The refund process includes your institution, who approves and initiates the refund, and LuLu Forex, who verifies the originating account information and sends the funds back to the payer. Below you can find a detailed account of the refund process and some helpful tips!
To begin the refund process, start with your institution:
- After you have asked your institution for a refund and they have approved your request, they will need to initiate your refund and send the funds to LuLu Forex. At this point, the funds are still with your institution. How quickly the refund is initiated depends on the institution. This process typically takes anywhere from a few business days to a couple weeks.
- Your refund will have the same reference as your original payment, the Payment ID, even if you are expecting a partial refund.
Note: If you are not sure when your refund was initiated and sent to LuLu Forex, you can check directly with your institution.
After your institution sends the funds, LuLu Forex will start the processing of getting
those funds back to you:
- LuLu Forex notifies you by email immediately once the funds have been received to our bank account, which is when we can start processing your refund back to you. In order to return your payment, we may need to verify
the originating account information to prevent fraud and money laundering. If you are asked to submit any information or documentation for your refund, LuLu Forex will reach out to you directly by email. Most refunds are processed within a couple of business days and we will notify you as soon as your refund is finished to let you know the payment is on its way to the originating account
Within a few days, LuLu Forex will send the funds back to the originating account:
- When LuLu Forex has finished the refund process, it means that the payment is on its way back to the originating bank account. Most refunds are received within 5 business days from this point but depending on the country where the refund is sent to, this may take up to 10 business days. Payments are always sent back to the originating account in Indian Rupee.