Today at 4:41 PM Zebpay sents an Announcement to there all user. Saying as “Zebpay Announcement About Your Rupee Balance”
The Announcement is mainly for the people who still have Indian Ruppe balance in there Zebpay account or wallet.
According to Zebpay,
Zebpay returning all pending Indian Ruppe balance to there user bank account by Zebpay will temporarily be closing INR related trading pairs on Wednesday 5 Sep 2018at 5 p.m. At that time, all pending orders involving INR pairs will be cancelled.
Zebpay – “Today we are announcing our intent to work with our bankers, and return all the money (Indian Rupee) that you have sent us for purposes of trading. Not doing so would make us feel like we are holding you hostage, and that is not a good feeling. When this happens, all your outstanding INR-related orders will be cancelled, and your rupees returned to your bank account. Please keep this in mind while deciding on your investment and trading strategy.”
Here are some questions you might have as a result of this announcement:
1. What About Customer’s Crypto in Zebpay Wallets?
Zebpay crypto wallets will continue to work, and you are welcome to hold your coins and tokens with us. Of course, if you want to withdraw (or deposit) crypto, you can always do it as you choose.
2. What About Crypto-to-Crypto Trading?
The entire discussion in this announcement relates to Fiat (INR) related activity. Crypto-to-Crypto trading will continue.
3. Can Customers Deposit Rupees Into Zebpay?
4. What Action Will Customers Have to Take to Withdraw Rupees?
None. If our banks support us, we intend to send back all the money to users without any specific action from them.
5. When Is All This Likely to Take Place?
In the interest of protecting our customers we want to do this at the earliest. For now, we will temporarily be closing INR related trading pairs at 5 p.m. on Wednesday 5 Sep 2018. At that time, all pending orders involving INR pairs will be cancelled. While it is not possible for us to speak on behalf of our banks, we intend to return your money to you as soon as possible after that.
6. To Which Bank Account Will the Money Be Returned?
To the bank account that customers listed with us.
7. What If a Customer Wants to Update Bank Account Details?
If it is absolutely necessary, then please send in your updated bank details right away. All changes submitted by 6 p.m. today (Tue 4 Sep 2018) will be updated before we process any withdrawals.
Zebpay CEO also made a video on this topic.
You can watch a video from our CEO in English on youtube
You can watch a video from our CEO in Hindi on youtube
The Future of Zebpay?
You can see this email in 2 ways.
- Zebpay is transferring all pending money to there user bank account.
- Zebpay is preparing to close there exchange?