Refund & Cancellation Policy

Effective Date

12-26-2025

Policy Statement

AlrealRemit strives to provide efficient, reliable, and transparent money transfer services. This Refund Policy outlines the circumstances under which refunds may be granted and our procedures for handling refund requests. As a Canadian-licensed Money Services Business (MSB), all refund processes comply with applicable financial regulations and consumer protection laws.

1. General Refund Principles

1.1 Refund Eligibility

Refunds may be considered under the following circumstances:

• Failed or incomplete transactions

• Incorrect recipient details provided by the sender

• Duplicate payments

• Service disruptions caused by AlrealRemit

• Cancellation of transactions before processing

• Regulatory or compliance requirements

1.2 Non-Refundable Items

The following are generally not eligible for refunds:

• Completed and successful transactions

• Service fees once a transaction has been initiated

• Exchange rate fluctuations

• Bank or intermediary fees charged by third parties

• Transactions refused by the recipient or receiving institution

2. Refund Scenarios & Procedures

2.1 Transaction Cancellation Before Processing

• Timeframe: Up to 30 minutes after submission (if not yet processed)

• Process: Automatic cancellation through your account dashboard

• Refund: 100% of principal amount and fees

• Timeline: Refund processed within 1-3 business days to original payment method

2.2 Failed Transactions

• Causes: System errors, network issues, or processing failures

• Verification: Our team will investigate and confirm the failure

• Refund: 100% of principal amount and fees

• Timeline: Within 3-5 business days of confirmation

• Notification: Email confirmation upon refund initiation

2.3 Incorrect Recipient Details

• Sender Responsibility: Customers must verify all recipient information before submission

• Immediate Notification: Contact support immediately if incorrect details were provided

• Investigation: We will attempt to recover funds if possible

• Recovery Fee: A $25 CAD investigation fee may apply if funds are recoverable

• No Guarantee: Recovery is not guaranteed if funds have been collected by recipient

2.4 Duplicate Transactions

• Identification: Contact support with both transaction reference numbers

• Verification: Our team will verify duplicate payments

• Refund: 100% of duplicate principal amount

• Timeline: Within 5-7 business days of verification

2.5 Regulatory or Compliance Holds

• Causes: Required by FINTRAC or other regulatory bodies

• Notification: You will receive written notification explaining the hold

• Options: Funds will be returned or transferred as directed by authorities

• Timeline: As required by regulatory timelines (typically 10-30 business days)

3. Refund Process

3.1 How to Request a Refund

1. Contact Support: Email support@alrealremit.com with:

   • Transaction reference number

   • Reason for refund request

   • Supporting documentation

   • Preferred refund method

2. Verification: Our compliance team will review within 2 business days

3. Decision: You will receive a decision within 5 business days

4. Processing: Approved refunds processed within 3-10 business days

3.2 Required Information

• Full name and account details

• Transaction reference number

• Date and amount of transfer

• Reason for refund request

• Proof of payment (if applicable)

• Government-issued ID (for compliance verification)

3.3 Refund Methods

• Original Payment Method: Preferred and default method

• Bank Transfer: To verified Canadian bank account

• Account Credit: For future transfers with AlrealRemit

• Note: Refunds cannot be made to third parties or alternate accounts for security reasons

4. Fees & Charges

4.1 Refund Processing Fees

• No Fee: For transactions cancelled before processing

• No Fee: For failed transactions due to system errors

• $25 CAD: For investigation of incorrect recipient details (if recoverable)

• $15 CAD: For refunds to alternate bank accounts (if approved)

• Third-Party Fees: Any bank or payment processor fees may be deducted

4.2 Exchange Rate Considerations

• Original Rate: Refunds processed at the original transaction exchange rate

• Rate Fluctuations: No compensation for exchange rate changes between transfer and refund dates

• Currency Conversion: Refunds in original currency whenever possible

5. Timeline & Communication

5.1 Processing Timeline

• Initial Response: 24-48 hours

• Decision Notification: Within 5 business days

• Refund Processing: 3-10 business days after approval

• Funds Availability: Depends on your financial institution (typically 1-5 additional days)

5.2 Status Updates

• Email confirmation at each stage

• Online status tracking through your account

• SMS notifications for significant updates

• Final confirmation with refund details

6. Special Circumstances

6.1 Fraudulent Transactions

• Immediate Reporting: Required within 24 hours of discovery

• Investigation: Mandatory 10-business day hold for investigation

• Regulatory Reporting: Filed with appropriate authorities if confirmed

• Refund: Provided if fraud is confirmed and you are not at fault

6.2 Deceased Account Holder

• Documentation Required:

  • Death certificate

  • Letters testamentary or administration

  • Valid ID of executor/administrator

  • Court documents (if applicable)

• Process: Funds returned to estate account only

• Timeline: 15-30 business days after document verification

6.3 Legal Orders

• Court Orders: Compliance with valid Canadian court orders

• Regulatory Directives: Adherence to FINTRAC or other regulatory directions

• Processing: As directed in the legal documentation

• Timeline: According to order requirements

7. Consumer Rights & Protection

7.1 Right to Dispute

If unsatisfied with our refund decision:

1. Escalate: Request review by Compliance Officer

2. Formal Complaint: Submit through our formal complaints process

3. External Recourse: Contact relevant consumer protection agencies

7.2 Canadian Consumer Protection

• Provincial Protections: Subject to Alberta consumer protection laws

• Financial Ombudsman: Eligible for external dispute resolution

• Regulatory Oversight: FINTRAC complaint mechanisms available

7.3 Transparency Commitment

• Clear communication of all decisions

• Explanation of reasons for refusal

• Documentation of all refund transactions

• Access to policy at all times

8. Policy Updates & Notifications

8.1 Policy Changes

• Notification: 30 days notice for significant changes

• Communication: Email and website notification

• Effective Date: Clearly stated on updated policy

• Historical Versions: Available upon request

8.2 Contact for Policy Questions

• Email: compliance@alrealremit.com

• Mail: AL REAL TRADE AND INVESTMENT INC., 60-6440 Centre Street NE, Calgary, Alberta T2K 0VA

• Phone: +1 (403) 768-9000 (for urgent matters only)

9. Important Notes

9.1 Transaction Verification

• Always verify recipient details before submitting

• Keep transaction reference numbers secure

• Review all confirmation screens carefully

• Save email confirmations for your records

9.2 Security Reminders

• Never share your password or verification codes

• Monitor your account regularly

• Report suspicious activity immediately

• Use secure networks for transactions

9.3 Regulatory Compliance

All refunds are subject to:

• FINTRAC reporting requirements

• Anti-money laundering regulations

• Canadian financial services laws

• International sanctions compliance

This policy is part of our Terms of Service. By using AlrealRemit services, you agree to this Refund Policy.