Cancellation and refund policy

Last updated: 08-11-2026

This policy explains what happens to your money when an order is cancelled or not completed. It forms part of our terms, and you accept it when you place an order. Please read it before you pay.

1. The booking deposit

A rate is locked only when money is received: either the full amount paid online, or a booking deposit of 2% of the order amount paid online (UPI or card, so it reaches us at once). The deposit locks your rate for 36 hours. This follows the bank's T+2 settlement: a deal booked on a working day before 3 pm counts that day as day 0, a later or holiday booking counts from the next working day, and Saturdays, Sundays and bank holidays (Maharashtra; Tamil Nadu for transfers through our Chennai-based partner; US bank holidays for transfers in US dollars) are not counted. The exact expiry date and time is shown on your order page and in our e-mail. As soon as the deposit is received we book and take delivery of the currency for you from our bank at that rate, paying for it from our own working-capital facility, and we hold it for you at the locked rate from that moment. The deposit is therefore earnest money that secures your booking: it is not adjusted against your bill, and it is refunded or retained only as set out below. If you choose Pay later, nothing is paid and the rate is not locked.

1.1 When the deposit is refunded

• Order completed: refunded in full to the account or card it came from, within 2 working days of completion (for sell and encash orders, with your payout). An order is completed when the currency or card is handed over and accepted, when the transfer request is accepted by the authorised dealer, or, for sell and encash orders, when your payout is made.
• Order cancelled by us (see section 3): refunded in full.

1.2 When the deposit is retained

The deposit is retained in full and is not refunded when the order is not completed within the rate-hold time for any reason on your side, including:

• you cancel the order, for any reason — including a change, postponement or cancellation of your trip, course or plans;
• the full order amount is not received from your own account within 36 hours of the deposit;
• the currency, card or documents are not handed over (sell and encash orders) within the rate-hold time;
• the documents the law requires are not given in time, are incomplete, expired, forged or do not match the details you entered, so that KYC cannot be completed;
• the traveller is not available, or cannot be reached, for delivery or collection after our confirmation call;
• the wrong product, currency, amount or purpose was chosen, or the details given were incorrect;
• payment came from someone else's account and no payment from your own account follows within the rate-hold time;
• the order cannot lawfully be completed because of a restriction that applies to you and that you knew or should have known about — for example your LRS limit is already used up, or the destination or purpose is not permitted under FEMA.

If we decline an order on our own compliance judgement — a sanctions or PEP screening result, a source-of-funds concern or a risk decision — that is a cancellation by us (section 3) and the deposit is refunded.

Why the deposit is retained. The currency booked for you has already been bought and paid for. When your order is not completed we do not return it to the bank — we hold it, funded on interest, until it is sold to another customer, and we carry the movement in the exchange rate for that whole period. The deposit is a pre-agreed estimate of that cost of carrying the currency (interest until resale and the rate movement in that time), retained as liquidated damages under section 74 of the Indian Contract Act, 1872. It is not a cancellation charge or a penalty, and it is disclosed to you on the order page before you pay. We may, at our sole discretion, allow a lapsed order to continue at the current rate instead; we are not obliged to.

A payment-gateway charge paid on the deposit (net banking or Visa / Mastercard cards) is never refunded. UPI and bank transfer are free.

Paying by UPI QR. When you pay the booking deposit or the order amount by scanning our UPI QR, your rate is held from the moment you enter the 12-digit UPI reference (UTR) on your order page, for 36 hours. We then confirm that the money has reached our account from an account in your name. If no matching credit is found, the hold is released and the order goes back to the live rate. The amount shown for UPI is valid for 30 minutes. UPI payments are accepted only from your own bank account: a payment made with a credit card or a credit line linked to UPI is not accepted, and is refunded to the source it came from (the rate is not held for it).

2. Orders paid in full

Our service charges are not refundable. Once paid, the service charge on currency notes (which includes doorstep delivery or pickup), the forex card issue, reload or encashment charge, and the GST on them are not refunded if you cancel, if a delivery is missed, or if the order is not completed for any reason on your side. They are refunded in full only when we cancel the order (section 3). These charges are shown separately in the order summary before you pay.

3. Orders cancelled by us

If we cannot complete your order for a reason on our side — a currency is out of stock and you do not accept a changed amount, an error by us, our systems or our delivery staff, the card issuer or remittance partner declining the transaction for a reason not attributable to you, or a change in law or regulation — every amount you have paid is refunded in full: the booking deposit, the order amount, our service charges, GST, TCS and any gateway charge, to the account or card it came from.

When we cancel, we bear the cost of carrying the currency we had bought for your order ourselves — the same cost that section 1.2 places on you when the order fails on your side. Nothing is deducted from you. This full refund is the full and final settlement of a cancelled order; to the extent permitted by law, no further interest, compensation, damages or costs are payable by us for a cancelled or late order.

Transfers and cards through our bank partners

Remittances and partner forex cards are booked with the bank or authorised dealer on your behalf. If such an order is not completed for a reason on your side after the booking is made, the cancellation or reversal charge the bank or authorised dealer actually levies on us is recovered from your deposit, and any amount above the deposit is payable by you on our demand with the partner's debit advice as proof. Where the partner itself declines the transaction for a reason not attributable to you, you are refunded in full and we take up the charge with the partner.

Refund timelines

We confirm every refund in writing with the amount and the deductions, if any, before it is made. We start a refund within 2 working days of the cancellation or completion that triggers it. UPI and bank transfers usually arrive within 2 working days; net banking up to 5–7 working days; debit cards up to 10 working days; credit cards up to 21 working days, depending on the card network. Refunds go only to the account or card the money came from — never in cash or to another person.

4. Forex card reloads and encashment

A reload cannot be cancelled once the issuer has credited the card. To get money back from a card, place an encashment request: the issuer pays the unused balance at its buying rate to your own bank account, usually within 5–10 working days of the request, once any pending card transactions have settled. Issuer fees for encashment, if any, are shown before you confirm.

5. Money transfers abroad

Booking deposit. To hold the exchange rate for your transfer (for 36 hours), you pay us the booking deposit of 2% of the transfer total, on the terms in section 1: refunded within 2 working days of the transfer being sent, retained (and any higher charge actually levied on us by the partner recovered) if the transfer does not go ahead for a reason on your side. The transfer amount itself is paid by you directly to our remittance partner (RBL Bank Ltd, Thomas Cook (India) Limited, Prithvi Exchange (India) Limited, EbixCash World Money Limited), never to us.

Overseas bank charges. We offer two options: OUR — you pay the sending and correspondent (intermediary) bank charges upfront; and BEN — all overseas charges are deducted from the amount sent. Even under OUR, the receiver's bank (beneficiary bank) may deduct its own incoming / receiving fee, and an additional intermediary bank may occasionally deduct a charge; if the receiving account is in a different currency, the receiving bank converts it at its own rate. These deductions are made by overseas banks outside our and our partner's control. GoRemit, Aabhushan Forex & Jewels Pvt Ltd and our partner cannot guarantee the exact amount credited abroad, and overseas deductions cannot be refunded.

Cancellations and refunds of the transfer amount are handled by the partner under its own policy, and once a SWIFT payment has been sent it can be recalled only through the partner and the receiving bank, with their charges.

6. How to cancel

Use the order tracking page, call +91 83569 24029 or email hello@goremit.in with your order number. You get a written confirmation with a reference number.