What Happens When You Request a Refund on a Crypto-Funded Card

Where the refund goes

A refund for a card purchase is generally returned to the same card. If that card is funded from a crypto wallet, the refund is credited back to the wallet balance rather than as new cryptocurrency matching the original payment coin. For example, if you spent from a wallet holding multiple coins, the refund appears as a fiat-equivalent balance in the wallet. This is the same as how a refund to a traditional bank card appears in the linked account.

Refund processing times

Refund processing times depend on the merchant and the card network's own procedures, not on whether the card is crypto-funded or bank-issued. A merchant may take a few days to process the refund, and the card network may take additional time to settle it. The wallet app will show the refund once the card network has completed the settlement. These timelines are similar to what you would experience with any other card.

Formal dispute and chargeback process

A formal dispute, also called a chargeback, is generally handled according to the card network's rules. Its availability and conditions can differ from card issuer to card issuer. Some crypto-funded cards offer the same chargeback protections as traditional cards, while others may have limited dispute options. Checking the card issuer's terms before relying on chargeback rights is worthwhile. Nexus Pay, like other card issuers, follows the rules of the Visa network for disputes.

Keeping transaction records

Keeping a record of the transaction from the wallet app's transaction history is useful when raising a dispute. The date, amount, and merchant name are the key details, the same as keeping a receipt would be for any other card. The wallet app typically stores this information, making it easy to reference when contacting support. Having these details ready speeds up the dispute process if a refund is not issued as expected.

Common questions