Refund Policy

1. Introduction

TenX strives to provide a seamless and secure experience for our users. However, we understand that there may be situations where a refund is necessary. This Refund Policy outlines the eligibility criteria and process for obtaining a refund on your TenX virtual card transactions. Our refund policy is in accordance with Visa's rules and regulations.

2. Eligible Refunds (Up to 100%)

You may be eligible for a full refund (100% of the transaction amount) in the following circumstances:

Technical Error (10% of Reported Cases): If your TenX virtual card is not activated due to a technical error on our part, we will process a full refund of any associated fees. This aligns with Visa's policy of reimbursing cardholders for any fees incurred due to technical errors on the issuer's side.

Unauthorized Transaction (5% of Reported Cases): If you experience a fraudulent transaction on your TenX card, we will investigate the claim thoroughly. Upon verification of unauthorized activity (through police reports, bank statements, etc.), we will issue a full refund for the fraudulent transaction amount. This is in line with Visa's Zero Liability policy, which protects cardholders from unauthorized transactions.

3. Non-Refundable Transactions (95% of Cases)

Please note that the following transactions are non-refundable:

Authorized Purchases (90% of Cases): Refunds cannot be issued for authorized purchases made with your TenX virtual card. You are responsible for reviewing and confirming all transaction details before completing a purchase. This aligns with Visa's policy of not providing refunds for authorized purchases unless there is a clear case of fraud or an error by the merchant.

Transaction Fees (5% of Cases):  Fees associated with transactions, such as currency conversion fees and network processing fees, are non-refundable. These fees are clearly displayed before you authorize a transaction. This is consistent with Visa's policy that transaction fees are not subject to refund unless there is an error in the calculation of the fees.

4. Refund Process

If you believe you are eligible for a refund, please follow these steps:

Contact Support:  Within 30 days of the transaction date, contact our customer support team at [email protected]  Clearly state your request for a refund and provide all relevant details, including transaction date, merchant name, and amount. This aligns with Visa's recommended timeframe for submitting refund requests.

Investigation: Our team will investigate your claim and may request additional information for verification purposes. We will cooperate with Visa and any relevant authorities if necessary to investigate the claim thoroughly.

Refund Decision:  We will notify you of our decision within 10 business days of receiving your request. If your refund is approved, the funds will be credited back to the original payment source used to activate your TenX virtual card within 5-7 business days. This timeframe is consistent with Visa's guidelines for processing refunds.

5. Important Notes

Time Limit:  Refunds will only be considered for claims submitted within 30 days of the transaction date. This aligns with Visa's recommended timeframe for submitting refund requests.

Documentation:  Providing clear and accurate documentation (e.g., police reports, bank statements) to support your claim will significantly expedite the investigation and refund process. This is in line with Visa's recommendation to provide supporting documentation for refund claims.

Disputes:  If you disagree with our refund decision, you can contact us to discuss further. Additionally, you have the right to pursue dispute resolution through alternative channels, such as arbitration or a consumer protection agency. This aligns with Visa's guidelines for resolving disputes between cardholders and issuers.

6. Conclusion

TenX aims to resolve refund requests fairly and efficiently, adhering to Visa's rules and regulations. We appreciate your understanding of our policies and encourage you to contact us if you have any questions or require further assistance.

©TenX Card Inc. 2023