How To Get Refunds?

For Indian consumers, its important to know about ways to get refund for their transactions considering that a large number of Indian consumers are going for online transactions. While an online transaction has its benefits, the most common question people have confusion about is how to get refunds for their online or cashless transactions if needed. And what they can do if the other party is not responding or helping. In this post, we will try and answer your all questions regarding this.

Refunds For POS Sales

After demonetization, almost every shop in India is now having POS (Point Of Sale) machines for accepting card payments. When you pay using your card and need a refund later, the machine and the vendor/shop owner has the ability to refund the partial or full amount of sale directly back to your card. Whey they do so, banks take time to refund but you will be getting your refund back to your card within 1-7 business days mostly. In case, if a vendor is saying that he refunded you but you haven’t got a refund even after 7 business days, contact your card issuing bank.

Refund For Wallet Transactions

With more use of online payments, India has got a lot of online payment wallet companies as well like PayTM, Mobikwik, Amazon Pay, etc. If you use any of them for payment, all refunds will be credited back to your wallet balance most of the times until you made a transaction with a wallet which do not allow you to keep wallet balance. So if you get refund of any of your wallet payments, be sure to first check your wallet account balance. Most of the vendors using wallet payments can refund your payment in full or partially with the amount reflecting in your wallet account balance instantly. In case you do not get a refund, you can contact the wallet company for help which is another benefit of paying from a wallet.

Refund For Online Payments

When you pay online, you and your card are not physically present. In such scenarios, it is advisable to use your credit card for online payments where you can control the limit of spending as well as make a dispute with your bank in case you do not get what you paid for or someone misuses your card details. In case you use a debit card, try and use it through wallet payment services so that you can contact them in case of any disputes. To get a refund for online payments, contact the vendor you paid online and they can refund your payments in full or partially easily. Banks will take some time (1-7 business days) to credit the amount back to your card so have patience because obviously, paying online is instant and money gets deducted from your account instantly but when you need a refund, there is no option but to wait for your bank to process the refund request which the vendor will initiate.

Refund For UPI Payments

When you are using UPI for transferring money for any transaction online or offline, you are also able to get instant refund to your bank account when a vendor refunds you. Try and use reputed online payment wallet companies to register your bank account and create your UPI handle. This way, they can also track your transactions and can help you in case of any disputes.

Refund For Net Banking Payments

Net Banking payments are instant and cannot be reversed which means pay using Net Banking only when you know the vendor of your transaction can be trusted. If you need to use Net Banking for a vendor not so known, try and use it through an online payment wallet so that in case of any issues, you can contact the wallet company for help. To get a refund, you need to contact the vendor but he will not be able to refund it directly to your bank account if you paid through Net Banking without a wallet so do provide your vendor your bank account details in which you wish to get the refund.

So there you have it. Whatever ways you use to pay online, refunds are possible so do use digital transactions as it helps you in many ways and do not worry about getting refunds later if needed. If you follow the above process, there will generally be no issues in getting refund as and when needed. Already using online payments? Please write bank reviews, payment wallet reviews and online or offline shopping reviews on to help other Indian consumers make a right decision on which company or vendor to trust. Also get a chance to win Amazon gift cards with your reviews.

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