Payment Policy & Procedure
Last update: April 2025
1. PURPOSE
The purpose of this Payment Policy & Procedure(hereinafter – the “Payment Policy”) is to establish operational processes andprocedures for Bank transfer and Card payment on the Platform to minimize riskand provide the greatest value, and availability of high quality services toeach CARPATHIAN FORGE (hereinafter – “CARPATHIAN FORGE”) User. CARPATHIAN FORGEprovides its services legally.
2. DEFINITIONS
- Account: means an account registered by the User on the Platform.
- Agreement on the Storage of the Cardholder’s Credentials (hereinafter “ASCC”): agreement between CARPATHIAN FORGE LTD and the User. ASCC authorize CARPATHIAN FORGE and its payment service provider to store the User’s name, surname, card expiry date and PAN number (hereinafter “the Credentials on File (COF)”) and/or to process transactions initiated by User by using COF.
- Bank: means any bank, which collects payments made by the CARPATHIAN FORGE Users on its account.
- Bank transfer: means an electronic transfer of the User's Funds from one bank/financial institution to another.
- Banking Day: means the part of a day on which the Bank is open to the public for carrying on substantially all of its banking functions.
- Cardholder: means any User, who makes payments on the Platform using a Payment card.
- Cryptocurrency: means peer-to-peer decentralized digital representation of value (e.g. bitcoins, ethers, etc.).
- Deposit: means a transfer of a certain amount of money to the User’s Account via a Payment card or Bank transfer.
- Fiat currency: means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.
- Funds: means a certain amount of money (Fiat currency and Cryptocurrency) transferred to and accumulated on the User’s Account.
- Online bank transfer: means a technical connectivity service enabling any User to fund their Accounts with a valid bank account by submitting an electronic transfer request to their bank for selected funds to be transferred to CARPATHIAN FORGE.
- Order: means a personal application to the Terms of Use.
- Payment card, Card, Debit card, Credit card: means a payment card Visa, Visa Electron, MasterCard or Maestro , which is used by the User as the means of payment on the Platform.
- Rules of International Payment Systems: means any rule, instruction, recommendation, etc., of MasterCard and/or Visa, which regulates order of processing transactions, technical requirements for processing transactions, as well as other provisions on acceptance of a Payment card.
- User: means a person or an entity that uses the Services, agrees to follow the Terms of Use and is a holder of an Account.
- Withdrawal: means removing User’s Funds from his/her Account (to User’s bank account) under the User’s instructions.
- 3-D Secure: means XML-based protocol designed to be an additional security layer for online payment card transactions.
All other terms and definitions in the Payment Policy areused in the same meaning as under the Terms of Use.
3. AGREEMENT ON THE STORAGE OF THE CARDHOLDER’SCREDENTIALS (ASCC)
For CARPATHIAN FORGE’s possibility to provide appropriateservices it should obtain from the User prior permission, with the User’sexplicit consent, to store credentials of the User, to enable COF transactionsby entering into open-ended agreement on the storage of the User credentialswhen capturing for the first time a credential of the User for storage.
Please note that if the User rejects to agree on the ASCCsuch User will has no possibility to Deposit and Withdraw fiat currencies viaСard.
The User can accept or not accept the ASCC within theregistration process and every time before the transactions.
An online cancellation procedure for the ASCC is simply andeasily accessible and is linked with the process of payment card removal: theUser should click on the red cross sign in the User’s card manager when theUser logged in with CARPATHIAN FORGE.
4. PAYMENT METHOD
For the Users’ convenience, CARPATHIAN FORGE offers severalpayment methods for Deposit Account, including Bank transfer and Card payment.Please note that withdrawal via Bank transfer is available for verified Users.
Available Currencies for trade:
- USD (United States dollar);
- EUR (Euro);
- GBP (Pound sterling);
- CHF (Swiss Franc);
Please, be informed that in case the User’s local currencyis different from USD, EUR, GBP or CHF it will be automatically converted intoselected deposit currency. The exchange rate and any other fees associated withthe transaction are calculated and deducted by your card issuer. That worksonly for cards.
4.1. BANK TRANSFER
4.1.1. International bank transfer
International bank transfer is processed via SWIFT(available for USD, EUR, GBP, CHF)
- Payment procedure
For international bank transfer, to initiate Deposit, theUser needs to obtain an electronic document with payment details on thePlatform. The document should be printed and provided to the User’s bank forrelevant payment. In case the User wants to make Deposit via international banktransfer payment by online banking the User should receive CARPATHIAN FORGE’sbank details and use them.
In order to initiate Withdrawal via international banktransfer, the User has to fill in the electronic form on the Platform. Aftersuccessful acceptance of the details provided by the User within the electronicform, the Withdrawal and Deposit will be done within the timeline indicatedherein.
- Timeline and Amount limits:
Timeline, Amount Limits and Commissions for Deposit withregard to every Currency could be found here;
Timeline, Amount Limits and Commissions for Withdrawal withregard to every Currency could be found here.
4.1.2 Domestic bank transfer
(a) USD domestic bank transfer is processed via ACHtransfer or domestic wire
Processed by the ACH or domestic wire network available onlyfor Users that have US bank account. User will be able to use ACH or domesticwire only if the payment has been done in USD.
- Payment procedure
For transfer via ACH or domestic wire, to initiate Deposit,the User needs to obtain an electronic document with payment details on thePlatform. The document should be printed and provided to the User’s bank forrelevant payment. In case the User wants to make Deposit via ACH or domesticwire by online banking the User should receive CARPATHIAN FORGE’s bank detailsand use them.
In order to initiate Withdrawal via ACH or domestic wire,the User has to fill in the electronic form on the Platform. After successfulacceptance of the details provided by the User within the electronic form, theWithdrawal and Deposit will be done within the timeline indicated herein.
- Timeline and Amount limits:
- Timeline, Amount Limits and Commissions for Deposit via ACH or domestic wire could be found here;
- Timeline, Amount Limits and Commissions for Withdrawal via ACH or domestic wire could be found here.
(b) EUR domestic bank transfer is processed via SEPA
(available only for account holders in EU banks).
SEPA bank transfer is available in the countries covered bySEPA. The information on the countries covered by SEPA is available here. User will be able to useSEPA bank transfer only if the payment has been done in EUR.
- Payment procedure
For SEPA bank transfer, to initiate Deposit, the User needsto obtain an electronic document with payment details on the Platform. Thedocument should be printed and provided to the User’s bank for relevantpayment. In case the User wants to make Deposit via SEPA by online banking theUser should receive CARPATHIAN FORGE’s bank details and use them.
In order to initiate Withdrawal via SEPA bank transfer, theUser has to fill in the electronic form on the Platform. After successfulacceptance of the details provided by the User within the electronic form, theWithdrawal and Deposit will be done within the timeline indicated herein.
- Timeline and Amount limits
- Timeline, Amount Limits and Commissions for Deposit via SEPA could be found here;
- Timeline, Amount Limits and Commissions for Withdrawal via SEPA could be found here.
(c) Faster payments
(available only for account holders in the United Kingdom’sbanks).
User will be able to use Faster Payments only if the paymenthas been done in GBP.
- Payment procedure
For bank transfer via Faster Payments, to initiate Deposit,the User needs to obtain an electronic document with payment details on thePlatform. The document should be printed and provided to the User’s bank forrelevant payment. In case the User wants to make Deposit via Faster Payments byonline banking the User should receive CARPATHIAN FORGE’s bank details and usethem.
In order to initiate Withdrawal via Faster Payments, theUser has to fill in the electronic form on the Platform. After successfulacceptance of the details provided by the User within the electronic form, theWithdrawal and Deposit will be done within the timeline indicated herein.
- Timeline and Amount limits
- Timeline, Amount Limits and Commissions for Deposit via Faster Payments could be found here;
- Timeline, Amount Limits and Commissions for Withdrawal via Faster Payments could be found here.
4.2. Card payment
- Warnings and Restrictions
In order to make Deposit, CARPATHIAN FORGE will accept fromthe User only that Payment card on which he/she is indicated as the Cardholder.
CARPATHIAN FORGE WILL ACCEPT ONLY VERIFIED PAYMENT CARDS.
The User has the right to use several Payment cards as longas they are verified.
CARPATHIAN FORGE warns that for the payment purposes theUser can use only a 3-D Secure Payment cards.
NOTE: You can check if your card is 3-D Secure protocol withyour bank.
5. PAYMENT PROCESSING TIMELINE
In accordance with the internal rules and requirement of CARPATHIANFORGE and taking into account the Rules of International Payment Systemspayment processing time depends on the chosen direction, payment method andCurrency could be found here:
- Deposit;
- Withdrawal.
CARPATHIAN FORGE reserves the right, in its sole discretion,to change the abovementioned processing timeline.
Banks/financial institutions, which initiate and make theBank transfer and Card payment, can prolong the above processing timeline withregard to their internal rules and procedures.
6. PAYMENT INVESTIGATION
In case if the User discovers that Deposit or Withdrawal hasfailed (i.e. no Account Deposit/Funds Withdrawal occurred within the processingtimeline indicated above and no notification on processing timelineprolongation was obtained) the User has the right to initiate the investigationby notifying CARPATHIAN FORGE on the payment problems. The User should complywith notification procedure indicated in the Terms of Use.
CARPATHIAN FORGE will investigate User’s case and willnotify the User on the investigation results. The time needed to complete aninvestigation will be set on the case-by-case basis.
CARPATHIAN FORGE reserves the right to suspend the User'sAccount and to lock the User’s Funds in accordance with the Terms of Use,including for investigation purpose, which means that the Funds could beinaccessible during certain period.
NOTE: All expenses, which arise upon investigation process,shall be borne solely by the User.
7. PAYMENT DEPOSIT/WITHDRAWAL CHARGES
Bank/financial institution fee will be charged on the amountof Deposit/Withdrawal and will depend on the chosen payment method. Such feewill be reflected on the Platform when choosing payment method and will becharged automatically while processing payment transaction.
8. SECURITY
CARPATHIAN FORGE has implemented technical andorganisational security for transaction capabilities that offer reliableprotection from unauthorized access and provides the User with the safest wayto make transactions over the Internet.
9. RESPONSIBILITY
CARPATHIAN FORGE is responsible for the Transaction,including services or other facilities that are the subject of the Transaction,and for related customer service, dispute resolution, and execution of theTransaction, and such services, including customer support and related service,that are not provided by the Payment Service Provider and the Bank.
10. MODIFICATIONS
The amount limits and processing timeline, as well as otherterms and conditions of this Payment Policy are subject to modification by CARPATHIANFORGE and in the case of any such modification, CARPATHIAN FORGE will makeproper announcement. The modifications will apply after CARPATHIAN FORGE hasgiven notice.
In case if the User does not wish to accept the revisedPayment Policy, he/she should not continue to use CARPATHIAN FORGE Services. Ifthe User continues to use the Services after the date on which themodifications come into effect, his/her use of the Services to be bound by themodified Payment Policy.
