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What Happens When a Fiat Provider Refunds an Order?

How a Refunded Order Appears in Gem Wallet​

When you buy or sell crypto in Gem Wallet, the order is completed by a third-party fiat provider, such as MoonPay, Transak, Banxa, Mercuryo, or Paybis. The provider decides whether to complete, cancel, or refund the order.

Gem Wallet groups the provider's final, unsuccessful outcomes under one status. An order the provider marks as refunded, cancelled, declined, or expired appears as Failed in your Buy and Sell history.

To see the provider's exact outcome:

  1. Open Buy for any asset and select the Activity icon in the upper-right corner.
  2. Find the order by its date, asset, amount, and provider.
  3. Select it to open the provider's order page, which shows whether the order was refunded, cancelled, or declined.
note

Failed in Gem Wallet doesn't always mean you'll get a refund, and it doesn't mean the provider has finished processing one. The provider's order page and emails are the source of truth.

Where Does the Refund Go?​

OrderWhat was refundedWhere it goes
BuyThe money you paidBack to the payment method you used, such as your card or bank account
SellThe crypto you sent to the providerBack to a crypto address, usually the one you sent from. Check the provider's order page for the address and transaction ID

A sell refund arrives as a normal incoming transaction in Gem Wallet. It may be smaller than what you sent if the provider deducts network fees.

How Long Does a Refund Take?​

The provider and your bank set the timing, not Gem Wallet.

  • Card payment that was only authorized: the bank releases the hold. This often takes a few business days.
  • Card payment that was charged: the provider sends a refund, and your bank may take up to several business days to show it.
  • Bank transfer: usually several business days, depending on the payment network.
  • Crypto refund on a sell order: once the provider sends it, it arrives as fast as the blockchain confirms it.

If the provider's stated time has passed and nothing has arrived, contact the provider with your order number.

Why Do Orders Get Refunded or Cancelled?​

Common reasons include:

  • Identity verification was not completed or failed. See Why Did Fiat Provider Verification Fail?.
  • The payment was declined by your bank or flagged by the provider's fraud checks.
  • The order expired before payment was received.
  • The price moved too far before the order could be filled.
  • The provider doesn't support the asset, network, or your region for that order.

What to Do​

  1. Note the provider's order number. See How to Find a Fiat Provider Order Number.
  2. Check the provider's order page and emails for the refund status and expected timing.
  3. If the refund is late or missing, contact the provider directly. See How to Contact a Fiat Provider.
  4. Contact your bank before filing a chargeback. A chargeback while the provider is already refunding can delay the refund.

Gem Wallet support can help you read your order history, but it can't issue or speed up a provider's refund. Never share your Secret Phrase, card details, or one-time codes with anyone.