What happens if a payment is delayed?
Sometimes banks delay payments. This can be a problem for sellers on the site as Bitcoin and other virtual currency prices are so volatile.
Any transaction that takes over two hours to receive is taken on a case-by-case basis. The general rules are:
- Delays were the fault of the seller: the trade will go ahead.
- Delays were the fault of the buyer or the bank: the decision is left up to the seller. Sellers try to be reasonable, e.g. if they are manually verifying trades they might not confirm trades that have gone up or down in value a large amount.
In most cases though, sellers will put through transactions anyway, especially if payment is received within 24 hours. However, sellers do reserve the right to offer a fiat refund instead.
Please note that not every seller on the Bittylicious platform is available 24/7. This means that if your payment is delayed by your bank and arrives later, you will have to wait until the seller comes back online. Sellers almost always check in at least once per day.
Do note that you will always either receive your virtual currency or your money back. You will never be out of pocket.