Refund Policy
Last updated and effective 1 January 2025. This policy governs refunds for BankDisposal subscription fees only and does not apply to bank-side auction payments.
Key points at a glance:
✓ Subscriptions are generally non-refundable once premium access is granted
✓ Cancellations take effect at the end of the billing period — no pro-rata refund
✓ Early cancellation refund requests attract a cancellation fee of half a month's subscription
✓ Duplicate charges and post-cancellation billing are refunded in full
✓ Refund requests must be raised within 15 days of the charge
1. Overview
BankDisposal is a subscription-based information and discovery platform. Because access to premium auction listing data is granted immediately upon payment, our refund policy is designed to be fair to both users and the Company while accounting for the digital nature of our service.
This Policy applies exclusively to subscription fees paid to Assetkart Digital Service Private Limited. It does not apply to Earnest Money Deposits (EMDs), bank charges, or any payments made directly to banks or financial institutions in connection with auctions listed on our Platform — those are governed entirely by the concerned bank's own terms.
2. General Policy — No Refund on Used Access
Subscription fees are non-refundable once access to premium content has been granted. This applies to:
- Monthly subscription plans from the date of activation
- Annual subscription plans once the subscription period has commenced
- Any partial periods remaining after voluntary cancellation
Change of mind, infrequent use, dissatisfaction with auction outcomes, or auctions being cancelled/postponed by the concerned bank do not constitute grounds for a refund, as these events are outside the scope of our Platform.
3. Cancellation & Cancellation Fee
You may cancel your subscription at any time from your account settings. Upon cancellation:
- Your access to premium features will continue until the end of the current billing period.
- No further charges will be made after the current period ends.
- No pro-rata refund will be issued for unused days in the current billing cycle.
Cancellation Fee for Early Termination Refund Requests
If you cancel your subscription and request a refund within the current billing period, a cancellation fee equivalent to half a month's subscription amount will be deducted from any eligible refund. The balance (if any, per Section 4) will be refunded to your original payment method.
Example: Monthly plan at ₹999/month. Cancellation fee = ₹499.50. If a technical refund of ₹999 is applicable, you would receive ₹499.50.
4. Eligible Refund Scenarios
Refunds (subject to the cancellation fee in Section 3 where applicable) will be considered in the following circumstances:
🔴 Platform Unavailability
If the Platform is inaccessible or non-functional for more than 48 consecutive hours due to reasons within our control (excluding scheduled maintenance communicated in advance), you may request a pro-rata refund for the affected period. The cancellation fee does not apply in this case.
🔴 Duplicate or Erroneous Charge
If you are charged more than once for the same subscription period due to a payment gateway error or system fault on our end, the duplicate amount will be refunded in full without any cancellation fee.
🔴 Charge After Confirmed Cancellation
If you are billed for a subscription period after successfully cancelling your plan (as confirmed by our system), the erroneous charge will be refunded in full without any cancellation fee.
5. Non-Eligible Scenarios
Refunds will not be issued for:
- Change of mind or reduced use of the Platform after subscription activation
- Auctions on the Platform being postponed, cancelled, or withdrawn by the bank
- Failure to win a bid at any auction listed on the Platform
- Dissatisfaction with the quantity of listings in a specific city, category, or date range
- EMDs forfeited after a failed auction — these are paid to the bank and are outside our scope
- Failure to read these Terms before subscribing
- Accounts suspended due to violation of our Terms and Conditions
6. Refund Request Process
To request a refund, please follow these steps:
- Email us at [email protected] with the subject line: "Refund Request — [Your Registered Mobile/Email]"
- Include your registered mobile number or email, the date of charge, transaction/order ID (from Cashfree), and the reason for the refund request
- We will acknowledge your request within 48 hours
- Eligible refunds will be processed within 7 business days of approval
- The refund will be credited to the original payment method used at the time of subscription
Requests must be submitted within 15 days of the charge date. Requests received after this period will not be entertained except in the case of ongoing platform unavailability.
7. Refund Timeline
Once a refund is approved, the credit timeline depends on your payment method:
| Payment Method | Expected Timeline |
|---|---|
| Debit / Credit Card | 5–7 business days |
| UPI (GPay, PhonePe, Paytm) | 1–3 business days |
| Net Banking | 3–5 business days |
| UPI / Net Banking | 1–2 business days |
Timelines are from the date of refund initiation by us. Actual credit depends on your bank or payment provider.
8. Disputes & Escalation
If you are not satisfied with our refund decision, you may escalate the matter to our Grievance Officer:
Email: [email protected]
Phone: +91-80154 23311
Company: Assetkart Digital Services Private Limited
Registered Office: OLD NO 141, NEW NO 111, OLD MAHABALIPURAM ROAD, Tiruvanmiyur, Chennai City Corporation, Chennai- 600041, Tamil Nadu
Unresolved disputes are subject to the governing law and arbitration provisions in our Terms and Conditions.