Refund Policy
Wealth Infoline Services Private Limited offers various products on their platform, each with its own refund policy. The specific refund policy outlined on the product page takes precedence over the general refund policy. Please refer to the respective product page for any exceptions to this policy and the table below.
Insurance:
Transactions Not Sent to Insurance Company: Refunds follow the payment gateway refund policy, typically taking 3-7 business days. The refund period may vary based on the payment method used. No charges are deducted, and the amount is refunded to the original payment source unless otherwise specified.
Payments Made via Insurance Company’s Gateway: Refunds are processed according to the insurance company’s payment gateway policy.
Policy Rejections: The insurance company may refund the payment directly to the user’s bank account, through the payment gateway, or via the refund dashboard provided by Wealth Infoline’s payment gateway provider. Note that policy rejections can occur up to 20 days after policy issuance.
Mutual Funds:
Transactions Not Reported to AMCs: Refunds follow the payment gateway refund policy, typically taking 3-7 business days. The refund period may vary based on the payment method used. No charges are deducted, and the amount is refunded to the original payment source unless otherwise specified.
Transactions Sent to AMCs: AMCs refund directly to the bank account provided by the user on the Wealth Infoline platform. In cases of NEFT/RTGS issues, the AMC issues a cheque in the user’s name, sent to the address on KYC records.
Private Shares, Debentures, and Bonds:
Transactions Where Payment Is Not Received by the Merchant/Seller: Refunds follow the payment gateway refund policy.
Incorrect Demat Account Transactions: If the destination demat account is incorrect, inactive, or does not match the payer’s name, or if settlement cannot be completed due to technical reasons, the money is refunded to the source account, typically taking 3-7 business days. No charges are deducted, and the amount is refunded to the original payment source.
Settled Securities: No refund or cancellation is possible once securities have been settled in the beneficiary demat account.
Partner’s Refund Policy:
Client Refunds: For all transactions through Wealth Infoline platform for partner’s clients, the client refund policy will apply.
Partner Empanelment Fees/Feature Charges: Partners are required to pay a non-refundable, one-time empanelment fee. For additional charges for special services, the product-specific refund policy applies. Charges are deducted based on the duration the feature was used. Refunds are processed directly to the partner’s bank account or via UPI handle provided by the partner.