Refund & Cancellation Policy

This Refund & Cancellation Policy governs all transactions made through Finwelco.com, operated by DMT Empire India Private Limited (“Company”, “We”, “Us”, or “Our”). By using our platform, you agree to this Policy.

General Policy

Finwelco.com acts as a distributor and facilitator for insurance products, mutual fund investments, BBPS bill payments, premium payments, and related financial services. The Company does not directly control third-party insurers, asset management companies (AMCs), banks, payment gateways, or billers. Accordingly, refunds are subject to the policies and approval of the respective service provider.

All transactions once successfully processed are considered final, unless expressly permitted under this Policy or under applicable law.

Insurance Products

Refunds for insurance premiums shall be governed strictly by the respective insurer’s cancellation and free-look period policy.

If a policy qualifies under the insurer’s free-look period, the refund (after applicable deductions, if any) will be processed directly by the insurer as per their terms. Finwelco.com shall not be responsible for underwriting decisions, policy cancellations, claim rejections, or refund timelines controlled by the insurer.

Mutual Fund Investments

Mutual fund investments are subject to market risks and are governed by SEBI regulations and AMC policies.

Redemption requests must be submitted as per the applicable cut-off timings and procedures. Refunds/redemption proceeds shall be credited directly by the respective Asset Management Company to the registered bank account of the investor.

Finwelco.com does not guarantee redemption timelines, NAV applicability, or investment returns.

BBPS Bill Payments & Premium Payments

Bill payments and premium payments made through BBPS or other payment channels are processed in real time through authorized banking networks.

No cancellation or refund shall be permitted once:

• The transaction has been successfully processed, and
• The amount has been credited to the biller or service provider.

In case of failed transactions where the amount is debited but not successfully processed, refunds (if applicable) shall be initiated automatically by the respective bank or payment gateway within 5–10 working days, subject to banking norms.

Failed or Duplicate Transactions

If a transaction fails but the amount is debited:

• The refund will be processed automatically by the bank or payment partner.
• The Company shall assist in raising a service request but is not liable for banking delays.

For duplicate payments due to user error, refund requests shall be subject to approval by the respective insurer, AMC, or biller. The Company does not guarantee reversal of duplicate transactions.

Service Charges & Convenience Fees

All platform fees, service charges, or convenience fees are non-refundable once a transaction is successfully processed, except in cases where:

• The transaction fails at the system level, and
• The service is not delivered due to a technical error attributable to the Company.

Incorrect Information Provided by User

The Company shall not be liable for refunds arising due to incorrect details entered by the user, including but not limited to:

• Wrong policy number, Incorrect biller account details, Incorrect investment details, Wrong mobile number or bank account

Users are solely responsible for verifying all information before confirming any transaction.

Processing Timelines

Refund timelines vary depending on: Banks, Payment gateways, Insurers, Asset Management Companies, Billers. The Company does not control external processing timelines and shall not be held liable for delays beyond its reasonable control.

Fraudulent or Suspicious Transactions

The Company reserves the right to withhold or decline refunds in cases of suspected fraud, misuse, or regulatory non-compliance.

Chargebacks & Disputes

Users are advised to contact Finwelco.com support before initiating chargebacks through banks. Unauthorized chargebacks may result in suspension of account access.

Limitation of Liability

To the maximum extent permitted by law, DMT Empire India Private Limited shall not be liable for indirect, incidental, or consequential losses. The Company’s maximum liability shall not exceed the amount of the specific transaction in dispute.