Updated On 6 Feb 2025

Refund & Cancellation Policy

1. INTRODUCTION AND SCOPE

1.1 Policy Overview

This Refund and Cancellation Policy outlines the terms and conditions governing refunds, cancellations, and related financial adjustments for services provided through the Stack Wealth platform. Given our dual business model operating through two distinct entities - Stackfin Technology Private Limited (advisory services) and Invacia Labs Private Limited (distribution services) - this policy addresses the unique refund scenarios applicable to each platform while ensuring compliance with SEBI regulations and consumer protection laws.

Our commitment to transparency and customer satisfaction drives this comprehensive policy, which aims to provide clear guidelines for various refund scenarios while maintaining the integrity of our fee-only advisory model and commission-free distribution services.

1.2 Regulatory Compliance Framework

This policy is designed to comply with multiple regulatory frameworks including:

SEBI (Investment Advisers) Regulations, 2013: Ensuring that refund policies for advisory services maintain the integrity of the fee-only model and do not create conflicts of interest.

Consumer Protection Act, 2019: Providing fair and transparent refund mechanisms that protect consumer rights while balancing legitimate business interests.

Digital Personal Data Protection Act, 2023: Ensuring that refund processes respect data protection requirements and user privacy rights.

Payment and Settlement Systems Act, 2007: Compliance with RBI guidelines for payment processing and refund mechanisms through our payment gateway partner Razorpay.

1.3 Platform-Specific Refund Frameworks

Advisory Platform Refunds (Stackfin Technology): Refunds for advisory services are governed by the nature of intellectual services provided, subscription-based pricing models, and the ongoing nature of investment advisory relationships. The policy recognizes that advisory services involve continuous engagement and personalized recommendations that cannot be "returned" in the traditional sense.

Distribution Platform Refunds (Invacia Labs): Refunds for distribution services primarily relate to transaction processing errors, failed investments, or regulatory compliance issues. Since we operate on a commission-free model with direct payment routing to AMCs and fund houses, most refund scenarios involve coordination with third-party product manufacturers.

2. ADVISORY SERVICES REFUND POLICY

2.1 Stack One Plan Refund Terms

Subscription-Based Refund Framework: Stack One plans (6-month, 12-month) operate on a subscription model where fees are paid in advance for access to advisory services, research, and ongoing support. Refunds are calculated based on the unused portion of the subscription period and the nature of services already provided.

Cooling-Off Period: We provide a 7-day cooling-off period from the date of subscription activation during which you may cancel your subscription and receive a full refund, provided:

No personalized investment advice has been provided
No portfolio recommendations have been delivered
No financial planning sessions have been conducted
The cancellation request is submitted within 7 calendar days of activation

Pro-Rata Refund Calculation: After the cooling-off period, refunds are calculated on a pro-rata basis for the unused portion of your subscription:

Daily rate calculation: Total subscription fee ÷ subscription days
Unused days: Remaining days from cancellation date to subscription end date
Refund amount: Daily rate × unused days, minus applicable deductions

Service Utilization Deductions: The following deductions apply based on services already consumed:

Initial portfolio analysis and recommendations: ₹4,000
Financial planning session (each): ₹3,000
Retirement planning reports: Rs: ₹3,000
Personalized research reports (each): ₹2,000
Tax planning consultation: ₹2,000
Insurance advisory session: ₹1000
Any other specific or customized services undertaken : To be determined by Stackfin/Invacia group

Implication of Termination by Client

If the Client prematurely terminates this Agreement for service deficiencies, the Client shall be entitled to a proportionate refund of any advance fees for the unexpired period, less a breakage fee equal to one quarter’s fee

Implication of Termination by Advisor

If the Advisor prematurely terminates this Agreement, the Client shall be entitled to a proportionate refund of any advance fees paid for the unexpired period.

2.2 Stack One Plus Plan Refund Terms

Enhanced Service Refund Framework: Stack One Plus plans (6-month, 12-month) include premium services and enhanced support levels. The refund calculation considers the higher service levels and additional features provided.

Extended Cooling-Off Period: Given the premium nature of Stack One Plus services, we provide a 10-day cooling-off period with full refund eligibility, subject to the same conditions as Stack One plans.

Premium Service Deductions: Additional deductions for premium services consumed:

Global investment strategy consultation: ₹4,000
Momentum strategy implementation: ₹3,000
Advanced portfolio analytics: ₹3,000
Priority support sessions: ₹1000 per session
Comprehensive retirement planning: ₹3,000

Minimum Retention Policy: For Stack One Plus plans, a minimum service fee of ₹5,000 is retained for administrative costs and initial setup, regardless of the cancellation timing (except during the cooling-off period).

Implication of Termination by Client

Implication of Termination by Advisor

If the Advisor prematurely terminates this Agreement, the Client shall be entitled to a proportionate refund of any advance fees paid for the unexpired period.

2.3 Refund Processing Timeline

Standard Processing Time: Approved refunds are processed within 10-15 business days from the date of approval. The actual credit to your account may take additional time depending on your bank's processing schedule.

Refund Method: Refunds are processed through the same payment method used for the original transaction:

Credit card refunds: 5-7 business days
Debit card refunds: 7-10 business days
Net banking refunds: 3-5 business days
UPI refunds: 1-3 business days

Refund Confirmation: You will receive email and SMS confirmation once the refund is processed, including:

Refund amount and calculation details
Transaction reference number
Expected credit timeline
Contact information for refund-related queries

2.4 Non-Refundable Scenarios

Service Completion: No refunds are provided once the subscription period has been completed, regardless of service utilization levels.

Violation of Terms: Refunds are not available if your subscription is terminated due to violation of our Terms and Conditions or applicable laws.

Third-Party Costs: Payment gateway charges, taxes, and other third-party costs are non-refundable and may be deducted from refund amounts.

Promotional Subscriptions: Special promotional offers, discounted subscriptions, or complimentary services may have different refund terms as specified at the time of purchase.

3. DISTRIBUTION SERVICES REFUND POLICY

3.1 Mutual Fund Investment Refunds

Direct Payment Model: Since mutual fund investments are processed directly from your bank account to the respective AMC through our integration with Fintech Primitive and BSE Star MF, we do not hold your investment funds. Refunds for mutual fund investments are governed by the specific fund's terms and conditions and SEBI regulations.

Failed Transaction Refunds: If a mutual fund investment transaction fails due to technical issues or processing errors:

Automatic refund initiation within 24 hours
Full refund of the investment amount
No charges or deductions for failed transactions
Email and SMS notification of refund status

Cancellation Before Allotment: For mutual fund investments, cancellation requests received before unit allotment may be processed:

SIP cancellations: Can be cancelled before the first debit
Lump sum investments: Can be cancelled before NAV application
No cancellation charges for pre-allotment cancellations
Refund processing within 3-5 business days

Post-Allotment Redemptions: Once units are allotted, cancellations are processed as redemptions according to fund-specific terms:

Exit load charges as per scheme documents
Redemption processing time as per AMC guidelines
Tax implications as per applicable laws
Direct credit to your registered bank account

3.2 IPO and Primary Market Refunds

IPO Application Refunds: IPO applications are processed through registrars and stock exchanges. Refund scenarios include:

Non-allotment: Full refund as per SEBI timeline (typically T+6 days)
Partial allotment: Refund of unallotted amount
Technical failures: Full refund within 7 business days
Application rejection: Full refund with explanation

Rights Issue and Bonus Issue: Refunds for rights issues and bonus issues follow exchange and registrar guidelines:

Non-exercise of rights: No refund applicable
Failed applications: Full refund within prescribed timelines
Technical errors: Immediate refund processing
Regulatory compliance: As per SEBI guidelines

3.3 Alternative Investment Products

PMS and AIF Refunds: Portfolio Management Services and Alternative Investment Fund subscriptions have specific refund terms:

Cooling-off period: As specified in the product documents
Early exit charges: As per fund/PMS terms
Minimum lock-in compliance: No refunds during lock-in periods
Regulatory approvals: Required for certain refund scenarios

Bond and NCD Refunds: Fixed income product refunds depend on product characteristics:

Primary market: Refund if not allotted
Secondary market: No refunds, only trading available
Interest payments: No refunds for accrued interest
Maturity proceeds: Direct payment from issuer

4. PAYMENT GATEWAY AND PROCESSING

4.1 Razorpay Integration and Compliance

Payment Processing Framework: Our integration with Razorpay ensures secure and compliant payment processing while maintaining transparency in refund procedures. Razorpay's PCI DSS compliance and robust security infrastructure protect your payment information throughout the transaction and refund process.

SEBI-Compliant Payment Routing: For distribution services, we implement SEBI-compliant payment routing where investment amounts are transferred directly from your account to the respective AMC or fund house, ensuring we never hold client funds. This direct routing mechanism affects refund processing as follows:

Investment refunds are processed by the AMC/fund house directly
We facilitate refund requests but do not control the refund timeline
Refund status tracking is provided through our platform
Customer support is available for refund-related queries

Payment Gateway Charges: Razorpay charges for payment processing are typically absorbed by us for advisory services but may apply to certain distribution transactions:

Advisory service payments: Gateway charges absorbed by Stack Wealth
High-value transactions: May include gateway charges as specified
International payments: Additional charges may apply
Refund processing: Gateway charges are non-refundable

4.2 Failed Payment Handling

Automatic Retry Mechanism: For failed payments, we implement an automatic retry mechanism:

Initial retry after 2 hours
Second retry after 24 hours
Final retry after 48 hours
Manual intervention available upon request

Payment Failure Refunds: If payments are debited from your account but the transaction fails:

Automatic refund initiation within 24 hours
Bank reconciliation within 3-5 business days
Customer notification throughout the process
Escalation support for delayed refunds

Subscription Continuity: For advisory services, payment failures are handled to ensure service continuity:

Grace period of 7 days for payment resolution
Service suspension after grace period
Automatic reactivation upon successful payment
Pro-rata adjustment for service interruption

4.3 Refund Security and Verification

Identity Verification: All refund requests undergo identity verification to prevent fraud:

Account holder verification
Transaction authentication
OTP verification for high-value refunds
Additional documentation for suspicious requests

Refund Approval Process: Refund requests follow a structured approval process:

Initial review by customer service team
Technical verification of refund eligibility
Financial approval for refund amount
Final authorization and processing

Audit Trail Maintenance: Complete audit trails are maintained for all refund transactions:

Request initiation and approval timestamps
Verification steps and approvals
Processing status and completion
Customer communication records

5. CANCELLATION PROCEDURES

5.1 Advisory Service Cancellations

Subscription Cancellation Process: To cancel your advisory service subscription:

Step 1: Cancellation Request Submission

Log into your Stack Wealth account
Navigate to subscription management section
Select "Cancel Subscription" option
Provide reason for cancellation (optional but helpful)
Confirm cancellation request

Step 2: Verification and Processing

Identity verification through OTP
Review of service utilization and refund eligibility
Calculation of applicable refund amount
Confirmation of cancellation terms

Step 3: Final Confirmation

Email confirmation of cancellation request
Detailed refund calculation breakdown
Timeline for refund processing
Information about service termination date

Immediate vs. End-of-Period Cancellation: You can choose between immediate cancellation or end-of-period cancellation:

Immediate cancellation: Service stops immediately, pro-rata refund calculated
End-of-period cancellation: Service continues until subscription end, no refund applicable

5.2 Distribution Service Cancellations

Investment Cancellation Procedures: Cancellation procedures vary based on the type of investment and its status:

Pending Investments:

SIP cancellations: Can be cancelled before first debit
Lump sum investments: Can be cancelled before processing
IPO applications: Can be cancelled before issue closure
No cancellation charges for pending investments

Processed Investments:

Mutual fund redemptions: Follow AMC-specific procedures
Stock sales: Through your broker account via Smallcase integration
Bond trading: Subject to market availability and pricing
PMS/AIF exits: As per product terms and lock-in periods

Systematic Investment Cancellations: For SIP and other systematic investments:

Online cancellation through platform
Bank mandate cancellation if required
Confirmation of last debit date
Option to pause instead of cancel

5.3 Account Closure and Data Handling

Complete Account Closure: If you wish to close your Stack Wealth account entirely:

All active subscriptions must be cancelled first
Pending investments must be resolved
Outstanding dues must be settled
Data retention preferences must be specified

Data Retention During Closure: Upon account closure, we retain certain data as required by regulations:

KYC documents: 5 years as per PMLA requirements
Transaction records: 5 years as per SEBI guidelines
Communication records: 3 years for audit purposes
Marketing preferences: Immediately deleted upon request

Reactivation Procedures: Closed accounts can be reactivated within 12 months:

Identity re-verification required
Updated KYC documentation if needed
Fresh subscription for advisory services
Restoration of investment tracking for distribution services

6. SPECIAL CIRCUMSTANCES AND EXCEPTIONS

6.1 Technical Failure Refunds

Platform Downtime Compensation: In case of extended platform downtime affecting your ability to access services:

Downtime exceeding 24 hours: Pro-rata credit for affected period
Critical feature unavailability: Partial service credit
Data loss incidents: Full refund and compensation as applicable
Third-party service failures: Coordination for resolution and compensation

Transaction Processing Errors: For errors in transaction processing due to technical issues:

Duplicate charges: Immediate refund of excess amount
Incorrect amount processing: Adjustment and refund of difference
Failed investment execution: Full refund and re-processing option
Data synchronization errors: Manual correction and compensation

6.2 Regulatory and Compliance Refunds

Regulatory Changes: If regulatory changes affect service delivery or product availability:

Service discontinuation: Pro-rata refund for unused period
Product restrictions: Alternative product options or refund
Compliance requirements: Adjustment of service terms or refund
License issues: Immediate service suspension and full refund

Compliance Violations: In rare cases where compliance violations affect client services:

Immediate service suspension and investigation
Full refund of affected services
Compensation for any losses incurred
Transparent communication about resolution steps

6.3 Force Majeure and Emergency Situations

Natural Disasters and Emergencies: During force majeure events affecting service delivery:

Service interruption credits
Extended subscription periods
Flexible refund terms
Priority customer support

Pandemic and Health Emergencies: Special provisions during health emergencies:

Extended cooling-off periods
Flexible cancellation terms
Remote service delivery options
Adjusted refund calculations

7. DISPUTE RESOLUTION FOR REFUNDS

7.1 Internal Dispute Resolution

Customer Service Resolution: First level of dispute resolution through our customer service team:

Detailed review of refund request and circumstances
Verification of policy terms and applicability
Attempt to reach mutually acceptable resolution
Escalation to specialized refund team if needed

Grievance Officer Review: Second level review by our designated grievance officer:

Independent review of dispute circumstances
Assessment of policy interpretation and application
Consideration of exceptional circumstances
Final internal decision on refund eligibility

Management Escalation: Final internal escalation to senior management:

Review of complex or high-value disputes
Consideration of policy exceptions
Assessment of customer relationship impact
Final internal resolution decision

7.2 External Dispute Resolution

Consumer Forum Approach: For unresolved refund disputes, you may approach consumer protection forums:

District Consumer Disputes Redressal Commission
State Consumer Disputes Redressal Commission
National Consumer Disputes Redressal Commission
Online consumer complaint portals

SEBI Complaint Mechanism: For investment-related refund disputes:

SEBI SCORES portal (scores.sebi.gov.in)
Direct complaint to SEBI offices
Investor grievance redressal mechanisms
Regulatory intervention and resolution

Arbitration Proceedings: As per our Terms and Conditions, disputes may be resolved through arbitration:

Arbitration under Arbitration and Conciliation Act, 2015
Single arbitrator for disputes under ₹10 lakhs
Arbitration seat in Bangalore, Karnataka
Binding resolution with limited appeal options

7.3 Documentation and Evidence

Required Documentation: For refund disputes, please provide:

Original payment receipts and confirmations
Service utilization records and communications
Screenshots or evidence of technical issues
Correspondence with customer service team
Any other relevant supporting documents

Evidence Preservation: We maintain comprehensive records for dispute resolution:

Complete transaction and service history
Customer communication logs
Technical system logs and error reports
Policy application and decision records
Regulatory compliance documentation

8. CONTACT INFORMATION AND SUPPORT

8.1 Refund Support Contacts

Primary Refund Support:

Email: support@stackwealth.in
Phone: 8884887900 (Option 2 for Refunds)
Business Hours: Monday to Friday, 9:00 AM to 6:00 PM IST
Response Time: Within 24 hours for refund queries

Specialized Support:

Advisory Service Refunds: support@stackwealth.in
Distribution Service Refunds: support@stackwealth.in
Technical Issue Refunds: tech@stackwealth.in
Dispute Resolution: support@stackwealth.in

8.2 Documentation and Forms

Refund Request Forms:

Online refund request form available on platform
Downloadable PDF forms for offline submission
Mobile app refund request feature
Email template for refund requests

Required Information: When requesting refunds, please provide:

Account details and registration information
Transaction reference numbers
Reason for refund request
Preferred refund method
Supporting documentation if applicable

8.3 Escalation Matrix

Level 1: Customer Service Team

Initial refund request handling
Policy explanation and clarification
Standard refund processing
Response time: 24-48 hours

Level 2: Refund Specialists

Complex refund scenario handling
Policy interpretation and exceptions
Technical issue resolution
Response time: 48-72 hours

Level 3: Grievance Officer

Dispute resolution and mediation
Policy exception approvals
Customer satisfaction focus
Response time: 3-5 business days

Level 4: Senior Management

Final internal resolution authority
High-value dispute handling
Policy modification recommendations
Response time: 5-7 business days

9. POLICY UPDATES AND AMENDMENTS

9.1 Policy Review and Updates

Regular Review Schedule: This Refund and Cancellation Policy is reviewed annually or as needed based on:

Regulatory changes and new compliance requirements
Customer feedback and dispute patterns
Business model evolution and new services
Industry best practices and benchmarking
Technology platform updates and capabilities

Stakeholder Input: Policy updates consider input from:

Customer service team feedback
Legal and compliance team recommendations
Customer surveys and feedback
Regulatory guidance and industry standards
Management strategic decisions

9.2 Communication of Changes

Advance Notice: Material changes to this policy will be communicated with:

30-day advance notice via email
Prominent website and app notifications
SMS alerts for significant changes
Updated policy documents with change highlights
Customer service team training on new terms

Grandfathering Provisions: For existing subscriptions and services:

Current policy terms apply until subscription renewal
Option to continue under existing terms or upgrade
Clear communication of changes and options
No retroactive application of new terms
Transition support and guidance

9.3 Version Control and Documentation

Policy Versioning:

Clear version numbering and dating
Change log documentation
Previous version archival
Regulatory approval documentation
Implementation timeline tracking

Accessibility:

Policy available on website and mobile app
Downloadable PDF versions
Multiple language support where applicable
Customer service explanation and guidance
Regular training for support staff

10. REGULATORY COMPLIANCE AND LEGAL FRAMEWORK

10.1 SEBI Compliance Requirements

Investment Adviser Regulations: This policy ensures compliance with SEBI (Investment Advisers) Regulations, 2013, particularly:

Maintenance of fee-only model integrity
Transparent fee and refund structures
Client interest protection measures
Proper documentation and record keeping
Regulatory reporting requirements

Distribution Regulations: For distribution services, compliance with:

SEBI (Mutual Funds) Regulations, 1996
SEBI (Portfolio Managers) Regulations, 2020
SEBI (Alternative Investment Funds) Regulations, 2012
Direct payment routing requirements
Commission disclosure and transparency

10.2 Consumer Protection Compliance

Consumer Protection Act, 2019: Policy alignment with consumer protection requirements:

Fair and transparent refund terms
Reasonable cancellation procedures
Clear dispute resolution mechanisms
Protection against unfair trade practices
Accessible grievance redressal

Digital Consumer Protection: Special provisions for digital service consumers:

Online refund request mechanisms
Digital payment refund procedures
Electronic communication and confirmation
Data protection during refund process
Cybersecurity measures for refund transactions

10.3 Payment System Compliance

RBI Guidelines: Compliance with Reserve Bank of India guidelines for:

Payment and settlement systems
Digital payment security
Customer protection in payment services
Dispute resolution for payment issues
Data localization and security requirements

Payment Gateway Compliance: Through Razorpay integration, ensuring:

PCI DSS compliance for card transactions
Secure payment processing and refunds
Fraud prevention and detection
Customer data protection
Regulatory reporting and compliance

CONCLUSION

This Refund and Cancellation Policy represents our commitment to fair, transparent, and customer-centric refund practices while maintaining compliance with all applicable regulations. We recognize that refund policies significantly impact customer trust and satisfaction, and we strive to balance customer interests with business sustainability and regulatory compliance.

Our dual platform structure requires careful consideration of different refund scenarios for advisory and distribution services, and this policy provides comprehensive guidance for all possible situations. We encourage customers to carefully review this policy and contact our support team for any clarifications or assistance.

Regular updates to this policy ensure continued relevance and compliance with evolving regulations and customer needs. We welcome feedback and suggestions for improving our refund processes and customer experience.

For questions, clarifications, or refund requests, please contact our customer support team at support@stackwealth.in or call 8884887900. Our team is committed to providing prompt, fair, and satisfactory resolution to all refund-related queries.