How your crowdfunding payment is processed?

Paying for your investments

You can pay for your investments in a TokenMarket approved campaign in two ways: by a bank card at the time of creating your investment, or by a bank transfer. Any payments or deposits made using a bank or credit card will be transferred to a third-party payment provider, Pay Safe Limited. Any payments or deposits made by bank transfer will be made to a different third-party payment provider, Clear Junction Limited. In each case, payments will be credited to custodial accounts. Further details of PaySafe and Clear Junction are here [] and [].

Note: No funds will be held by or transferred to TokenMarket or any Issuer itself until the relevant offer is unconditional. In the interim, funds will be held by PaySafe or Clear Junction in designated client accounts.

It is important to note that tokens will be allocated to you based upon the full amount you subscribe if the offer is successful. If the Offer is unsuccessful the amount returned to you may be subject to deduction of certain fees as set out below, depending upon how you paid.

Using Debit or Credit Cards.

You can pay using any debit or credit cards but there may be the fees to bear. Non- European credit cards may incur higher fees. You cannot use cards from any countries not supported by PaySafe. For details of any restrictions on payment cards see the PaySafe website.

Fees for the use of credit card and debit cards may vary. Costs payable by the Issuer will be as follows:

  • A gateway fee of [10 – 20] pence per transaction;
  • A flat fee of 0.7% of the amount transferred;
  • A fee of 0.2% of the payment amount from a debit card or a fee of 0.3% of the payment amount for credit card transfers;
  • A fee of 1.4 to 2% for transfers from non-European credit or debit cards; and
  • A scheme fee (a fee for using the transfer network) of 0.04% rising to 0.4% for non-European cards.

If the Offer is successful, the amount transferred to the Issuer will be after deduction of these charges but it will not affect the number of tokens to be issued to an Investor. If the Offer or your application for tokens is unsuccessful, your money will be returned to you and any other unsuccessful Investor in full although the Issuer (not the Investor) will still have to bear these costs save for (v) above which is refundable.

Using Bank Transfers

Bank transfers can be made to the account/wallet designated for the Issuer’s offer, details of which will be available [on the Issuers deck on the TokenMarket Platform and on the payment page you are directed to as part of the investment process ]

The fees payable for bank transfers will be:

  • A minimum fee of £1.00 for investments up to £[ ]; or
  • A fee equal to 0.03% for investments over £[ ].

If the Offer is successful, these fees will be deducted from the amounts payable to the Issuer but it will not affect the number of tokens to be issued to you and any other successful Investor. If the Offer is unsuccessful, these fees will be deducted from the amount repaid to the Investor. Any refunds will take 1-3 days to be recredited to your and any other unsuccessful Investors account after an Offer has been terminated or the investment is deemed unsuccessful.

Funds Flow

NOTE that funds will not be held by by TokenMarket but by PaySafe or Clear Junction. Funds will only be transferred to the Issuer or to meet fees relating to the Offer (including those of TokenMarket) if TokenMarket confirms to Clear Junction or PaySafe, as the case may be, that all of the conditions to the Issuer’s offer have been met. If the conditions are not met either payment will not be taken from your card (if they have not been transferred already) or, in relation to funds already transferred to Clear Junction’s or PaySafe’s client accounts, returned to you less any transfer charges as outlined above.

The funds paid for by card will immediately display as paid in your account on the TokenMarket platform.

If you deposit funds to the Clear Junction account by bank transfer, you will need to instruct an electronic transfer from your bank using the details provided. Unlike with payments made by card, these funds will only display in your TokenMarket account once they have been received into our Clear Junction client money account – you’ll receive a notification when this has happened.

Please note that while your money is held by Clear Junction or PaySafe, such funds will not be treated as client money held by TokenMarket under Financial Conduct Authority (FCA) Client Assets Source book rules.

Neither TokenMarket nor the Issuer itself will charge you any fees for payment or deposit processing. However, you will pay (a) any bank credit or debit card transfer charges on your side to ensure that the full intended amount reaches our payment service providers; and (b) in the circumstances outlined above, any bank charges incurred by Clear Junction should the money need to be transferred back to you