SendMoney360 Refund Policy

Effective Date: June 11, 2024

1. Introduction

SendMoney360 Limited ("SendMoney360," "we," "us," or "our") is committed to providing transparent, secure, and reliable international money transfer services through our platform at www.sendmoney360.com (the "Service"). This Refund Policy outlines the conditions, procedures, and limitations under which refunds may be issued for transactions initiated via our Service. It is designed to ensure fairness, compliance with global regulatory requirements, and clarity for all users.

This policy applies to all customers ("you" or "Customer") who use our Service, whether individuals or businesses, regardless of their location. By using the Service, you agree to be bound by this Refund Policy, which forms part of our broader Customer Agreement, Privacy Policy, and Cookie Policy. This policy is legally binding and governs your rights and obligations regarding refunds, cancellations, and related disputes.

We operate in compliance with international laws and regulations, including but not limited to the General Data Protection Regulation (GDPR) in the European Union, the UK GDPR, the California Consumer Privacy Act (CCPA) as amended by the California Privacy Rights Act (CPRA), Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA), the U.S. Financial Crimes Enforcement Network (FinCEN) regulations, the UK Financial Conduct Authority (FCA) rules, the EU Payment Services Directive (PSD2), and global anti-money laundering (AML) and know-your-customer (KYC) requirements. This Refund Policy reflects these standards to protect both our customers and our platform.

If you have questions about this policy, please contact our refund team using the details in Section 17.

2. Definitions

For the purposes of this Refund Policy, the following terms have the meanings set forth below:

Business Day: Any day other than Saturday, Sunday, or a public holiday in the United Kingdom, unless otherwise specified.
Cancellation: The act of voiding a Transaction before it is processed or completed.
Chargeback: A demand by a payment card issuer to reverse a Transaction, typically initiated by the cardholder.
Customer: An individual or entity that uses the Service to initiate a Transaction.
Processing Fee: A fee charged by SendMoney360 or a Third-Party Provider to cover administrative or operational costs.
Refund: The return of funds to the Customer’s original payment method or an alternative method, as approved by SendMoney360.
Reversal: The act of undoing a Transaction after it has been processed but before funds are disbursed to the recipient.
Service: The money transfer, currency exchange, and related financial services provided by SendMoney360.
Third-Party Provider: External entities, such as banks, payment processors, or KYC/AML service providers, engaged to facilitate the Service.
Transaction: A money transfer or currency exchange initiated through the Service.
Transaction ID: A unique identifier assigned to each Transaction for tracking purposes.

3. Eligibility for Refunds

Refunds are issued at SendMoney360’s discretion, subject to the conditions outlined below. We aim to process refund requests fairly while adhering to legal and regulatory obligations.

3.1 Circumstances Where Refunds May Be Granted

You may be eligible for a refund in the following situations:

Duplicate Transactions: If you accidentally initiate multiple identical Transactions due to a technical error or user mistake, provided the duplicate Transaction has not been completed.
Failed Delivery: If funds are not delivered to the recipient due to a failure on our part or our Third-Party Providers, and the issue is not caused by incorrect recipient details provided by you.
Unauthorized Transactions: If a Transaction is initiated without your consent due to fraud, identity theft, or a security breach, subject to verification and timely reporting (see Section 8).
Technical Errors: If a Transaction fails due to a verifiable error in our system (e.g., software malfunction), provided you notify us promptly.
Regulatory Refunds: If a refund is required by applicable law, such as under PSD2 for unauthorized or defective Transactions in the EU/EEA.

3.2 Circumstances Where Refunds Will Not Be Granted

Refunds will not be issued in the following cases:

Completed Transactions: If funds have been successfully delivered to the recipient’s account or wallet and the recipient has been verified.
User Error: If the Transaction fails due to incorrect or incomplete recipient details (e.g., wrong bank account number or email address) provided by you.
Fraudulent Activity: If we determine that the Transaction was initiated as part of fraudulent or illegal activity, including money laundering or terrorist financing.
Change of Mind: If you request a refund simply because you no longer wish to complete the Transaction after it has been processed.
Third-Party Issues: If the Transaction fails due to issues beyond our control, such as recipient bank policies, sanctions, or intermediary bank errors.
Non-Refundable Transactions: Certain Transactions, such as real-time transfers or cryptocurrency payments, are non-refundable (see Section 11).

3.3 Supporting Documentation

To process a refund request, you must provide:

Transaction ID or reference number.
Proof of payment (e.g., bank statement or card transaction receipt).
Details of the issue (e.g., error message, recipient confirmation of non-delivery).
For unauthorized Transactions, evidence of fraud or identity theft (e.g., police report, account security logs).
Any additional documentation requested by our compliance team to verify the claim.

Failure to provide required documentation may result in the denial of your refund request.

4. Timeframe for Refund Requests

4.1 Standard Time Limits

You must submit a refund request within the following timeframes:

General Issues: Within seventy-two (72) hours of the Transaction date for issues like duplicate payments or technical errors.
Unauthorized Transactions: Within forty-eight (48) hours of discovering the unauthorized Transaction, and no later than thirteen (13) months from the Transaction date, as required by PSD2 for EU/EEA customers.
Failed Delivery: Within seven (7) Business Days of the expected delivery date, provided you can demonstrate non-delivery.

4.2 Exceptions

We may consider late refund requests in exceptional circumstances, such as:

Delayed Processing: If a Transaction is delayed due to our systems or Third-Party Providers, and you notify us promptly upon discovery.
Regulatory Requirements: If applicable law (e.g., CCPA, GDPR, or FCA rules) mandates a longer timeframe for submitting claims.
Fraud Investigations: If a refund request involves fraud or identity theft, we may extend the timeframe to allow for investigation, subject to Section 8.

Requests submitted outside the specified timeframes may be denied unless required by law.

5. Refund Process

5.1 Submitting a Refund Request

To request a refund, follow these steps:

Contact Us: Submit your request via:
- Email: support@sendmoney360.com
- Online Form: Available in your Account dashboard under “Support” > “Refund Request.”
- Phone: +44 20 1234 5678 (Monday–Friday, 9:00 AM–5:00 PM GMT).
Provide Information: Include the following details:
- Full name and Account email address.
- Transaction ID or reference number.
- Date and amount of the Transaction.
- Reason for the refund request.
- Supporting documentation (see Section 3.3).
Confirmation: You will receive an acknowledgment email with a case number within one (1) Business Day.

5.2 Review Procedures

Our refund team, in coordination with our compliance and support teams, will:

Verify the Transaction details using our internal records.
Review supporting documentation for completeness and authenticity.
Conduct KYC/AML checks, if necessary, to ensure compliance with regulatory requirements.
Assess eligibility based on this Refund Policy and applicable laws.

We may contact you for additional information or clarification during the review process.

5.3 Response Time

We aim to respond to refund requests within five (5) Business Days of receiving all required information. Complex cases, such as those involving fraud or regulatory investigations, may take up to thirty (30) days. You will be notified of any delays and provided with an estimated resolution timeline.

6. Processing Time for Refunds

6.1 Typical Processing Duration

If a refund is approved, funds will be returned within:

Standard Refunds: Five to ten (5–10) Business Days from approval, depending on the payment method and Third-Party Provider.
Urgent Cases: Three (3) Business Days for unauthorized Transactions or regulatory-mandated refunds, where feasible.

6.2 Impact of Third-Party Providers

Processing times may be affected by:

Bank Policies: Some banks may take additional days to credit funds to your account.
Payment Processors: Providers like Stripe or PayPal may impose their own processing timelines.
International Transfers: Cross-border refunds may involve intermediary banks, which can extend processing times.

We will provide tracking information for approved refunds and notify you once funds are disbursed.

7. Refund Fees and Deductions

7.1 Administrative Fees

We may deduct a Processing Fee to cover administrative costs, such as:

Standard Fee: Up to £10 (or equivalent in your currency) for approved refunds, unless prohibited by law (e.g., PSD2 for unauthorized Transactions).
Complex Cases: Up to £25 for refunds requiring extensive investigation or compliance checks.

Fees will be disclosed before the refund is processed.

7.2 Currency Exchange Implications

For Transactions involving currency conversion:

Refunds will be issued in the original Transaction currency, converted back to your payment method’s currency at the prevailing exchange rate.
You bear the risk of exchange rate fluctuations, and we are not liable for losses due to rate changes.

7.3 Network or Intermediary Bank Charges

Third-Party Providers or intermediary banks may deduct fees for processing refunds. These fees are beyond our control and will be subtracted from the refund amount, as disclosed during the refund process.

8. Refunds for Fraud, Scam, or Identity Theft

8.1 Conditions for Refunds

We take fraud, scams, and identity theft seriously and will consider refunds in the following cases:

Unauthorized Transactions: If a Transaction was initiated without your consent due to compromised Account credentials or identity theft, provided you notify us within forty-eight (48) hours of discovery.
Scams: If you were deceived into initiating a Transaction (e.g., phishing or social engineering), subject to investigation and verification.
System Breaches: If a Transaction results from a security breach in our systems, we will refund the full amount, including Fees, as required by law.

8.2 Cooperation with Law Enforcement

You must:

Report the incident to local law enforcement and provide a police report or case number.
Cooperate fully with our investigation, including providing evidence of the fraud or scam.
Secure your Account (e.g., change passwords, enable two-factor authentication) to prevent further unauthorized access.

We may share information with law enforcement or regulatory authorities, as required by FinCEN, FCA, or other regulations.

8.3 Obligation to Report Immediately

Failure to report unauthorized Transactions within forty-eight (48) hours may limit your eligibility for a refund, except where extended timelines apply under PSD2 or other laws.

9. Chargebacks and Disputes

9.1 Unauthorized Card Disputes

If you initiate a Chargeback with your card issuer without first contacting us, we may:

Dispute the Chargeback by providing evidence of the Transaction’s legitimacy.
Suspend your Account pending resolution, as Chargebacks may indicate fraud or misuse.
Deduct any costs incurred (e.g., Chargeback fees) from your Account balance, if applicable.

9.2 Customer Responsibilities

You agree to:

Attempt to resolve disputes directly with us before filing a Chargeback.
Provide accurate information to your card issuer if a Chargeback is initiated.
Accept responsibility for Chargeback fees if the dispute is resolved in our favor.

9.3 Impact on Future Service Access

Repeated Chargebacks or unfounded disputes may result in Account suspension or termination, as outlined in our Customer Agreement.

10. Cancelled Transactions

10.1 Voluntary Cancellations

You may request to cancel a Transaction before it is processed, provided:

The Transaction has not been completed or funds have not been disbursed to the recipient.
You submit the cancellation request via your Account or by contacting support@sendmoney360.com
You pay any applicable Processing Fees, as disclosed.

10.2 Involuntary Cancellations

We may cancel a Transaction without your request if:

It fails KYC/AML checks or violates sanctions or regulatory requirements.
A technical error prevents processing (e.g., system outage).
The recipient’s account is unavailable or cannot accept funds.

In such cases, we will refund the Transaction amount, minus any Fees or deductions, within ten (10) Business Days.

11. Non-Refundable Transactions

Certain Transactions are non-refundable, including:

Real-Time Transfers: Transactions processed instantly (e.g., via Faster Payments or SEPA Instant Credit Transfer) and delivered to the recipient.
Completed Payments: Funds successfully delivered to a verified recipient’s account or wallet.
Cryptocurrency Transactions: Transfers involving cryptocurrencies, due to their irreversible nature.
Foreign Exchange Transactions: Currency conversions completed at your request, except in cases of technical error.

These restrictions align with industry standards and regulatory requirements for irrevocable payment systems.

12. Refund Method

12.1 Return to Original Payment Method

Approved refunds will be issued to the original payment method used for the Transaction (e.g., bank account, credit/debit card, or digital wallet), unless:

The payment method is no longer valid or accessible.
Regulatory requirements prohibit returning funds to the original source.

12.2 Alternative Arrangements

If the original payment method is unavailable, we may:

Issue a credit to your SendMoney360 Account wallet for future Transactions.
Arrange an alternative payment method (e.g., bank transfer to a different account), subject to verification.

12.3 Restrictions

We do not issue cash refunds or refunds to third-party accounts, except where required by law.

13. Customer Responsibilities

To ensure a smooth refund process, you agree to:

Submit Accurate Data: Provide complete and truthful information in your refund request, including Transaction details and supporting documentation.
Use the Service in Good Faith: Avoid initiating fraudulent or misleading refund requests, which may result in Account suspension or legal action.
Communicate Timely: Notify us promptly of any issues, such as unauthorized Transactions or failed deliveries, within the timeframes specified in Section 4.
Secure Your Account: Protect your login credentials and report any security breaches immediately to prevent unauthorized Transactions.

Failure to meet these responsibilities may result in the denial of your refund request.

14. Legal Compliance and Exceptions

14.1 Rights Reserved

We reserve the right to:

Deny refunds that violate this Refund Policy, our Customer Agreement, or applicable laws.
Withhold funds pending investigation of suspected fraud, money laundering, or other illegal activities, as required by FinCEN, FCA, or AML regulations.
Modify or delay refunds to comply with court orders, regulatory directives, or sanctions.

14.2 Compliance with Authorities

We may disclose Transaction or refund-related information to law enforcement, financial regulators, or other authorities, as required by law. Refunds may be delayed or denied if funds are subject to seizure, freezing, or other legal actions.

14.3 Exceptions

We will provide refunds beyond the scope of this policy if mandated by applicable consumer protection laws, such as:

PSD2 for unauthorized or defective Transactions in the EU/EEA.
CCPA/CPRA for California residents, where applicable.
FCA rules for UK customers, including protections under the Payment Services Regulations 2017.

15. Amendments to Refund Policy

We may update this Refund Policy to reflect changes in our practices, legal requirements, or Service offerings. Updates will be posted on our website with a revised “Effective Date” at least thirty (30) days before they take effect, unless immediate changes are required by law.

We will notify you of material changes via:

Email to your registered Account address.
A prominent notice in your Account dashboard.
A pop-up or banner on our website.

Your continued use of the Service after such changes constitutes acceptance of the updated Refund Policy. If you do not agree, you must stop using the Service and close your Account.

Version History:

June 11, 2024: Initial publication of the Refund Policy.
Future versions will be logged here with summaries of changes.

16. Governing Law and Jurisdiction

16.1 Governing Law

This Refund Policy is governed by the laws of England and Wales, without regard to conflict of law principles.

16.2 Jurisdiction

Any disputes arising from this Refund Policy will be subject to the exclusive jurisdiction of the courts of England and Wales, except where mandatory consumer protection laws in your jurisdiction apply. You agree to attempt informal resolution with us before escalating disputes to a court.

17. Contact Information

For refund requests or questions about this Refund Policy, please contact our refund team:

Email: support@sendmoney360.com
Mailing Address: SendMoney360 Limited, 123 Global Street, Suite 456, London, UK, EC2N 1AR
Phone: +44 20 1234 5678
Support Hours: Monday–Friday, 9:00 AM–5:00 PM GMT
Online Form: Available in your Account dashboard under “Support” > “Refund Request.”

Our customer support team is available to assist with refund inquiries and guide you through the process. We aim to respond to all inquiries within one (1) Business Day.

Thank you for choosing SendMoney360 for your international money transfer needs. We are committed to processing refund requests fairly and transparently in accordance with this Refund Policy.