FAQs for Refunds
- How can the customers track the EMI refund amount in their accounts?
- Credit Card EMI: A record is displayed in the customer’s credit card statement stating the refund or reversal amount.
- Debit Card EMI: The customer would receive a notification from the bank regarding the cancellation of the previous EMI and the setting up of a revised EMI. Customers can also see the revised EMI principal amount in their loan.
- Cardless EMI: The customer would receive a notification from the bank regarding the cancellation of the previous EMI and setting up of revised EMI. Customers can also see the revised EMI principal amount in their pending EMI on the lender’s console.
- BNPL: A record is displayed in the customer’s statement stating the refund or reversal amount.
- What happens to the EMIs if the customer cancels an order?
- Credit Card EMI: The entire amount is reversed on the customer’s credit card. A record is displayed in the customer’s credit card statement stating the refund or reversal amount. EMI on the original payment will continue as is. If the customer wants to stop the EMI, they would have to contact their bank to get the EMI canceled.
- Debit Card EMI: The customer will receive a notification from the bank regarding the cancellation of the previous EMI.
- Cardless EMI: The customer will receive a notification from the bank or firm regarding canceling the previous EMI.
Updated 5 months ago