Cancellation & Refund Policy

1. Overview of Settlements

At PayCred, owned and operated by HINDUSTAN MFG (having GSTIN: 27BZWPK3501Q1ZM), we process payments directly through escrow/nodal current accounts at Bharat Co-op Bank to the beneficiary bank account. Because these payments are processed in real-time or batched cycles, cancellations and refunds are subject to specific guidelines depending on the transaction state.

2. Transaction Cancellation

Cancellation rules apply depending on whether the payout has been settled:

• Scheduled/Pending Transfers: Users can request immediate cancellation of any scheduled payments (such as standard NEFT payouts set for the next business day) directly via the Support drawer in the dashboard. Upon successful cancellation, the transaction is cancelled and the credit line authorization is reversed.
• Instant/Settled Transfers: Once a payment is status marked as SETTLED (the funds have left the node/escrow account and were deposited into the beneficiary's bank account via IMPS), the payment is irreversible. No cancellations can be processed. Users must settle any disputes directly with the beneficiary or educational institution.

3. Automated Reversals & Compliance Blocks

Payments may be cancelled automatically by our system or bank gateways:

• Failed/Invalid Bank Details: If the beneficiary bank account number or IFSC is invalid, the payout will fail. The system will mark the transaction status as REFUNDED and reverse the entire billed amount to your credit card.
• Compliance/AML Violations: Transactions flagged under our anti-abuse rules (e.g., self-payment name collisions, incorrect PAN numbers) are automatically blocked. Billed amounts, including processing fees, are reversed back to your card.

4. Refund Processing Windows

Once a refund is initiated by us (either automatically or manually by support staff):

• The transaction status changes to REFUNDED.
• Funds are sent back to the issuing bank of your credit card.
• The credit should reflect on your credit card statement within 2 to 3 business days (depending on your card network and bank cycles).

5. Resolution & Disputes

If a payout fails or is delayed, our support team can assist. Contact us via the chat assist panel on the site or write directly to our help desk: