Refund and Cancellation Policy

  1. Scope: This policy applies to fees/charges collected by Finverse Platform Private Limited (“FPPL”P) towards (i) account opening (trading and/or commodities and/or depository participant account, as applicable) and (ii) any other services offered by FPPL where a specific fee is paid upfront.
  2. Definitions
     a) “Complete Application” means FPPL has received all information and documents required to process the account opening request, including successful completion of KYC, IPV/VIPV (where applicable), e-sign/e-mandates (if applicable), and payment confirmation.
    b)     “Activation” means issuance of client credentials/client code and enabling access to the account for the relevant service(s), subject to regulatory/operational checks.
  3. Account Opening Fees - General Rule
     Unless expressly stated otherwise in writing, account opening fees are non-refundable as they cover initiation costs such as KYC/IPV, verification, e-signing, data entry, and operational overheads, even if the account is not ultimately activated.
  4. Refunds in Specific Scenarios: FPPL may process refunds in the following limited cases:
  1. Delay by FPPL after Complete Application: If FPPL does not complete the account opening/activation within 30 (thirty) days from receipt of a Complete Application, the client may request a refund of the account opening fee (if applicable and paid to FFPL), unless the delay is due to (i) incomplete/incorrect information, (ii) failure of KYC/IPV/VIPV, (iii) client non-responsiveness, or (iv) regulatory/third-party dependencies outside FPPL’s reasonable control.
  2. Duplicate Payment: If a client has paid the same fee multiple times for the same request, FPPL will refund the duplicate amount(s) after verification.
  3. Rejection / Inability to Proceed: Where FPPL is unable to proceed with account opening due to regulatory restrictions, failed verification, or other compliance reasons, FPPL may, at its discretion and to the extent permitted by law, refund the fee net of non-recoverable third-party/verification charges (if any) already incurred for the client’s onboarding.
  1. How to Request a Refund
     Refund requests must be raised by [] with transaction details (UTR/reference number), registered mobile/email, and reason for the request. FPPL may require additional information for verification.
  2. Refund Processing Timeline & Mode
  1. If approved, FPPL will initiate the refund within 15 business days.
  2. Refunds will be processed to the original payment source (bank account/card/UPI) as per applicable banking/payment gateway rules.
  3. Actual credit timelines may vary depending on the client’s bank/payment gateway; FPPL will provide the refund reference where applicable.
  1. Taxes / Charges
     Fees may be inclusive/exclusive of applicable taxes (including GST) as indicated at the time of payment. Any refund of taxes, if applicable, will be processed in accordance with applicable tax laws.
  2. No Cash Refunds
     FPPL does not process cash refunds.
  3. Policy Changes
    FPPL may update this policy from time to time. The latest version will be available on FPPL’s website.