Alt is creating a more secure Auction for everyone! Find out how our latest round of small, but impactful changes will help out all of us when bidding:

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Banking and Payment Requirements

1. For users who want to bid on items that are valued over $10,000, they will need to have an approved bank account added to their file
   • This will also be applicable if the sum total of your bids is over $10,000 in any given auction cycle
   • A user can connect with a US, EU, or Canadian bank account. Any user with a bank account that is not listed should contact our Collector Support team.
2. We will continue to require all new users to add a preferred payment on file in order to place a bid in Alt Auctions
3. All users will have the opportunity to update their payment or use their preferred payment method at the time of checkout (which we’ve recently updated to be even more user-friendly!)

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Change in Payment Period from 7 days to 5 days

1. Users who win cards in Auctions will now have a five day payment period to complete their checkout
2. Any users who do not initiate checkout within the payment period will have their checkout initiated by Alt and their payment method saved on file will be charged
3. With our new checkout flow, paying for multiple cards at a time is easier than ever!
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Why are we doing this?

At Alt, we’re all collectors as well, and we see the impact that shill bidding and unpaid items have on our hobby and the cards you love. By increasing the integrity of our Auctions, we hope to reduce any uncertainty and reward good actors by creating the most secure auction experience for everyone. These changes will help buyers know they’re bidding in a secure environment and will help sellers get paid out faster!

As always, our dedicated Collector Support team is here answer any of your questions regarding this change. Email them at support@alt.xyz.

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FAQ:

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What if I don’t bid on anything over $10,000?

If you are a new user, you will still be required to add a preferred payment method to your account to bid in our Auctions. This can be a bank account, credit card, or other method available through our Stripe system.

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Why change from a 7 day payment period to a 5 day payment period?

We are shortening the time span to reduce the risk of unpaid or rerunning items, which in turn creates a healthier marketplace for buyers and sellers. This should get sellers paid out fast and gets the cards in buyer’s vaults faster. As always, our team is happy to work with you should you need more time to complete the checkout on your Auction winnings, just reach out to us to set up a plan.

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What happens if I do not add a bank account?

You will be blocked from placing the bid. If it is due to a technical issue or because of an unsupported banking type, our Collector Support team will be able to help you quickly establish a method to resume bidding in the Auction!

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Can I change my preferred payment method at any time?

Currently, you are able change your payment method when you go through our checkout flow following the close of the Auction. During this time, you’ll have the chance to add or modify your payment type or utilize any of our other payment methods such as Wire Transfer, Pay by Consignment, or get a Payment Plan on larger cards.

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What if I have an unsupported Bank Account?

Our Collector Support team will be able to assist you if you experience any issues with adding a bank account, simply reach out to them and they’ll get it resolved!

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Questions? Reach out to our dedicated Collector Support team at support@alt.xyz.

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