VaultxEscrow implements a minimum amount of escrow transaction valued at $1000 to ensure cost-effectiveness.
Cryptocurrency Transactions: VaultxEscrow does not accept fiat payments for cryptocurrency escrow services under any circumstances.
Non-Cryptocurrency Transactions: Alternative payment methods are available only for escrow services unrelated to cryptocurrency.
Policy Updates: VaultxEscrow reserves the right to update this payment policy. Users will be notified of changes via email or platform announcements.

For any questions or support regarding payments, please contact VaultxEscrow customer support at support@vaultxescrow.com or via support ticket.