Refunds & Cancellations

This policy explains what happens to money paid on KASDAQ when a deal does not finish: when it comes back, how long it takes, and where it goes. It forms part of the Terms of Use, and the Terms govern where the two overlap.

Every sale here is between two users. We are not the seller and we are not a party to the sale, so this is not a shop's returns policy. It describes the money we can reach — a payment made through the platform on a deal that has not yet settled.

Money you send to somebody directly — by bank transfer, cash, or any other means off the platform — is outside all of this. We cannot see it, cannot recover it, and cannot help you get it back.

When a buyer pays, the money is not sent to the seller. It stays at Paystack, our CBN-licensed payment processor, until the handover is confirmed — then it settles to the seller, or it comes back to the buyer if the deal fails.

That is a payment-timing arrangement on one specific deal, not a balance. There is no wallet on this platform, nothing you can spend, and nothing you can withdraw. Money on a deal has exactly two destinations: the seller when it completes, or the buyer's own bank account when it does not.

A matched deal gives the buyer 15 minutes to pay. If nothing arrives in that window the deal is cancelled automatically, the seller's item goes back on the market, and the buyer picks up a strike. Nobody has been charged, so there is nothing to refund.

If part of the money arrived before the window closed, that part is treated like any other payment on a dead deal and comes back to you — see below.

You do not have to ask. When a deal closes without completing — cancelled, timed out after a partial payment, or resolved in your favour — everything you funded on that deal is returned to you automatically.

• The full amount you paid on that deal, including the service fee. We keep nothing from a deal that did not happen.
• Sent to your own bank account — the one in your name that was verified against your identity. We do not pay third parties, and we do not pay it out as credit.
• Within 24 hours, and usually much faster. Your bank then applies its own timing.

You can see the return on the deal itself. If something goes wrong at the bank end the transfer is retried, and if it keeps failing it comes to us to sort out by hand.

If we receive money from you that does not match a deal waiting to be paid — the wrong amount, a duplicate, or a transfer that landed after the window closed — we record it against your account and return it to the bank account we hold for you.

Money recorded this way is money awaiting return. It is not a stored balance, it cannot be spent on the platform, and it is not withdrawable on demand.

Your six-character handover code releases the payment. Read it to the seller only when the item is in your hands and you are satisfied with it.

Confirming a handover is your acceptance of the item. After that, faults you could have found by inspecting it at the handover are not something we can reverse, and any manufacturer or retailer warranty is a matter between you and whoever issued it.

This does not remove any right you have under Nigerian consumer law, or your right to complain to the Federal Competition and Consumer Protection Commission.

Either of you can raise a dispute at any point before a deal settles — the item is not as described, the other person did not turn up, something happened at the handover you are not comfortable with. Once a deal has settled or been refunded it can no longer be disputed.

While a dispute is open the payment stays protected and neither side is paid. We look at the listing, the messages, the photographs and the payment record, and then we either release the payment to the seller or return it to the buyer. There are only those two outcomes, and the money can only go to one of the two people in the deal.

We are not a court and not an arbitrator: we decide on the evidence in front of us, our decision on where the money goes is final for the purposes of the platform, and it does not affect either party's right to pursue the other through the courts. The full clause is in the Terms.

A swap is two people exchanging devices. Each side commits a flat ₦2,000 holding fee once they accept a match, and where the two devices are not worth the same, the difference is paid through the platform by whichever side is behind.

• The buyer's service fee comes back with the deal if the deal fails. It is only earned on a deal that completes.
• Our seller commission is taken out of the settlement, so on a failed deal it is never charged at all.
• The swap holding fee is refunded if the swap does not complete, and earned if it does.
• The HD listing video pass is a subscription, not a deal. It does not renew automatically, and it is not refundable once videos have been used against it.

Bank charges that your own bank applies to a transfer are between you and your bank, and are not something we can return.

Returns are automatic, so the usual reason for a delay is at the bank rather than here. If 24 hours have passed and you have not seen it, open the deal and use the support desk, or email support@kasdaq.io with the deal reference.

If you want to complain about how we handled it, write to support@kasdaq.io. We will acknowledge it within 5 working days and try to resolve it within 30 days.