Cancellation & Refund Policy

1.1 Rate Freeze Facility

Customers may freeze live exchange rates displayed on the website for up to three (3) working days, including the booking date. This facility allows customers to book retail forex products including, but not limited to: Prepaid Forex Cards, Foreign Currency Notes, and Outward Remittance Transactions. Fixed rate orders can be placed between 10:00 AM and 3:30 PM on weekdays, excluding bank holidays.

1.2 Rate Guarantee Deposit

To freeze exchange rates, customers must:

• Pay a refundable rate guarantee deposit of 2% of the transaction value; or
• Make full payment upfront at the time of booking

The 2% deposit is non-adjustable, refundable upon successful completion of the transaction, and can be paid via credit card, debit card, net banking, NEFT, or RTGS through our secured payment gateway.

1.3 Validity of Fixed Rates

The frozen rate is valid only if the transaction is executed within three (3) working days from order confirmation. If the order is not executed within this period, it is automatically cancelled and the 2% deposit will be forfeited.

1.4 Cancellation of Fixed Rate Orders

Once a fixed rate order is confirmed, MegoForex.com places back-to-back orders with authorised channel partners and such orders cannot be cancelled. However, cancellation may occur due to:

• Non-compliance with applicable laws, rules, or regulations
• Non-availability of mandatory documents
• RBI / FEMA guideline violations
• Anti-Money Laundering (AML) requirements
• Submission of forged, invalid, or expired documents

In such cases, the 2% deposit (or up to 2% of total order value in case of full payment) will be forfeited, and payment convenience fees are non-refundable.

1.5 Situations Where 2% Will Be Forfeited

• Trip postponed or preponed
• Mandatory documentation not provided
• Existing forex card already issued through MegoForex.com
• Traveller unavailable at time of execution
• Insufficient balance for encashment or unload requests
• Incorrect product selected
• Full payment not completed within 3 working days
• Incorrect or inaccurate information provided

3.1 Refund of Rate Lock Deposit

Upon successful completion of a fixed rate transaction within the validity period, 100% of the 2% rate lock deposit will be refunded via the original payment method.

3.2 Partial Refund in Case of Loss

If a fixed rate order is cancelled and the affiliate money changer incurs losses due to market movement, the deposit may be partially refunded based on the actual loss sustained. Customers must formally request cancellation and acknowledge liability for deposit adjustment. Refund requests must be submitted within 7 days; failure to do so will be treated as confirmation of forfeiture.

3.3 Refund Processing Time

Processing timelines may vary depending on banking institutions.

5.1 Travel Insurance

Insurance products are regulated under IRDAI guidelines. All cancellations are subject to the insurer's policy terms. MegoForex.com does not control or guarantee refunds. Cancellations must be processed directly with the insurer. We may assist customers for faster coordination but hold no liability.

5.2 Tour Bookings

Travel and tour bookings listed on the portal are provided by third-party vendors. MegoForex.com acts only as a facilitator. Cancellation terms are governed by the respective vendor. After booking, the agreement is directly between the user and the vendor. Any refund or cancellation must be processed through the vendor.

5.3 International SIM Cards

International SIM cards are listed by third-party vendors. MegoForex.com is not the service provider. Disputes must be addressed to the SIM operator.

MegoForex.com acts solely as a facilitator and assumes no liability regarding SIM card services.