Cancellation & Refund Policy

2.1 Purchase Orders

Before Payment Confirmation:

• You may cancel a purchase order before completing the payment through payment gateway.
• Once you exit the payment screen without completing payment, the order is automatically cancelled.
• No cancellation request is required in such cases.

After Payment Confirmation:

• Once your payment is successfully processed through payment gateway and Digital Gold is credited to your Gold Account, the purchase order cannot be cancelled.
• The gold price may have changed between the time of your order and any potential cancellation, making cancellation impractical.
• If you wish to liquidate your Digital Gold, you must use the Sell-Back feature available in the App.

2.2 Sell-Back Orders

Once you initiate a sell-back transaction and it is successfully processed, the order cannot be cancelled.

The Digital Gold is immediately debited from your Gold Account, and the sale proceeds are processed for transfer to your registered bank account.

The transaction is executed at the live market price at the time of the sell-back order.

2.3 Physical Redemption Orders

Before Dispatch:

• You may cancel a physical redemption order before the item is dispatched from our Vault Partner’s facility.
• To request cancellation, contact our Customer Support immediately at contact@preciousgoldsmith.com or +91 9933661149.
• Upon successful cancellation, the Digital Gold will be re-credited to your Gold Account.
• A cancellation processing fee of ₹[Amount] or [X]% of the order value (whichever is lower) may be applicable to cover administrative costs.

After Dispatch:

• Once the physical gold item has been dispatched, the order cannot be cancelled.
• If you refuse delivery, the item will be returned to our Vault Partner.
• Upon receipt of the returned item, we will re-credit the Digital Gold to your account after deducting:
• Making charges (non-refundable)
• Delivery charges (both ways)
• Return processing fee of ₹[Amount]
• Any applicable GST

2.4 Customer Responsibility for Cancellation

• You must provide complete and accurate information when requesting cancellation.
• Cancellation requests made through unauthorized channels may not be processed.
• You are responsible for ensuring that you contact us within the permitted cancellation window.

3.1 Transaction Failures

Payment Debited but Gold Not Credited:

• If your payment is successfully debited from your account through payment gateway but Digital Gold is not credited to your Gold Account, we will investigate the issue immediately.
• Upon verification, we will either:
• Credit the Digital Gold to your account, OR
• Process a full refund to your original payment method.
• Refunds for failed transactions will be processed within 5-7 business days from the date of verification.

Double Debit or Duplicate Transactions:

• If you are charged twice for the same transaction, please contact our Customer Support immediately with transaction details.
• We will verify the issue and process a refund for the duplicate charge within 5-7 business days.

3.2 Erroneous Transactions

Incorrect Amount Charged:

• If you are charged an amount different from what was displayed at the time of purchase, please report it immediately.
• We will investigate and, if an error is confirmed on our part, process a refund for the excess amount within 5-7 business days.

Wrong Account Credit:

• If Digital Gold is credited to a wrong account due to a technical error, please contact us immediately.
• We will investigate and rectify the issue by reversing the transaction and crediting the correct account.

3.3 Refund for Cancelled Physical Redemption Orders

If you cancel a physical redemption order before dispatch (as per Section 2.3), the Digital Gold will be re-credited to your Gold Account.

No monetary refund is applicable as you will retain the Digital Gold.

Any cancellation fees will be deducted from your Gold Account balance or charged separately.

3.4 Refunds for Refused Deliveries

If you refuse delivery of a physical gold item without valid reason, the following will apply:

• The item will be returned to our Secured Vault.
• Shipping charges are non-refundable.
• Insurance charges on delivery are non-refundable.
• Return shipping charges will be deducted.
• A return processing fee may be charged.
• The remaining Digital Gold equivalent will be re-credited to your Gold Account.

3.5 Refunds for Defective or Damaged Physical Gold

• If you receive a physical gold item that is damaged, defective, or not as described, you must report it within 48 hours of delivery with photographic evidence.
• Do not accept the delivery if the package appears tampered with or damaged.

Upon verification, we will:

• Arrange for a reverse pickup at no cost to you.
• Provide a full refund including making charges, delivery charges, and GST, OR
• Offer a replacement product of equivalent value.
• Refunds will be processed within 7-10 business days after we receive and verify the returned item.

3.6 Refunds for Wrong Product Delivered

• If you receive a product different from what you ordered (e.g., wrong weight or design), please report it within 48 hours of delivery.
• We will arrange for a reverse pickup and either:
• Send the correct product at no additional cost, OR
• Re-credit the Digital Gold to your account and refund all charges.

3.7 No Refunds for Market Fluctuations

• We do not provide refunds for any losses incurred due to market price fluctuations.
• The price of gold is subject to market forces and can increase or decrease.
• You are solely responsible for your investment decisions.
• If you wish to exit your investment, you may use the Sell-Back feature at the prevailing market price.

3.8 Refund Processing Time

Note: The actual credit to your bank account may take an additional 2-3 business days depending on your bank’s processing time.

3.9 Refund Method

• All refunds will be processed to the original payment method used for the transaction.
• Refunds will be credited to the same bank account/card/UPI ID from which the payment was made through payment gateway.
• We do not provide refunds in cash or to a different payment method.