Refund Policy for Zeni Finance

Effective Date: July 2026

1. Introduction

This Refund Policy ("Policy") governs the circumstances under which Zeni Finance ("we," "our," "us") will issue refunds to our customers. We are committed to transparency and fairness in all financial transactions. Please read this Policy carefully to understand your rights and obligations regarding refunds.

2. General Refund Policy

As a financial institution, Zeni Finance processes various types of transactions. Refunds are handled differently depending on the nature of the transaction, the timing of the request, and applicable regulatory requirements.

General Rule: Refunds are issued only under specific conditions outlined in this Policy. Not all transactions are refundable.

3. Account Activation Fee Refund

3.1 What Is the Account Activation Fee?

When you open a new account with Zeni Finance, a one-time Account Activation Fee of $500.00 is required. This fee is mandated to support regulatory and operational procedures, including:

• Customer identity verification (KYC compliance)

• Anti-money laundering and fraud-prevention checks

• Secure account provisioning and system authorization

• Regulatory reporting and record-keeping requirements

3.2 Refund Policy for Activation Fee

The Account Activation Fee is fully refundable.

Upon successful completion of the activation process, the full amount of $500.00 will be credited back to your account and added to your available balance.

3.3 Refund Timeline

3.4 How to Request Activation Fee Refund

If you have paid the activation fee but wish to request a refund:

Before Account Activation:

• Contact customer support at refunds@zenifinance.org

• Request account closure and fee refund

• Refund processed within 5-7 business days

After Account Activation:

• The fee is automatically credited to your account

• No action required from you

• Funds will appear in your available balance

If Account is Closed:

• Submit written request to refunds@zenifinance.org

• Include account number and proof of payment

• Refund issued via original payment method within 14 business days

3.5 Activation Fee Refund Denials

Refund requests for the activation fee may be denied if:

• The activation process has already been completed and the fee credited

• Fraudulent or suspicious activity is detected on the account

• Legal or regulatory restrictions apply

• Request is submitted after account closure without proper documentation

4. Refundable Transactions

The following transactions may be eligible for a refund under certain conditions:

4.1 Incorrect or Duplicate Transactions

If a transaction was processed:

• In the wrong amount

• To the wrong recipient

• As a duplicate of a previous transaction

Refund Eligibility: Full refund of the incorrect or duplicate amount, provided you notify us within 14 days of the transaction date.

4.2 Unauthorized Transactions

If a transaction was completed without your authorization:

• Stolen account credentials

• Fraudulent access to your account

• Identity theft

Refund Eligibility: Full refund, provided you report the unauthorized activity immediately and cooperate with our investigation. Liability limits apply (see Section 8).

4.3 Service Not Rendered

If you paid for a service that we failed to deliver:

• Failed wire transfer that was not completed

• Bill payment that was not processed

• Subscription service not activated

Refund Eligibility: Full refund of the amount paid for the undelivered service.

4.4 Deposit Pension Scheme (DPS) Early Cancellation

If you cancel your DPS plan before maturity:

• Cancellation within 30 days of first deposit: Full refund of all deposits (no interest earned)

• Cancellation after 30 days: Refund of deposits minus applicable early termination fee

Refund Eligibility: Partial refund based on timing and terms.

4.5 Fixed Deposit Receipt (FDR) Early Withdrawal

If you withdraw from an FDR before maturity:

• Withdrawal within 90 days: Refund of principal minus penalty

• Withdrawal after 90 days: Refund of principal plus accrued interest minus penalty

Refund Eligibility: Principal refunded; interest may be reduced.

5. Non-Refundable Transactions

The following transactions are generally NOT eligible for refunds:

5.1 Fees and Charges

• Monthly maintenance fees (already incurred)

• Transaction fees (for completed transfers)

• Wire transfer fees (once processing has begun)

• Overdraft fees

• ATM fees (out-of-network)

• Paper statement fees

Exception: Fees charged in error will be refunded.

5.2 Completed Transfers to External Accounts

Once a transfer to an external bank account has been completed and confirmed:

• We cannot reverse the transaction

• You must contact the recipient directly

• We are not liable for recipient refusal to return funds

Exception: Unauthorized or fraudulent transfers (see Section 4.2).

5.3 Third-Party Bill Payments

Once a bill payment has been processed and accepted by the payee:

• We cannot issue a refund

• You must contact the biller directly

• Provide proof of payment and request refund from the biller

5.4 Currency Exchange and Conversion Fees

Fees related to currency conversion for international transactions are non-refundable once the transaction has been executed.

6. Deposit Pension Scheme (DPS) Refunds

6.1 During the Cooling-Off Period

You have 14 days from the date of your first DPS deposit to cancel your plan for any reason. During this period:

• Full refund of all deposits made

• No interest earned

• No cancellation fees

6.2 After the Cooling-Off Period

If you cancel after 14 days:

• Refund of total deposits made

• Minus early cancellation fee: $50 or 5% of total deposits (whichever is lower)

• No interest paid

6.3 How to Request DPS Cancellation

Submit a cancellation request through:

• Online banking portal (Settings → DPS Plans → Cancel)

• Customer support email: dps@zenifinance.org

• Phone support: 1-800-ZENI-01

7. Fixed Deposit Receipt (FDR) Refunds

7.1 Early Withdrawal Penalties

If you withdraw funds from an FDR before the maturity date:

7.2 Interest Forfeiture

In addition to penalties, early withdrawal may result in:

• Loss of all accrued interest (if withdrawn within first 30 days)

• Reduced interest rate (if withdrawn after 30 days)

7.3 Maturity Refund

At maturity, your full principal plus earned interest is automatically:

• Deposited into your primary checking account

• OR reinvested if you selected auto-renewal

No penalties apply at maturity.

8. Unauthorized Transaction Refunds

8.1 Your Liability

Your liability for unauthorized transactions depends on how quickly you report them:

8.2 How to Report

Contact us immediately if you notice any unauthorized transaction:

• Phone: 1-800-ZENI-01 (fastest method)

• Email: fraud@zenifinance.org

• Live Chat: Available 24/7 through your account

8.3 Investigation Process

When you report an unauthorized transaction:

1. We will temporarily credit your account (within 10 business days)

2. We will investigate the transaction

3. If confirmed unauthorized, the credit becomes permanent

4. If authorized, we will reverse the temporary credit

9. Wire Transfer Refunds

9.1 Domestic Wire Transfers

• Before processing: Full refund available

• After processing but before completion: Refund minus processing fee ($15)

• After completion: Not refundable (recipient must return funds)

9.2 International Wire Transfers

• Before processing: Full refund minus currency conversion reversal fee ($25)

• After processing: Not refundable

• Intermediary bank fees: Non-refundable once incurred

10. Bill Payment Refunds

10.1 Pending Bill Payments

If a bill payment is still in "Pending" status:

• You may cancel directly from your dashboard

• Full refund issued immediately

10.2 Completed Bill Payments

If a bill payment has been completed:

• We cannot reverse the payment

• You must contact the biller directly

• Provide the payment confirmation number

10.3 Duplicate Bill Payments

If you accidentally paid the same bill twice:

• Contact the biller immediately

• Request a refund for the duplicate payment

• Provide both transaction IDs

11. Refund Processing Timeline

Once a refund is approved, processing times vary:

12. How to Request a Refund

To request a refund, please follow these steps:

12.1 Online Banking (Recommended)

1. Log into your Zeni Finance account

2. Navigate to Transactions

3. Locate the transaction in question

4. Click "Dispute Transaction" or "Request Refund"

5. Provide reason and supporting documentation

6. Submit the request

12.2 Customer Support

Contact our support team:

• Phone: 1-800-ZENI-01 (24/7)

• Email: refunds@zenifinance.org

• Live Chat: Available through your dashboard

12.3 In Writing

Send a written request to:

Zeni Finance
Attn: Refunds Department
123 Financial District, Suite 400
New York, NY 10005

13. Required Information for Refund Requests

When requesting a refund, please provide:

• Full name (as it appears on the account)

• Account number

• Transaction ID or date of transaction

• Amount of transaction

• Reason for refund request

• Proof of payment (if applicable)

• Supporting documentation

Incomplete requests will be returned for additional information.

14. Denied Refund Requests

We may deny a refund request for the following reasons:

• Request submitted after the applicable deadline

• Transaction is non-refundable under this Policy

• Insufficient evidence of error or unauthorized activity

• Request is frivolous or made in bad faith

• Legal or regulatory restrictions apply

• Activation fee already credited to account balance

If your request is denied, we will provide a written explanation and information on how to appeal the decision.

15. Appeal Process

If your refund request is denied, you may appeal:

1. First Appeal: Submit a written appeal to refunds@zenifinance.org within 30 days of denial

2. Second Appeal: Escalate to our Compliance Department at compliance@zenifinance.org

3. External Review: If internal appeals are exhausted, you may contact the Consumer Financial Protection Bureau (CFPB) or your local regulatory authority

16. Chargeback Rights (Debit Card Transactions)

For transactions made using your Zeni Finance debit card, you may have additional chargeback rights under Visa/Mastercard rules. Chargeback rights include:

• Goods or services not received

• Defective or misrepresented goods

• Recurring payments that were not cancelled

• Fraudulent transactions

Contact us to initiate a chargeback. Time limits apply (typically 120 days from transaction date).

17. Contact Information

For refund-related questions or to request a refund:

• Email: refunds@zenifinance.org

• Phone: 1-800-ZENI-01

• Live Chat: Available 24/7 through your online banking account

• Mail: Zeni Finance, Attn: Refunds Department, 123 Financial District, Suite 400, New York, NY 10005

18. Changes to This Policy

We may update this Refund Policy from time to time. When we make material changes, we will notify you by:

• Posting the revised policy on our website (zenifinance.org)

• Sending a notification to your registered email address

• Displaying a notice within our application

The "Effective Date" at the top of this policy indicates when it was last revised. Your continued use of our Services after any changes constitutes your acceptance of the updated policy.

This Refund Policy applies to Zeni Finance and its affiliated entities. By using our Services, you acknowledge that you have read and understood this policy.