How to deposit XLM and XRP duly?
Some cryptocurrencies like Stellar or Ripple require a Memo ID (also often called "payment ID") to be deposited correctly on BitBay.
What is Memo ID?
It's your unique account deposit ID for XLM deposits. It's necessary to account your Lumens deposit correctly. Without Memo ID we are unable to identify a recipient of deposit.
What happens when you forget to use Memo ID?
If you deposit XLM, XMR or XRP without it, cryptocurrencies end up on the main wallet address which makes it impossible to account them on your wallet automatically; this leads to severe difficulties in retrieving funds.
If you happen to deposit without Memo ID, you must know that accounting may take up to 60 days. In addition, a handling fee of 20% of the deposit will be charged.
Always remember to use your Memo ID for your cryptocurrencies be accounted duly on your account.