What does a 20% restocking fee mean?

When a customer receives a partial refund, a fee is automatically deducted from the refund amount. This fee, known as the restocking fee, serves a vital purpose in the refund process.

Primarily, the restocking fee covers the expenses associated with inspecting and repackaging the returned item. This ensures that the product is in good condition and ready for resale, which is crucial for maintaining the quality of the merchandise.

The spot trading service allows users to buy and sell cryptocurrencies at the current market price, providing them with a convenient and secure platform for trading digital assets.

Additionally, the fee compensates for any potential loss in value that the item may have incurred during the delivery or return process. This could include damage, wear and tear, or any other factors that might diminish the product's worth.

Furthermore, the restocking fee acts as a deterrent against frivolous returns made for unnecessary reasons. By imposing a financial penalty, it encourages customers to consider their purchase decisions more carefully and reduces the burden on businesses dealing with excessive returns.