Refund Policy

 

X Vienas UAB ("X1") is a company incorporated under the Laws of the Republic of Lithuania for providing a virtual currency service, with a registered office at office Žalgirio av. 90-100, Vilnius, LT-09303, Lithuania, Registration Code: 305937631.

Cryptocurrency prices are extremely volatile and they can change their value in a matter of moments. That is why we would like to inform you that the transactions you perform on the X1 platform are non-refundable and cannot be reversed once they are completed. You have to consider the fact that all cryptocurrency purchased from or sold to X1 will change its value shortly after the completion of the purchase or the transaction. That is why we say crypto is of an incredibly volatile nature. Once you complete your crypto transaction, it cannot be reversed or changed.

Consumer rights under Directive 201/83/EU of the European Parliament and of the Council of 25 October 2011 do not apply to any contracts for financial services, similar to the ones X1 Exchange offers to its users. Thus, by buying or selling crypto on the X1 Exchange platform, you agree to this clarification. 

Purchases with a bank account (Wire Transfer):

There are some rare occasions when X1 Exchange may cancel your transfer order if you choose to use the wire transfer method/purchases with a bank account. Those occasions include:

 

If X1 Exchange has already received your funds and decides to cancel your order given one of the cases mentioned above, then X1 Exchange will refund the funds in question subject to the applicable laws and regulations. 

We would like to inform you that the refund in question shall be transferred to the bank account which it has originated from after deduction of any cost or expense X1 has incurred along with this transfer including but not limited to any bank account transfer changes, currency exchange changes and/or charges regarding the payment processing. It is possible for the refund transfer can be returned to another bank account of yours. In such cases, you must follow the steps of verifying that this other bank account belongs to you – we would like you to prove your identity. 

It is important for you to know that all refunds that go along with the aforementioned cases will be verified by X1. We do so to comply with the applicable Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) rules and regulations. In order for X1 Exchange to verify the refund process, we may ask you to verify your identity by providing any sort of identification documents such as an ID card, your credit or debit card details as well as your bank account details and information. In case you are not able to provide such documentation and proof of identity, then X1 Exchange keeps the right to postpone and cancel the refund operation until you succeed in providing us with the documentation in question. The same goes in the instances when we doubt the authenticity of the documents provided. 

We would like to let you know that X1 may decline to refund or we may cancel your order without any refund if we suspect that you take part in any fraudulent or illegal activity. 

If you succeeded in providing the required identification documentation, the refunds will be processed without undue delay. Usually, the refund procedure will take place within 7 (seven) business days from the time of order cancellation.