How SendCrypto cryptoback work?
SEND Card offers cryptoback for every purchase that you make with the card*. The cryptoback percentage depends on your card level and the amount of SENDC holdings in your SendCrypto Account. Cryptoback is calculated on a daily basis for each settled** purchase from the previous date. SendCrypto will continue to add new benefits and perks to this program.
In case of a refund, SendCrypto has the right to deduct the cashback. The deducted SENDC amount is calculated as the initial EUR amount of the cashback on the date of the settlement and converted to the SENDC amount on the date of the deduction. In other words, the deducted amount always has the same EUR value as initially granted but may have a different SENDC value due to the different exchange rates of EUR to SENDC on the date of the settlement and the date of the deduction.
*Cryptoback is paid daily in SENDC to your SendCrypto account. The SEND Card cryptoback program only applies to eligible purchases made with your SEND Card. The list of qualified merchants and conditions is subject to change by SendCrypto’s sole discretion.
SendCrypto has the right to the final interpretation of whether the transaction is a subject of the reward (aka the SendCrypto Cryptoback). We recommend you use your SEND Card directly for payments. By doing this, you can increase your chances of getting SENDC cashback for your purchases.
**”Settled” purchase or transaction means that the funds of this purchase have arrived in the bank account of the seller, e.g., your grocery store. The process of settlement is performed by the payment network and may take up to 18 days.
Where can I see the earned SENDC cryptoback?
You can see the cryptoback rewards under [Transaction History] along with the original purchases. Cryptoback is calculated and transferred to your SendCrypto account after the purchase is settled (typically happens a few days after the purchase). Note that the following types of transactions are excluded from the SENDC Rewards program calculation: Digital banking services, crypto exchanges, stored value products, and money remittance services. The list of qualified merchants is subject to change by SendCrypto and its partners’ sole discretion.
When can I send my cryptoback rewards to my connected web 3 wallet?
You can send your collected SENDC cryptoback rewards to any web 3 wallets immediately after receiving them in your SendCrypto account, just bare in mind that the more SENDC you have in your SendCrypto wallet the higher the cryptoback percentage will be for your next purchase.
In case the cryptoback received for the current month exceeds the threshold for your card level at the moment of the cryptoback calculation, you will only be rewarded a partial cryptoback within the cap for the card level. Any further purchases you make within the month will not be rewarded any cryptoback. Cryptoback is calculated from the 1st day of the month at 00:00:00 UTC. The cryptoback limit will be reset every month, and you will be able to receive cryptoback rewards again in full according to your card level.