Zebpay rates are also unreasonably high.There buy and sell price difference is also high.This is unfair. Sometimes it is more than 2k inr
Totally agree, even Unocoin rates are similar to zebpay most of the time.
Topic: Zebpay and their unethical hidden fees - page 2. (Read 10414 times)
Totally agree, even Unocoin rates are similar to zebpay most of the time.
Zebpay rates are also unreasonably high.There buy and sell price difference is also high.This is unfair. Sometimes it is more than 2k inr
As already explained, on special bank accounts ( and in some banks, you have to buy it as top up product ) you get lot more details about transaction which includes sender details.
But again this is on best effort basis. If we find you are using third party accounts to transfer, we will not accept that payment.
I hope I was able to answer your concerns.
Regards
Mahin
If there is a rule like that are you sure you have mentioned that in your website.It is really unacceptable to charge hidden fees and ask them to read the terms of service agreement .I would like to know what is the real reason for banning third party account transfers.But again this is on best effort basis. If we find you are using third party accounts to transfer, we will not accept that payment.
I hope I was able to answer your concerns.
Regards
Mahin
As already explained, on special bank accounts ( and in some banks, you have to buy it as top up product ) you get lot more details about transaction which includes sender details.
But again this is on best effort basis. If we find you are using third party accounts to transfer, we will not accept that payment.
I hope I was able to answer your concerns.
Regards
Mahin
If there is a rule like that are you sure you have mentioned that in your website.It is really unacceptable to charge hidden fees and ask them to read the terms of service agreement .I would like to know what is the real reason for banning third party account transfers. But again this is on best effort basis. If we find you are using third party accounts to transfer, we will not accept that payment.
I hope I was able to answer your concerns.
Regards
Mahin
If a user is found repeatedly using third party account to transfer funds, then we charge it.
How do u find whether an user is doing NEFT from his/her verified bank account or some other third party account? NEFT details does NOT include sending bank account details. U get only the reference no.If it comes to our notice, we will not accept that payment. Most of the banks provide topup product, special accounts where you can receive more details about transaction.
Regards
Mahin
Great... but how do u make sure that the verified bank account is really verified? I mean to say, how do u ensure that the owner of the bank account is the same person indicated in the ID proofs provided?
But again this is on best effort basis. If we find you are using third party accounts to transfer, we will not accept that payment.
I hope I was able to answer your concerns.
Regards
Mahin
If a user is found repeatedly using third party account to transfer funds, then we charge it.
How do u find whether an user is doing NEFT from his/her verified bank account or some other third party account? NEFT details does NOT include sending bank account details. U get only the reference no.If it comes to our notice, we will not accept that payment. Most of the banks provide topup product, special accounts where you can receive more details about transaction.
Regards
Mahin
Great... but how do u make sure that the verified bank account is really verified? I mean to say, how do u ensure that the owner of the bank account is the same person indicated in the ID proofs provided?
If a user is found repeatedly using third party account to transfer funds, then we charge it.
How do u find whether an user is doing NEFT from his/her verified bank account or some other third party account? NEFT details does NOT include sending bank account details. U get only the reference no.If it comes to our notice, we will not accept that payment. Most of the banks provide topup product, special accounts where you can receive more details about transaction.
Regards
Mahin
If a user is found repeatedly using third party account to transfer funds, then we charge it.
How do u find whether an user is doing NEFT from his/her verified bank account or some other bank account? NEFT details does NOT include sending bank account details. U get only the reference no.
I have not used Zebpay personaly. But if ur concerns are legit, then u shud file
complaint at ur local consumer court against unethical trade practices. PM me if u need a good lawyer dealing in cyber laws.
complaint at ur local consumer court against unethical trade practices. PM me if u need a good lawyer dealing in cyber laws.
I thought I should update here. They did not charge me the fee like they had mentioned in the automated email, and Zebpay support clarified to me that they have the system in place to curb abuse.
Anyway, if they do charge this fee to anyone else, they should have it mentioned clearly at the time of giving bank details inside the app.
Anyway, if they do charge this fee to anyone else, they should have it mentioned clearly at the time of giving bank details inside the app.
Hi tu-co
Thanks for update. I am not sure why you have not received email immediately. May be some issue at tech side. I hope yur issue was resolved. I will really appreciate if you can update OP with this update.
Regards
Mahin
Zebpay
This is the main reason of not using zebpay or coinsecure as they are not legit exchanges and they bend their rules as and when they like and they also dont give full details on clear,
They are very much legit site. Why do you say so that they are not? Also as far as known they do not make any changes on random basis yet and charge as per what they like. They have a standard rates and functionalities on which its based on.
I placed sell order for 0.29 btc and they charged 40 rs just for placing order.
I understand fees are necessary for running their services but charging fee even before actual sell is not fair.
This is Mahin here from Zebpay. Please accept our sincere apologies if there was any inconvenience to you.
Zebpay DOES NOT CHARGE ANY FEES for placing order. Please PM me your registered mobile number and order id and I will look into it immediately.
Also on almost all cases, Zebpay does not charge fees for refunding payments. If a user is found repeatedly using third party account to transfer funds, then we charge it. Also sometimes few users try to abuse system. As a responsible exchange we can not allow our accounts to be misused. Also such transfers and refunds are time consuming in terms of compliance and processing and eventually they slow down overall support and order processing. To discourage such behaviors we have this provision.
Please feel free to get back to me in case you have any questions or concerns.
Regards
Mahin
Zebpay
This is the main reason of not using zebpay or coinsecure as they are not legit exchanges and they bend their rules as and when they like and they also dont give full details on clear,
They are very much legit site. Why do you say so that they are not? Also as far as known they do not make any changes on random basis yet and charge as per what they like. They have a standard rates and functionalities on which its based on.
I placed sell order for 0.29 btc and they charged 40 rs just for placing order.
I understand fees are necessary for running their services but charging fee even before actual sell is not fair.
This are the hidden charges they charge which most of the seller or buyer dont check and they dont know that they are trading with high fees, No other exchange have this rule of charging fees even before the trade is done and just to place the order you are charging it then if the trade gets success then you are charging more also.
This is the main reason of not using zebpay or coinsecure as they are not legit exchanges and they bend their rules as and when they like and they also dont give full details on clear,
They are very much legit site. Why do you say so that they are not? Also as far as known they do not make any changes on random basis yet and charge as per what they like. They have a standard rates and functionalities on which its based on.
I placed sell order for 0.29 btc and they charged 40 rs just for placing order.
I understand fees are necessary for running their services but charging fee even before actual sell is not fair.
This are the hidden charges they charge which most of the seller or buyer dont check and they dont know that they are trading with high fees, No other exchange have this rule of charging fees even before the trade is done and just to place the order you are charging it then if the trade gets success then you are charging more also.
This is the main reason of not using zebpay or coinsecure as they are not legit exchanges and they bend their rules as and when they like and they also dont give full details on clear,
They are very much legit site. Why do you say so that they are not? Also as far as known they do not make any changes on random basis yet and charge as per what they like. They have a standard rates and functionalities on which its based on.
I placed sell order for 0.29 btc and they charged 40 rs just for placing order.
I understand fees are necessary for running their services but charging fee even before actual sell is not fair.
This is the main reason of not using zebpay or coinsecure as they are not legit exchanges and they bend their rules as and when they like and they also dont give full details on clear,
They are very much legit site. Why do you say so that they are not? Also as far as known they do not make any changes on random basis yet and charge as per what they like. They have a standard rates and functionalities on which its based on.
This is the main reason of not using zebpay or coinsecure as they are not legit exchanges and they bend their rules as and when they like and they also dont give full details on clear,
It's a misunderstanding from your end here as Zebpay has clearly mentioned that they accept deposits from bank accounts only and the payment mode can be NEFT/RTGS/IMPS. They also mentioned to add the reference number from YOUR bank account statement which means it should be only YOUR BANK that sends the payment which means that it should not be any third-party sending the payment.
I feel the fee is too high that they charged you for the mistake but they should have mentioned it first. Sorry for your loss but next time be careful while reading their terms.
I feel the fee is too high that they charged you for the mistake but they should have mentioned it first. Sorry for your loss but next time be careful while reading their terms.
I thought I should update here. They did not charge me the fee like they had mentioned in the automated email, and Zebpay support clarified to me that they have the system in place to curb abuse.
Anyway, if they do charge this fee to anyone else, they should have it mentioned clearly at the time of giving bank details inside the app.
Anyway, if they do charge this fee to anyone else, they should have it mentioned clearly at the time of giving bank details inside the app.
I am not a member of Zebpay so i am not sure what their terms and conditions are and if they are not clearing stating that they wont accept non banking transactions they have to specify that clearly and they cannot take money to refund the amount .You can file a complaint to consumer protection if that is the case.
It is rather unfortunate incident. Some how before purchase of bit from zebpay or for that matter other available option, i knew that paytm and other mobile wallets are not acceptable. Your point is right if there is no mention of 'mobile-wallet not accepted' policy.
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