Exchanging E-Currencies SafelyPosted: November 28, 2012
Exchanging E-Currencies Safely
With numerous online payment options available, many consumers have found themselves looking for ways to transfer funds between payment processors. To bypass the withdrawal / deposit process and transfer directly to another processor, members must use an e-currency Exchanger to process their funds.
Who Can Request an Exchange
STPay Exchanges are limited to:
– Customer outside of the United States*
– Customers who are Verified / Bank Verified
*Due to US anti-money laundering legislation STPay is not permitted to participate in exchanges with other e-currencies for US-based clients.
What to Expect from an Authorized Exchanger
All STPay Authorized Exchangers are required to have a website with an STPay payment button which you will use to initiate your e-currency exchange.
Once you have initiated your exchange, the transfer will be put into Pending on our site while a member of our staff reviews the transaction. When the payment is approved, the Exchanger is notified so they may complete your transaction. Note: Exchanges are approved within 1-3 business days.
During the review process, a member of our staff may request proof of payment to verify the source of funding for your exchange, so ensure that all contact details in your STPay account are complete and up-to-date. Note: We may request documentation from the original source of funding for your transfer, such as a friend who has deposited via credit card and then transferred the funds to your SolidTrust account.
If your account history shows the transaction is out of pending but you are still waiting on funds, please contact your Exchanger directly regarding the delay.
A list of STPay Verified Exchangers can be found HERE.
If you can’t find a suitable, authorized service provider it may be tempting to use an unauthorized service to complete your exchange.
It’s important to remember, however, that the sender is solely responsible for all member to member transfers sent via the “TRANSFER $$ to others” link on our site. This means that SolidTrust Pay does not offer payment protection for these transfers. If you have attempted to transfer funds to an unauthorized exchanger and not been credited by them as promised, you will be responsible for pursuing compensation directly with the recipient – the funds will not be recalled by STPay.
Fraudulent exchangers often target consumers via Facebook, Skype, Twitter, and online forums. Remember that exchanges arranged through these methods will not be protected by STPay. Beware of exchangers suggesting member to member transfers with suspicious descriptions and stick to exchangers who have websites and have been authorized by your payment providers.
If You Are Not Eligible for Exchanges
Members who are unable to exchange funds – such as those in the United States, for example – are encouraged to use any of our many withdrawal options to withdraw their funds from SolidTrust Pay. If you need assistance upgrading your account or withdrawing your funds, please visit our Knowledgebase or contact a member of our support team.