Refund Policy

Effective Date: 4th May 2025

1. Introduction

At AYMED PTY LTD (“we”, “our”, “us”), customer satisfaction, trust, and transparency are core to our global remittance services. This Refund Policy outlines the terms under which refunds may be issued for money transfer transactions initiated via our website, mobile applications, or any other channel we operate.

This policy complies with the Australian Consumer Law, Privacy Act 1988 (Cth), and applicable Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations under AUSTRAC, as well as international standards.

2. General Refund Conditions

Refunds may be issued in accordance with the following conditions:

• The funds have not yet been paid out to the recipient (either in cash, bank account, or wallet).
• The request is made by the original sender (authenticated and verified account holder).
• The transaction was not processed due to a technical failure, regulatory block, or incorrect recipient details.
• Famremit is not under legal or regulatory restriction to withhold the transaction.
• The refund does not violate any AML, CTF, fraud prevention, or sanction restrictions.

Refunds will not be issued where:

• The transaction has been successfully completed.
• The sender provided incorrect recipient details and the money has been collected or deposited.
• The request is made after a period that makes recovery commercially or legally unfeasible.
• The refund is requested for reasons outside Famremit’ control (e.g., currency fluctuations, recipient rejection).

3. Refund Process

To request a refund, you must:

• Contact our customer support via email at info@famremit.com
• Provide your transaction reference number, full name, and the registered email or phone number
• Clearly state the reason for the refund request

Upon verification, we will assess your request and inform you of the decision, expected timeframe, and any deductions (e.g., third-party charges, regulatory holds).

4. Refund Timeframes

We aim to process eligible refunds promptly but are not liable for delays caused by banking networks, intermediary financial institutions, or cross-border compliance checks.

5. Refund Method and Currency

Refunds will be issued for the transfer amount only, minus any applicable non-refundable fees already incurred. These may include:

• Payment gateway charges
• Currency exchange rate losses
• Third-party partner processing fees
• Transaction delivery fees

Refunds are generally processed via the original payment method, unless otherwise agreed or required by law.

6. Partial Refunds

In certain cases, partial refunds may be offered:

• If only part of the transaction was unsuccessful or reversed
• If a portion of the funds were used to cover third-party fees (e.g., intermediary bank charges)
• When the user cancels after the transaction is initiated but not completed

7. Service Fees and Non-Refundable Charges

All service fees, transaction fees, foreign exchange margins, and any third-party fees associated with your transaction are strictly non-refundable, even if:

• You request a cancellation after the transaction has been initiated.
• The transaction fails due to incorrect information provided by you.
• The transaction is reversed due to recipient issues or rejection.
• The refund is approved for the principal amount.

Famremit incurs processing and compliance costs the moment a transaction is initiated, including through integrated third-party systems. These fees are retained to cover these operational and regulatory expenses and cannot be recovered once a transaction is submitted to the system. Where possible, we will provide a transparent breakdown of all fees before you confirm any transaction.

8. Fraud, Misuse, and Suspicious Transactions

We reserve the right to withhold or delay a refund if:

• The transaction is under investigation by Famremit, AUSTRAC, or another authority
• There is a suspicion of fraud, money laundering, or illegal activity
• We are legally required to retain the funds due to sanctions or legal orders

Famremit complies fully with global AML/CTF regulations and will cooperate with law enforcement where required.

9. Cancellations

A transaction may be cancelled if:

• You contact us before the funds are paid out
• The payout provider or recipient bank rejects the transfer
• The transaction is delayed due to an error in the recipient’s information

Cancellations are treated under the same rules as refunds and may incur reversal fees depending on the stage of processing.

10. Exceptions and Non-Refundable Cases

We cannot issue a refund in the following situations:

• The recipient has already collected or received the funds
• The transfer was completed successfully, but you changed your mind
• Incorrect beneficiary details were provided and funds are unrecoverable
• Any service or transaction fees, FX spreads, or partner bank charges
• Refund requests made more than 2 days after the transaction
• Force majeure events or conditions outside Famremit’ control

11. Your Responsibilities

As a user, it is your responsibility to:

• Double-check all transaction details (recipient name, account number, amount, country)
• Use our services in good faith and in accordance with our User Agreement
• Provide complete and accurate information when requesting a refund

12. Changes to This Policy

Famremit may update this Refund Policy to reflect operational, legal, or regulatory changes. The updated version will be posted on our website with the revised Effective Date.

13. Contact Us

For refund-related inquiries or support, please contact us on email: info@famremit.com