Cancellation & Refund Policy

GGS Forex provides regulated foreign exchange and travel-related services where certain transactions may involve immediate currency conversion, settlement with banks or third-party providers, issuance of financial instruments, insurance policies or activation of digital services.

Accordingly, cancellation and refund eligibility depends on:

• The type of service purchased
• Whether the transaction has been executed
• Whether currency has been converted
• Whether the service has been issued or activated
• Whether a third-party provider has processed the order
• Applicable regulatory requirements
• The reason for cancellation
• Payment and settlement status

Where a transaction has been completed, executed, issued, delivered or activated, it may not be cancellable or refundable except where required by applicable law or specifically permitted under this Policy.

2.1 Before Execution

A customer may request cancellation of a currency exchange order before the transaction is executed or currency conversion has taken place.

Where cancellation is approved:

• A cancellation charge of 2% of the transaction amount may apply.
• Applicable taxes, bank charges or third-party charges may also be deducted where applicable.
• The remaining eligible amount will be refunded through an approved payment method.
• Cancellation requests must be raised immediately through our designated support channel.

A booking or rate request does not guarantee that cancellation will remain available until the customer contacts us. Once execution has commenced, the transaction may become non-cancellable.

2.2 After Execution

Once a foreign exchange transaction has been executed, converted, settled, delivered or collected:

Cancellation will generally not be permitted.

The following will generally not constitute grounds for cancellation:

• Change in travel plans
• Change in destination
• Change in exchange rate
• Customer's personal circumstances
• Customer no longer requiring the currency
• Failure to travel after purchasing currency

Any exception will be subject to applicable law and the specific circumstances of the transaction.

Once foreign currency has been:

• Delivered to the customer,
• Collected by the customer,
• Released after successful identity verification, or
• Otherwise transferred into the customer's possession,

the transaction will generally be treated as completed.

Refunds will not ordinarily be available merely because the customer subsequently changes their travel plans or no longer requires the currency.

Any return, repurchase or exchange of foreign currency, where legally and operationally permitted, may be treated as a new transaction and may be subject to the prevailing rate and applicable charges.

A refund or reversal may be considered where:

• A transaction failed due to a GGS Forex system or operational error.
• The same payment was accidentally processed more than once.
• An amount was incorrectly charged due to a verified technical or manual error.
• GGS Forex receives an amount greater than the amount legitimately payable.
• A transaction cannot be completed due to an issue attributable to GGS Forex.
• A refund is required by applicable law or regulatory direction.

Any such case will be reviewed before a refund is approved.

Where a customer pays an amount greater than the amount payable against a transaction:

GGS Forex may, subject to verification and applicable procedures:

1. Adjust the excess amount against another eligible transaction of the same customer;
2. Retain the amount temporarily pending confirmation or reconciliation; or
3. Refund the eligible excess amount through an approved payment method.

The customer may be required to provide transaction details and supporting documents before an adjustment or refund is processed.

Cancellation of an international transfer depends on the status of the transaction.

Before Processing

Where a transfer has not yet been processed or submitted to the relevant financial institution, a cancellation request may be considered.

Applicable charges may be deducted.

After Processing

Once the transfer has been:

• Submitted to a bank,
• Sent through a payment network,
• Released to a beneficiary,
• Settled,
• Credited to the beneficiary, or
• Otherwise processed by the relevant financial institution,

cancellation may not be possible.

Where a reversal is technically possible, the customer may be responsible for applicable:

• Bank charges
• Correspondent bank charges
• Exchange-rate differences
• Third-party fees
• Regulatory or processing charges

The final amount returned may therefore differ from the original amount paid.

If an international transfer is rejected or returned by a bank or payment provider, GGS Forex may process the applicable refund after receiving and reconciling the returned funds.

The refund may be reduced by charges imposed by banks, correspondent institutions, payment networks or other service providers, where applicable.

Refund processing will begin only after the relevant funds are actually received and reconciled.

Forex and travel card cancellation and refund eligibility may depend on the card's status.

Before Issuance

If the card application has not yet been issued or processed, cancellation may be considered subject to applicable charges and provider terms.

After Issuance / Loading / Activation

Once a card has been:

• Issued,
• Loaded,
• Activated, or
• Used,

cancellation may not be permitted.

Card balances, unloading, closure, replacement and applicable charges are governed by the relevant card issuer's terms and conditions.

GGS Forex cannot guarantee a refund of fees imposed directly by a card issuer or other third-party provider.

Travel insurance is subject to the terms and conditions of the relevant insurance provider.

Cancellation eligibility, refund amount and applicable charges may depend on:

• Whether the policy has been issued
• Policy start date
• Whether coverage has commenced
• Whether a claim has been made
• Insurer-specific cancellation rules
• Applicable regulatory requirements

Where an insurance policy is issued by a third-party insurer, refunds will be processed in accordance with the insurer's applicable policy and cancellation rules.

GGS Forex does not independently determine insurance claims or coverage decisions.

Cancellation and refund eligibility for SIM/eSIM products depends on whether the product has been issued, activated or used.

Before Activation

A cancellation request may be considered if the SIM/eSIM has not been activated or used and the relevant provider permits cancellation.

After Activation

Once an eSIM/SIM has been:

• Activated,
• Installed where installation constitutes activation,
• Used,
• Assigned to a customer, or
• Provisioned by the service provider,

it may generally be non-refundable.

Network availability, destination restrictions, device incompatibility or customer-side installation issues may affect refund eligibility.

Third-party provider terms may apply.

For other digital, travel or financial products offered through GGS Forex, cancellation and refund eligibility will depend on:

• Product-specific terms
• Whether the service has been activated
• Whether the service has been consumed
• Third-party provider rules
• Applicable law

Where a separate product-specific cancellation policy exists, that policy will apply to the extent of any conflict.

GGS Forex may not be responsible for losses or additional charges arising from incorrect information provided by the customer, including:

• Incorrect beneficiary details
• Incorrect bank account information
• Incorrect currency
• Incorrect amount
• Incorrect travel dates
• Incorrect passport information
• Incorrect delivery address
• Incorrect email or mobile number
• Incorrect destination
• Incorrect customer information

Where a correction, reversal or reprocessing is possible, additional charges may apply.

Approval of a refund does not necessarily mean that the entire amount originally paid will be returned.

The refundable amount may be reduced by applicable:

• Cancellation charges
• Bank charges
• Payment gateway charges
• Currency conversion differences
• Third-party provider charges
• Taxes or statutory deductions
• Processing fees
• Other legitimately applicable costs

The customer will be informed of applicable deductions where reasonably practicable.

Approved refunds will generally be initiated within 7–10 working days after the refund is approved and all required information has been verified.

Actual crediting time may depend on:

• Bank processing
• Payment gateway
• Card issuer
• Financial institution
• Third-party service provider
• Intermediary bank
• Payment method

GGS Forex is not responsible for delays caused solely by external banking or payment infrastructure.

Where reasonably feasible, refunds will be processed through the original payment method.

For security, compliance and fraud-prevention purposes, GGS Forex may require:

• Identity verification
• Payment confirmation
• Bank account verification
• Transaction documents
• Proof of ownership of the original payment method

Refunds to unrelated third-party accounts may be restricted.

Where the original transaction was paid in cash, the refund method may be subject to:

• Applicable regulatory requirements
• Internal verification procedures
• Transaction limits
• Availability of an appropriate refund mechanism

Additional documentation may be required before a cash-related refund is processed.

Where payment was made through cheque or bank transfer, the refund may be processed only after successful confirmation and reconciliation of the original payment.

Refunds may generally be made to the verified account from which the payment originated, subject to applicable requirements.

To request cancellation or refund, customers should contact GGS Forex as soon as possible.

Please provide:

• Customer name
• Order/transaction reference
• Date of transaction
• Service purchased
• Amount
• Payment reference
• Reason for cancellation/refund
• Supporting documents, where required

Cancellation requests should be made through the designated official support channels.

A cancellation request is not considered approved until confirmation is provided by GGS Forex.

Before approving a refund, GGS Forex may verify:

• Transaction status
• Payment status
• KYC information
• Customer identity
• Service fulfilment status
• Third-party provider status
• Regulatory requirements
• Fraud or security concerns

Additional information may be requested where necessary.

Where a transaction is suspected to involve:

• Fraud
• Unauthorized payment
• Identity misuse
• Money laundering
• False documentation
• Chargeback abuse
• Payment manipulation

GGS Forex may temporarily suspend the refund while the matter is investigated.

Where required, information may be shared with banks, payment providers, regulators or law-enforcement authorities.

Customers should contact GGS Forex before initiating a payment dispute or chargeback where the matter concerns a GGS Forex transaction.

Where a chargeback is initiated, GGS Forex may provide the relevant transaction, payment and fulfilment information to the payment provider or acquiring bank for investigation.

A chargeback does not automatically create a right to a refund.

GGS Forex may be required to delay, reject, suspend or restrict a refund where necessary to comply with:

• Applicable foreign exchange regulations
• KYC/AML requirements
• Sanctions requirements
• Tax requirements
• Regulatory directions
• Court orders
• Law-enforcement requests
• Fraud-prevention procedures

Where legally permitted, the customer will be informed of the applicable reason or status.

For products supplied or processed by third parties, including:

• Banks
• Payment providers
• Card issuers
• Insurance providers
• Telecom/eSIM providers
• Remittance partners
• Other authorized service providers

refunds may be subject to the relevant provider's terms.

GGS Forex will reasonably assist customers in coordinating eligible refunds but cannot guarantee a refund where the third-party provider's terms do not permit one.

GGS Forex will not be responsible for delays or inability to process cancellations or refunds caused by circumstances beyond reasonable control, including:

• Banking system failures
• Payment network failures
• Government restrictions
• Regulatory changes
• Natural disasters
• War or civil unrest
• Cybersecurity incidents
• Telecommunications failures
• Power failures
• Third-party infrastructure failures

We will make reasonable efforts to process eligible refunds once the relevant systems or services become available.

Currency exchange rates are subject to market movements.

A customer cannot claim a refund solely because:

• The exchange rate subsequently changed;
• The currency became cheaper after purchase;
• The customer could obtain a better rate elsewhere;
• The customer changed their mind about the rate.

Once a transaction has been validly executed, the applicable transaction rate will generally be final.

Promotional products, discounted services, cashback offers or special rates may have additional cancellation and refund conditions.

Where specifically disclosed at the time of purchase, the promotional terms will apply.

Promotional benefits may be cancelled or reversed where the underlying transaction is cancelled or refunded.

Customers who are dissatisfied with a cancellation or refund decision may contact GGS Forex through our customer support/grievance channel.

We will review the complaint in accordance with our applicable grievance redressal process and regulatory requirements.

Nothing in this Policy limits any mandatory statutory or regulatory rights available to a customer.

GGS Forex may update this Cancellation & Refund Policy from time to time to reflect:

• Regulatory changes
• Product changes
• Operational changes
• Third-party provider requirements
• Security requirements
• Changes in our business processes

The updated Policy will be published on this page with the revised effective date.

For cancellation, refund or transaction-related assistance:

GGS Forex Private Limited

Email: support@ggsforex.com

Phone: +91 9896038666

Office Address:

SCO 43, Mahila Ashram Complex,
Behind Bus Stand, Karnal, Haryana – 132001, India

RBI FFMC License: CHG-FFMC-0128-2023

GSTIN: 06AAJCG7454N1Z0

CIN: U67100HR2022PTC103240