Madakkimala Service Co-operative Bank Ltd. does not provide refunds & cancellations as we are a primary agricultural co-operative credit society and require use of a payment gateway to receive loan repayments from our customers.

Amounts once paid through the payment gateway shall not be refunded except in the following circumstances:

• Multiple debiting of the customer's card/bank account due to a technical error, or the customer's account being debited with an excess amount in a single transaction due to a technical error. In such cases, the excess amount (excluding payment gateway charges) will be refunded to the customer.
• Due to a technical error, payment is charged on the customer's card/bank account but the transaction is unsuccessful.

The customer must make an application for a refund along with the transaction number and the original payment receipt (if any) generated at the time of payment. The application in the prescribed format should be sent to madakkimalascb@gmail.com. The application will be processed manually and after verification, if the claim is found valid, the excess amount received will be refunded by Madakkimala Service Co-operative Bank Ltd. through electronic mode in favour of the borrower and confirmation will be sent to the mailing address provided to us. Refund processing will be completed within a period of 7 calendar days on receipt of such a claim. It may take 3–7 days for the money to reflect in your bank account depending on your bank's policy.

When we are not responsible

Madakkimala Service Co-operative Bank Ltd. assumes no responsibility and shall incur no liability if it is unable to affect any Payment Instruction(s) on the Payment Date owing to any one or more of the following circumstances:

• The Payment Instruction(s) issued by you are incomplete, inaccurate, invalid, or delayed.
• The Payment Account has insufficient funds or limits to cover the amount mentioned in the Payment Instruction(s).
• The funds available in the Payment Account are under any encumbrance or charge.
• Your bank refuses or delays honoring the Payment Instruction(s).
• Circumstances beyond the control of Madakkimala Service Co-operative Bank Ltd., including but not limited to fire, flood, natural disasters, bank strikes, power failure, system failures (e.g., computer or telephone line breakdowns) or other unforeseeable causes or outside interference.

In case a payment is not effected for any reason, you will be notified about the failed payment by e-mail.

Account suspension or termination

The user agrees that Madakkimala Service Co-operative Bank Ltd., in its sole discretion, for any or no reason, and without penalty, may suspend or terminate an account (or any part thereof) or use of the Services and remove and discard all or any part of an account, user profile, or recipient profile, at any time. Madakkimala Service Co-operative Bank Ltd. may also, in its sole discretion and at any time, discontinue providing access to the Services, or any part thereof, with or without notice.

The user agrees that any termination of access to the Services or any account they may have (or portion thereof) may be effected without prior notice and that Madakkimala Service Co-operative Bank Ltd. may pursue any remedies available at law or in equity. Upon termination for any reason, the user agrees to immediately stop using the Services.