Rules for Fiat Transactions

Notice to Buyers:

1. Please complete your payment within the time stipulated by the seller, and click "Confirm Payment". If the order is canceled due to a timeout because the buyer completed the payment but failed to click the “Confirm Payment” button, the buyer may contact customer service for assistance.
2. If the buyer completes the payment and cancels the order by mistake, customer service can assist in contacting the seller to request a refund.
3. Should there be three canceled orders by the buyer actively or due to timeout on a single day, the system will restrict the buyer’s authority in placing orders and issuing trusted orders on that day.
4. Don't click "Confirm Payment" without completing a successful payment, or it will be deemed as a malicious payment. If the seller refuses to issue a refund, the buyer shall bear the primary responsibility for any resulting loss of funds. In case of any complaint about such orders, the seller may refuse to conclude the transaction, and the Platform is entitled to cancel the buyer’s fiat transaction authority if malicious payment behavior is confirmed.
5. If the buyer clicks "Confirm Payment" first and then makes the payment, the seller has the discretion to continue or cancel the transaction.
6. Please complete the payment with your real name payment account (e.g., bank account or electronic wallets). Please note that cash-based or untraceable payment methods, including but not limited to ATM cash deposits made directly into the counterparty's account, where the source of funds cannot be independently verified, are not supported. If you make a payment using a falsified name or with a different account name, the seller is entitled to 1) ask for a video of the buyer and the owner of such account holding their ID cards or passports for KYC to prove the legitimacy of the funds; 2) cancel the order after refunding the paid amount to the payment account; 3) contact the KuCoin customer support to freeze the order immediately without releasing the digital assets, and seek assistance and coordination.
7. The buyer shall bind a valid payment tool registered with the real name used on the Platform for payment. Suppose the buyer fails to make a payment as indicated on the seller's order (including making payment via an account bound with the order or other account opened with the actual name used on the Platform). In that case, the seller may refuse to conclude the transaction, with the risk of payment errors arising therefrom borne by the buyer.
8. For timely transactions, please choose real-time bank or wallet transfer options supported in your jurisdiction. (Notes: If the amount exceeds the applicable local transfer limits, please make the payment in batches in accordance with local banking rules.) When the seller does not receive the payment 10 minutes after the buyer clicks "Confirm Payment", the seller can click "Need Help" to submit an appeal.
9. Digital assets corresponding to the pending orders will be locked. If no digital assets are received from the seller after the buyer completes the real-name transfer and clicks "Confirm Payment", the buyer can click "Need Help" to submit an appeal.
10. The buyer shall not leave any information in the remittance note; otherwise, the seller is entitled to cancel the transaction after the refund.
11. If the actual amount paid by the buyer is greater than the order amount and click "I've paid" at the same time, KuCoin customer support will contact the seller to refund the excess amount; if the seller refuses to refund the excess amount, the buyer shall be mainly responsible for the loss of funds.
12. If the buyer transfers the money to the seller’s other bank account or another person’s bank account and does not use the seller’s registered bank information for payment, the two parties need to communicate on their own, and the buyer bears the risk of the wrong transfer.

13. Order Cancellation and Timeout Behavior

    Behavior	Trigger Standard	Platform Handling Measure
    Voluntary order cancellation	≥ 5 times in a single day	Buying and order placement privileges will be restricted for the day
    Cancellation caused by failure to pay before timeout	≥5 times in a single day	Buying function will be restricted
    Consecutive timeout cancellations	≥ 5 times	Some fiat functions of the account will be restricted

14. Clicking “Paid” Without Making Payment (High Risk)

    Behavior	Handling Measures
    Clicking “I Have Paid” without making payment	First occurrence: Warning + suspend fiat trading functions until the case is resolved; restore the functions 24 hours after resolution
    Repeated violations (≥3 times)	Freeze fiat trading functions for one month
    Serious circumstances	Permanently restrict fiat trading privileges

15. Payment Account Inconsistency / Non-Real-Name Payment

    Behavior	Handling Measure
    Payment using an account inconsistent with KYC	The seller may refuse the transaction + request a refund
    Use of another person’s account / unlinked payment method	Cancel the order + return the assets + increase the risk-control rating
    Mixed use of a commercial/corporate account (undeclared)	Treated as high-risk behavior; fiat functions will be restricted

16. Payment Abnormalities and Incorrect Amounts

    Behavior	Platform Handling Measure
    Payment amount ≠ order amount	Optional: complete the transaction or cancel and refund
    Partial payment	If not completed within 24 hours, the platform reserves the right to cancel the order.
    Failure to cooperate with refund of an overpayment	Risk-control freeze + investigation and handling

17. Malicious Behavior (High Risk / Red Line)

    Behavior	Handling Measure
    Maliciously holding an order / snatching low-price orders	Forced cancellation + trading restriction
    Card testing / testing payment methods	Freeze fiat functions for at least 7 days
    Providing false proof of payment	Permanent ban
    Inducing offline transactions	Permanent ban
    Malicious police report / fraudulent funds	Permanent account restriction

18. Transaction Contact and Cooperation Issues — Fiat Trading Rules:

    Behavior	Handling Measure
    No response within 30 minutes after Customer Support intervention	First warning + 24h restriction
    Repeated 3 times or more	Freeze for 1 month
    Invalid phone number / unable to contact	Risk-control rating increased

Notice to Seller:

1. The seller shall bind a valid collection tool registered with the real name used on the Platform. Should the collection tool be deemed inconsistent with the real name used on the Platform, the Platform is entitled to cancel the fiat transaction authority of the seller.
2. The seller shall confirm the selling price before selling. Should there be any complaint arising from the price, we will allocate and then directly transfer the assets to the buyer if the buyer completes the transaction in strict accordance with the rules.
3. If the seller does not receive the payment within 10 minutes after the buyer clicks "Confirm Payment", the seller can click "Need Help" to submit an appeal. If the counterparty does not respond or fails to provide valid supporting information within the platform-required timeframe after an appeal is initiated by the Seller, the Platform may proceed with adjudication based on the evidence available. Any resulting losses shall be the responsibility of the Buyer.
4. The seller shall carefully check if the name on the payment information corresponds with the buyer’s real name to avoid payment risks. In case of any inconsistency, the seller is entitled to 1) ask for a video of the buyer and the owner of such account holding their ID cards or passports for KYC to prove the legitimacy of the funds; 2) cancel the order after refunding the amount to that payment account; 3) contact the KuCoin customer support to freeze the order immediately without releasing the digital assets, and seek assistance and coordination.
5. If the buyer makes payment via a payment method inconsistent with their registered real name on the Platform and the seller accepts such payment, which then results in freezing of the other's payment account or other negative results, the Platform has the right to undergo such investigation and is entitled to directly freeze the accounts of both the buyer and the seller.
6. The seller shall release the digital assets as soon as possible after receiving the payment. If the seller refuses to release an order that has already been marked as “Confirm Payment,” despite the buyer having followed the transaction rules in strict accordance, the buyer may contact KuCoin customer support to file a complaint.
7. If the buyer's payment is less than the order amount, click the "Confirm Payment" button at the same time. If the payment is not made up within 24 hours or the buyer cannot be contacted, in order to ensure the seller's benefit, the seller will refund and the order will be canceled.
8. If the seller does not confirm whether the payment has been received, however, released the currency in advance, and the buyer has the funds in the account, the customer service will assist in prohibiting the withdrawal of the currency and contacting the buyer to return the currency or make the payment. If the buyer refuses to return the currency or make the payment, the seller is recommended to call the police to deal with it; if the buyer’s account has no funds, the seller shall bear the risk of releasing the currency in advance.

9. Release and Refund Violations

   Behavior	Handling Measure
   Releasing assets before receiving payment	Bear the loss independently
   Receiving payment but not releasing assets	Forced release + restriction of fiat functions
   Delayed release (over 30 minutes)	Warning / repeated conduct results in function restriction

10. Collection Account Risk

    Behavior	Handling Measure
    Collection through an account not in the seller’s real name	Restriction of fiat functions
    Risk caused by incorrect collection information	The seller bears responsibility
    Collection account abnormality resulting in a freeze	Suspend trading + risk-control review

11. Improper Order Handling

    Behavior	Handling Measure
    Refusal to complete the transaction without reason	Restriction of trading privileges
    Refusal to cooperate with a refund	Risk-control handling + possible permanent restriction
    Use of an unauthorized collection channel	Freeze fiat functions

High-Risk Behavior Model

Risk Classification and Penalty Logic

Risk Warning and Disclaimer:

• You fully understand the risks associated with P2P transactions, including but not limited to the risk of fluctuations in the value of Digital Assets, the credibility risks concerning the counterparties under P2P transactions, and the compliance risks of fiat currency transactions.
• You have sufficient investment knowledge and experience, and the ability to bear the risks associated with P2P transactions, and agree to independently bear all the risks arising from the engagement in P2P transactions.
• Users should not indicate any personal information (i.e., social networks, messengers) neither in the trading conditions nor in auto-replies for their safety.
• Users should not include “KuCoin”, names of local banks and payment systems, or any of the sensitive words in their nicknames.
• It is forbidden to use multi-accounts to trade on P2P. In case such Accounts are detected, we have the right to block all linked user accounts from trading.
• Before engaging in a P2P transaction, you confirm that you have read and understood all contents of this Policy, the Terms, and the relevant rules on KuCoin platforms, and that you have consulted professionals before deciding, at your own discretion, whether and how to complete P2P transactions based on their recommendations.
• The Platform is not a party to any P2P transaction. Accordingly, any disputes arising between users in connection with P2P transactions are independent of the Platform.
• You agree and authorize the Platform to take all reasonable actions (including but not limited to canceling transactions or disabling account features under certain circumstances) in accordance with this Policy, the Terms, and relevant rules on KuCoin platforms to safeguard you, the platform’s and other Users’ legitimate rights.
• Please note that the payment methods on KuCoin P2P are displayed as options of fiat transactions between Users. KuCoin does not establish any form of business relationship with the payment method listed on KuCoin P2P platform.
• If the user deletes the account while there are pending orders, the orders will automatically be deemed as given up by the user. The platform will then handle the account’s orders.
• In the event of a dispute, the Platform reserves the right to request relevant evidence from both Parties for the purpose of dispute resolution. The Platform's determination shall be made based on the information and evidence provided. The Platform shall not be liable for any losses arising from inaccurate, incomplete, or misleading evidence submitted by either party.
• For malicious freezing of orders, malicious payments, transaction fraud, and other acts, the Platform can choose to freeze the accounts and give assistance to the judiciary authority when necessary. The Platform will not be responsible for any loss of orders engaged in complaints due to market fluctuations.
• Digital assets are innovative investment products featuring great price fluctuation and high investment risks. You are expected to have a full understanding of digital assets risk and make rational investment decisions considering your set of abilities.