MAXCONNECT Pte Ltd. Refund Policy.
1st January 2004
The charges we make for our services are transaction fees, a monthly fee, and a set up fee. There are also fees relating to items such as bank charges, processing refunds and chargebacks. Details of all our fees can be seen on our website.
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If you have applied for an account and paid the set up fee and then changed your mind within 48 hours, we will return the set up fee, provided we have not yet started to process your application, and depending on the amount of administrative time we have spent on the matter.
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Following your application we will assess your business and calculate your trading limit (the value of transactions we are prepared to process for you each month) and the period we deem appropriate before we remit transaction funds to you (your settlement period). We may also decide that because of the nature of your business we need to ask you to pay us a lump sum for us to hold in reserve as security. We will then advised you of your trading limit and settlement period, and any reserve, and when your account is ready to be set live to trade will send you an email specifying this. If you then decide prior to your account being set live that you do not wish to proceed, we shall return to you the entire fee that you have already plaid except for the set up fee. Your application will already have been processed and we will have spent some time establishing an appropriate settlement period, trading limit and reserve fund for your business and the set up fee will be retained to cover these costs.
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We cannot provide our services to all businesses, either for legal, reputational or risk reasons. If we decline to offer you an account then we shall refund all fees in full.
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If we have processed your application and accepted you as a merchant and you have been notified of the appropriate settlement period and trading limit (and any relevant reserve fund), and your account has then been set live, then we will not return the set up fee, although we may in our absolute discretion agree to you terminating the contract despite the fact that full notice has not been given.
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If we terminate your contract for any reason in accordance with the terms of our contract with you we will not return the set up fee or any part of the other fee.
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If you wish to terminate your contract you should give us written notice at least 5 days before the monthly renewal date of your contract with us. If you fail to send us this notice of termination within 5 days of the date your contract is automatically renewed then you shall become liable for the next monthly fee in full.
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