Refund Policy
Last updated: April 05, 2026 · Governed by the laws of the Republic of the Philippines
This policy applies where a Borrower or Company has paid more than is legally owed, or where a payment was made in error. Loan proceeds already disbursed are governed by the signed loan agreement and are not subject to refund except as permitted by law.
1. Scope
This Refund Policy applies to all transactions processed through the Platform between the Company and its Borrowers. It governs overpayments, erroneous charges, pre-payment rebates, and declined loan application fees.
2. Overpayments
If a Borrower remits an amount in excess of the outstanding loan balance (principal, accrued interest, and applicable penalties), the Company shall:
- Apply the excess to any other outstanding obligations of the Borrower; or
- Refund the verified excess amount within fifteen (15) business days from the date the overpayment is confirmed.
Refunds shall be remitted via GCash, bank transfer, or the original payment method used by the Borrower.
3. Pre-Payment / Early Settlement Rebates
Borrowers who wish to settle a loan in full before the scheduled maturity date are entitled to a rebate on unearned interest charges. Rebates shall be computed using the Rule of 78s (sum-of-digits method) or as otherwise specified in the signed loan agreement, in accordance with BSP and SEC guidelines.
The rebate shall be applied as a reduction of the pre-payment settlement amount. A cash refund may be issued if the Borrower has already paid in excess of the pre-payment settlement figure.
4. Erroneous or Duplicate Payments
If a Borrower makes a duplicate or erroneous payment (e.g., wrong account, wrong amount), the Borrower must notify the Company within five (5) business days from the transaction date, providing:
- Proof of payment (reference number, screenshot, or bank confirmation)
- A written explanation of the error
The Company shall investigate and, upon confirmation, process the refund within ten (10) business days.
5. Declined Loan Applications
If a loan application is declined after a non-refundable processing fee has been collected, the fee shall be retained by the Company to cover evaluation costs. This shall be clearly disclosed before any fee is collected. No processing fee shall be collected if none was disclosed prior to application.
6. Processing Fees
Processing fees collected upon loan disbursement are non-refundable. These fees are disclosed to the Borrower prior to disbursement in accordance with the Truth in Lending Act (RA 3765).
7. How to Request a Refund
To request a refund, the Borrower must submit a written request to the Company through the Platform or by visiting the registered Company office, including:
- Full name and loan account number
- Amount claimed and reason for the refund
- Preferred refund method and account details
- Supporting documentation
8. Resolution Timeframes
| Refund Type | Timeframe |
|---|---|
| Overpayment | 15 business days |
| Erroneous / Duplicate Payment | 10 business days |
| Pre-payment Rebate | Applied at settlement |
9. Escalation to Regulatory Bodies
If the Company fails to resolve a refund dispute within the stated timeframes, Borrowers may escalate their complaint to:
- Securities and Exchange Commission (SEC) — for lending company complaints
- Bangko Sentral ng Pilipinas (BSP) Consumer Protection and Market Conduct Office
- Department of Trade and Industry (DTI) — for consumer protection issues
- National Privacy Commission (NPC) — for data-related concerns arising from refund disputes