Cancellation Policy

1. Introduction

This Cancellation Policy outlines the terms and conditions governing the cancellation of foreign exchange transactions, remittance services, prepaid travel cards, and related services offered by Quick Forex Limited (“Quick Forex”, “Company”, “we”, “our”, or “us”).

Quick Forex Limited is an Authorized Dealer Category-II licensed by the Reserve Bank of India (RBI) and operates in accordance with applicable RBI regulations, FEMA guidelines, and internal compliance requirements.

By placing an order or availing any service through Quick Forex, you acknowledge and agree to the terms of this Cancellation Policy.

2. Foreign Currency Notes Transactions

2.1 Cancellation Before Processing

Customers may request cancellation of a foreign currency order before the transaction has been processed, invoiced, or funds have been received by Quick Forex.

No cancellation charges may be applicable in such cases, subject to management approval.

2.2 Cancellation After Processing

Once the foreign exchange transaction has been processed, invoiced, or currency has been allocated for the customer, cancellation shall be subject to:

• Prevailing market exchange rates at the time of cancellation.
• Any exchange rate fluctuation losses incurred by Quick Forex.
• Applicable taxes, duties, and government levies.
• Administrative and processing charges.

The refund amount may therefore be lower than the original amount paid by the customer.

2.3 Cancellation After Currency Delivery

Foreign currency transactions cannot be cancelled once physical currency has been delivered to the customer.

Any buyback of foreign currency shall be treated as a separate transaction at prevailing buyback rates.

3. Outward Remittance Transactions

3.1 Cancellation Before Remittance Execution

A remittance request may be cancelled before funds are transmitted to the beneficiary bank.

Quick Forex reserves the right to deduct:

• Banking charges incurred.
• Compliance verification costs.
• Administrative charges.

3.2 Cancellation After Remittance Execution

Once funds have been transferred to the beneficiary bank or intermediary bank, cancellation shall be subject to:

• Successful recall of funds from the beneficiary bank.
• Acceptance by intermediary and beneficiary institutions.
• Deduction of correspondent bank charges, wire fees, and other third-party costs.

Quick Forex cannot guarantee the successful recall of a remittance once executed.

Any refund shall be processed only after funds are received back by Quick Forex.

4. Prepaid Travel Cards

4.1 Cancellation Before Card Issuance

Customers may request cancellation before card issuance and loading.

Applicable processing charges may be deducted.

4.2 Cancellation After Card Issuance

Where a travel card has already been issued and/or loaded:

• Card issuance fees are non-refundable.
• Applicable card closure charges may apply.
• Remaining card balance shall be refunded after verification and settlement procedures.

Refunds shall be processed as per RBI, card network, and issuer guidelines.

5. Refund Processing

Approved refunds shall generally be processed through the original payment source used by the customer, subject to regulatory requirements.

Estimated refund timelines:

• Domestic bank transfers: 3–7 working days.
• Remittance recalls: Subject to beneficiary bank processing timelines.
• Travel card closures: 7–15 working days.

These timelines are indicative and may vary based on banking channels and compliance requirements.

6. Compliance and Regulatory Restrictions

Quick Forex reserves the right to refuse cancellation requests where:

• The transaction has already been completed.
• Regulatory restrictions prohibit reversal.
• Fraud, misrepresentation, or suspicious activity is detected.
• Documents submitted by the customer are found to be inaccurate or misleading.

All transactions remain subject to FEMA, RBI, AML, KYC, and applicable legal requirements.

7. Exchange Rate Fluctuation Risk

Foreign exchange markets are subject to continuous fluctuations.

Customers acknowledge that:

• Exchange rates applicable at the time of cancellation may differ from rates applicable at the time of booking.
• Any gain or loss arising from exchange rate movement shall be borne by the customer.
• Quick Forex shall not be liable for losses resulting from market fluctuations.

8. Force Majeure

Quick Forex shall not be liable for delays, inability to process cancellations, or refund delays caused by events beyond its reasonable control, including:

• Regulatory actions.
• Banking system failures.
• Network outages.
• Natural disasters.
• Government restrictions.
• Acts of war, terrorism, or civil unrest.

9. Contact Information

For cancellation requests or assistance, customers may contact:

Quick Forex Limited
Email: support@quickforex.in
Customer Care: +91 98916 64241
Website: www.quickforex.in

All cancellation requests must be submitted through official communication channels and may require identity verification before processing.

10. Right to Amend

Quick Forex Limited reserves the right to amend, modify, or update this Cancellation Policy at any time without prior notice, subject to applicable laws and regulatory requirements.