Refund and Cancellation Policy

At Micromoney, we prioritize exceptional customer support and have established a flexible cancellation policy to address various scenarios. The main elements of this policy are outlined below:

Handling Chargeback Claims

  • Users must contact Micromoney immediately if they wish to initiate a chargeback claim, providing all necessary details for the request.
  • If a refund is warranted, it will be managed solely by Micromoney through appropriate channels such as payment gateways or demand drafts.
  • Users are not permitted to seek refunds or chargebacks directly from the Payment Service Providers.

Addressing Fraudulent or Duplicate Transactions

  • In cases of fraudulent transactions due to unauthorized use of card or bank details, users should report directly to Micromoney.
  • Micromoney will manage these claims in alignment with our internal procedures and guidelines.

REFUND FOR EXCESS/DOUBLE PAYMENT(S)

  • Any excess payment, duplicate transaction, or double deduction due to NACH and manual payment, or any other reason, shall be refunded to the source bank account within 7 (seven) working days from the date of payment or date of customer’s information, whichever is later.

GUIDELINE FOR MANUAL PAYMENTS

  • Customers intending to make a manual payment are advised to do so at least 48 hours prior to the scheduled NACH debit, as E-Mandate details are automatically shared with the bank 24 hours before the scheduled debit time.

Cooling-Off Period

  • Borrowers benefit from a 3-day cooling-off period, during which they can prepay their loan without incurring any penalties.

This policy demonstrates our commitment to transparency and customer satisfaction in resolving cancellation, refund, and fraudulent transaction issues