How do refunds, reversals & chargebacks work with my OKX Card?

Refunds and chargebacks with my OKX Card generally follow standard Mastercard® processes. However, because your card payments involve stablecoin-to-fiat conversion at the time of purchase, refunds can look slightly different from a typical fiat-only card.

The key thing you should remember: merchants settle in fiat (typically EUR), even though my payment is funded by stablecoins held in the Pay feature.

Key terms

Refund
A merchant-initiated return of funds after a completed purchase (for example, when you return an item).

Reversal / void
A cancellation of a transaction that was authorized but not fully completed or settled (common with hotels, fuel stations, or certain online orders).

Chargeback
A formal dispute process via the card network when you believe a transaction is unauthorized or incorrect and you can’t resolve it directly with the merchant.

What happens when I receive a refund?

1. The merchant submits the refund through their payment provider.

2. Mastercard routes it back through the issuer flow.

3. The refund is credited back to my card-related balance path (as shown in the app).

Important: because settlement is in fiat and my payment funding is in stablecoins, the refunded amount may reflect:

• the original purchase amount in the purchase currency

• network exchange rate effects (for non-EUR purchases)

• any conversion mechanics involved in the original transaction

You’ll always see the final posted amount and status in the OKX app once the refund is processed.

Why might my refund amount differ from the original purchase?

Refund differences can happen for normal card-payment reasons, including:

• non-EUR currency rate changes between purchase date and refund date (Mastercard exchange rate applies)

• partial refunds, tips adjustments, or merchant corrections

• pre-authorizations (for example, hotels) where the final charged amount differs from the initial hold

This isn’t unique to crypto-backed cards — but I may notice it more if you expect the exact same stablecoin amount back.

What timelines should I expect?

Refund timing mostly depends on the merchant and their bank/payment provider:

• reversals/voids can be fast (same day to a few days)

• refunds often take several business days

• chargebacks can take weeks, depending on the evidence and network process

If a refund has been initiated, you should confirm receipt/confirmation from the merchant and monitor the transaction status in the OKX app.

How do I dispute a transaction?

Before filing a dispute:

• You should try to resolve the issue directly with the merchant.

• You should collect evidence (receipts, order confirmations, delivery proof, communications).

If you need to open a dispute, you should reach out to OKX Assistant and provide:

• transaction date/time

• merchant name

• amount/currency

• reason for dispute

• supporting documents/screenshots

What if I see a duplicate charge?

Sometimes what looks like a duplicate may be:

• an authorization + final settled transaction (not a true duplicate)

• multiple authorizations that later disappear (common with hotels/fuel)

If both transactions remain posted as completed, you should share full details with support for investigation.