Transaction cancellation policy
When requesting to cancel a transaction, it is important to understand that your transaction with Covercy is always composed of two services: Currency exchange & Currency transfer.
If the transfer cannot be completed for any reason, it doesn’t mean that the exchange did not take place and therefore requesting a refund may be resolved in one of these options:
1. Receiving the original currency that you have sent may result in receiving a smaller amount than the original sent sum (due to markup and fee on the currency conversion).
2. Receiving the converted amount to the account from which you sent us the funds (subject to our regulatory compliance requirements).
Should you like to cancel a transaction and get refunded, please contact email@example.com with a clear request and our team will guide you how to proceed with the cancellation. .
Bank rejection policy
If a receiving bank rejected your transaction for any reason, we will charge an additional handling fee of 0.15% from the transaction value with a minimum of the fixed transaction fee for the source currency as displayed in this page. This amount will be charged due to the fees imposed on Covercy by its banks and payment institutions in such cases (which require a considerable amount of manual work).