Refund Policy

1.1.

This Return, Reversal, and Refund Policy (“Policy”) sets out the terms and conditions governing cancellations, reversals, recalls, refunds, and disputed transactions relating to the payment, remittance, foreign exchange, wallet, payout, and related digital financial services provided by PayFarGo (“Company”, “we”, “our”, or “us”).

1.2.

As a provider of cross-border payment and remittance services, the Company processes transactions through banking institutions, payment processors, correspondent partners, settlement networks, and financial intermediaries across multiple jurisdictions. Due to the nature of financial transactions, not all payments are capable of being cancelled, reversed, or refunded once processing has commenced or settlement has occurred.

1.3.

This Policy explains:

• when refunds or reversals may be available;
• circumstances where requests may be declined;
• timelines for investigations and processing;
• customer responsibilities; and
• the procedures applicable to transaction disputes and payment recalls.

1.4.

By using the Company’s services, you acknowledge and agree to this Policy.

3.1.

This Policy applies to:

• international money transfers;
• remittance transactions;
• wallet funding;
• card-funded transactions;
• merchant payment transactions;
• foreign exchange transactions;
• payout services; and
• related digital payment services offered by the Company.

3.2.

This Policy does not override applicable law, regulatory obligations, payment network rules, or contractual obligations owed to banking or settlement partners.

4.1.

The Company shall use commercially reasonable efforts to process transactions accurately, investigate refund or reversal requests fairly, resolve disputes within reasonable timelines, and comply with applicable financial regulations. However, Customers acknowledge that:

• financial transactions may become irrevocable once processed;
• intermediary banks may impose independent restrictions or fees;
• exchange rate fluctuations may affect refund values; and
• legal or regulatory obligations may prevent refunds or reversals.

4.2.

Refunds and reversals are not guaranteed and remain subject to:

• transaction status;
• beneficiary institution cooperation;
• regulatory requirements; and
• fraud prevention procedures.

5.1.

The Company may consider refunds, reversals, or recalls under the following circumstances:

5.1.1. Duplicate Transactions

Where the Customer was incorrectly charged multiple times for the same transaction due to:

• system error;
• technical malfunction; or
• processing failure.

5.1.2. Failed or Unsuccessful Transactions

Where:

• the transaction failed to settle;
• the beneficiary institution rejected the payment;
• the transaction could not be completed; or
• funds were not delivered to the intended recipient.

5.1.3. Unauthorized Transactions

Where the Customer demonstrates that:

• the transaction was not authorized;
• account credentials were compromised;
• fraud occurred; or
• unlawful access to the Customer’s account was established.

The Company reserves the right to conduct investigations and request supporting evidence before processing any refund.

5.1.4. Incorrect Processing by the Company

Where the Company:

• processed an incorrect amount;
• sent funds to the wrong recipient due solely to the Company's error; or
• failed to execute the transaction in accordance with the Customer’s valid instructions.

5.1.5. Cancelled Transactions

A transaction may be cancelled where:

• processing has not commenced;
• settlement has not occurred; and
• no regulatory or compliance hold exists.

Cancellation requests are subject to operational feasibility.

6.1.

Refunds, reversals, or recalls may be denied where:

• the Customer provided incorrect recipient details;
• the transaction has been successfully completed and settled;
• the recipient has withdrawn or utilized the funds;
• the transaction violates applicable law or sanctions restrictions;
• fraud or suspicious activity is suspected;
• the Customer acted negligently or fraudulently;
• chargeback abuse is identified;
• delays arise from intermediary institutions; or
• the request is made outside applicable reporting timelines.

Foreign exchange losses, market fluctuations, and intermediary banking charges may also be non-refundable.

7.1.

Customers are responsible for:

• verifying beneficiary information before authorizing transactions;
• ensuring accuracy of account details;
• safeguarding login credentials and authentication devices;
• promptly reporting suspicious activity; and
• cooperating with investigations and information requests.

7.2.

The Company shall not be liable for losses arising from:

• Customer negligence;
• incorrect payment instructions;
• unauthorized access resulting from Customer misconduct; or
• delays attributable to third-party institutions.

8.1. Submission of Requests

Customers seeking a refund, reversal, or recall must submit a request through approved channels, including:

8.2. Required Information

9.1.

Upon receipt of a request, the Company may:

• review transaction records;
• conduct fraud and compliance checks;
• liaise with banking and payment partners;
• contact beneficiary institutions; and
• request additional information from the Customer.

9.2.

Investigation timelines may vary depending on:

• transaction complexity;
• jurisdiction;
• banking network involvement; and
• regulatory requirements.

10.1.

While timelines may vary depending on transaction type and jurisdiction, the Company shall use commercially reasonable efforts to process:

• acknowledgment of requests within 3 Business Days;
• preliminary reviews within 7 Business Days; and
• eligible refunds or reversals within a reasonable period after approval.

10.2.

Cross-border recalls and interbank investigations may require extended processing times. The Company shall not be liable for delays caused by:

• correspondent banks;
• payment networks;
• regulators;
• sanctions reviews; or
• intermediary institutions.

11.1.

Where transactions are funded using debit or credit cards, Customers may have chargeback rights through their card issuer or payment network.

11.2.

The Company reserves the right to:

• challenge invalid chargebacks;
• suspend accounts associated with abusive chargeback activity; and
• recover losses arising from fraudulent disputes.

11.3.

Chargebacks initiated without first contacting the Company may delay resolution.

12.1.

For transactions involving currency conversion:

• Exchange rates may fluctuate between transaction initiation and refund processing.
• Refunds may be processed at prevailing market rates; and
• intermediary deductions or conversion losses may apply.

12.2.

The Company shall not be liable for losses arising from exchange rate fluctuations.

13.1.

The Company may refuse, delay, freeze, or withhold refunds where:

• anti-money laundering (“AML”) concerns arise;
• sanctions screening issues are identified;
• fraud investigations are pending;
• regulatory reporting obligations apply; or
• law enforcement instructions are received.

13.2.

The Company reserves the right to report suspicious transactions to competent authorities in accordance with applicable law.

14.1.

The Company shall not process refunds or reversals involving:

• sanctioned jurisdictions;
• prohibited persons;
• unlawful activities;
• terrorist financing;
• fraudulent schemes; or
• transactions prohibited under applicable law.

15.1.

To the fullest extent permitted by law, the Company shall not be liable for:

• indirect or consequential losses;
• foreign exchange losses;
• delays caused by third parties;
• intermediary banking deductions;
• regulatory restrictions;
• force majeure events; or
• losses resulting from Customer error or negligence.

15.2.

The Company’s total liability relating to any transaction shall not exceed the original transaction amount actually received by the Company, except where otherwise required by law.

16.1.

Customers dissatisfied with the handling of a refund or reversal request may submit a formal complaint through:

16.2.

The Company shall investigate complaints fairly and communicate outcomes within a reasonable timeframe. Where applicable, Customers may escalate unresolved disputes to:

• financial regulators;
• payment scheme dispute bodies;
• financial ombudsman services; or
• competent courts or arbitration forums.

17.1.

The Company processes personal information in accordance with applicable data protection laws, including principles reflected under the General Data Protection Regulation. Information collected during refund investigations may be shared with:

• banking partners;
• payment processors;
• fraud prevention agencies;
• regulators; and
• law enforcement authorities where legally required.

18.1.

The Company reserves the right to amend this Policy periodically to reflect:

• legal developments;
• regulatory requirements;
• operational changes;
• technological developments; or
• risk management practices.

18.2.

Updated versions shall be published on the Company’s website and shall become effective upon publication unless otherwise stated.

19.1.

For questions relating to this Policy, Customers may contact:

20.1.

This Policy shall be governed by and construed in accordance with the laws of the Remittance Transfer Rule (part of Regulation E), which implements the Electronic Fund Transfer Act (EFTA), the Payment Services Directive (PSD2), and any other applicable law that may come into force or is already in existence at the time that this policy is being drafted.

20.2.

Any disputes arising in connection with this Policy shall be subject to the jurisdiction of the competent courts or dispute resolution bodies designated under applicable law.