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Protected payment

System participants can lower their risks with online transactions by using transfers with protection.

Attention!!! Protected transactions are POSSIBLE ONLY BETWEEN members of the System and ONLY with purse to purse transfers. Beware of scammers who "offer" you to do this through third-party resources.

Code-protected transfer is a special type of transfer, when sender's transaction locks until the recipient fulfills one of two additional conditions:

  • Enter the protection code specified by the sender, or
  • Wait for the protection period specified by the sender.

This protects system participants from erroneous transfers and fraudulent actions of their counterparties.

The use of a Code-protected transfer will protect the buyer from an unscrupulous seller if the protection code is communicated to the seller after the delivery of the goods or the provision of services.

Time-protected transfer doesn’t require typing the protection code. Funds become available to the recipient automatically after a specified period. The advantage of this option is that the seller is protected from the fact that the buyer may not provide the protection code, and the buyer can claim his rights to the [[Arbitration|arbitration service] before the expiration of the protection period.

Protected transfers have the following restrictions.

  • If the recipient enters wrong protection code more than 8 times, then the transfer is canceled and the funds are returned to the sender's purse (including a 0.8% fee);
  • A code-protected transfer also has a protection term. If the correct protection code has not been entered within this period, the transfer is canceled and the funds are returned to the sender's purse (including a 0.8% commission);
  • Transfers with an expired protection period are processed once a day and are executed (credited or returned) within 24 hours after the expiration of the term.

See also:
Code protected transfer in WM Keeper WinPro
Time protected transfer in WM Keeper WinPro
WebMoney Escrow service