Handling Payment Errors in Crypto Purchases: A Step-by-Step Guide

·

What to Do When Buyers Pay the Wrong Amount

Buying cryptocurrencies on peer-to-peer (P2P) platforms like OKX can sometimes lead to payment discrepancies. Whether you've overpaid, underpaid, or sent funds to the wrong account, here's your comprehensive action plan:

Scenario 1: Overpayment

1. For Uncompleted Orders

If you've clicked "Transfer Completed" but the seller hasn't released coins:

2. For Completed Orders

After coins are released but you discover overpayment:

Scenario 2: Underpayment

When you realize insufficient funds were sent:

  1. Contact seller via IM to:

    • Negotiate balance top-up OR
    • Request full refund
  2. If unresponsive:

    • Wait 5 minutes then click "Appeal"
    • Cancel order after refund confirmation

Scenario 3: Wrong Recipient Account

Case A: Paid via wrong method (e.g., used WePay for Alipay order)

Case B: Sent to third-party account


Pro Tips for Smooth Transactions

✅ Always double-check payment amounts and details
✅ Keep transaction screenshots until order completion
✅ Enable phone notifications for support calls

👉 Secure your next crypto trade with OKX's verified P2P platform


FAQ

Q1: How long do refunds take?
A: Typically 1-3 business days after seller confirmation.

Q2: What if the seller disappears?
A: OKX support will freeze the seller's assets during investigation.

Q3: Can I cancel an appeal?
A: Yes, via the same order page before resolution.

Q4: Are virtual phone numbers reusable?
A: No, they expire in 3 minutes—refresh to get a new one.

Q5: What evidence helps most in appeals?
A: Timestamped bank/POS receipts showing exact amounts.