Refund Policy

Buildwealth Technologies Private Limited (referred as BW) offers multiple products on their platform and all products listed under a particular category may not have the same refund policy. For all products, the refund policy “IF” provided on the product page shall prevail over the general refund policy. Do refer the respective product refund policy on the product page for any exceptions to this returns policy and the table below.

Mutual Funds:

For transactions which have not been reported to the AMCs, the refund is done as per the payment gateway refund policy. Usually it takes 3-7 business days for refund. The refund duration also depends on the payment mode used to make the transaction. No charges are deducted from the refund amount and the refund amount is refunded in the payment source used during transaction unless in exceptional cases.

For transaction sent to AMC , the AMC refunds directly to the bank account submitted by user on the BW platform. In case of issue of NEFT/RTGS, AMC issues a cheque in the name of the user and it is sent to user’s address as per the KYC records.

Insurance:

For transactions which have not been sent to the Insurance company, the refund is done as per the payment gateway refund policy. Usually it takes 3-7 business days for refund. The refund duration also depends on payment mode used to make the transaction. No charges are deducted from the refund amount and it is refunded back to the payment source used during transaction unless in case of an exception.

For payment done directly via the insurance company’s payment gateway, the refund will be done as per the payment gateway policy of the insurance company.

For policy rejection cases, the insurance company can refund the payment directly to user bank account, through payment gateway used by insurance co or through refund dashboard provided by BW payment gateway provider. Please note that the policy rejection can happen as later as 20 days from the issuance of the policy.