Cancellation & Refund Policy

Last updated : 25th May 2026.

Welcome to Velox by Prem Gold Private Limited. This Cancellation & Refund Policy outlines our policy regarding cancellations, refunds, and transaction-related issues for gold purchases made through our platform.
Please read this policy carefully before making any purchase

1. Non-Cancellation Policy :
a) Final Transactions -
- The gold price applicable to a transaction shall be the price displayed and locked at the moment the payment is successfully confirmed by the platform. Price fluctuations occurring before or after successful confirmation shall not affect the completed transaction. - Once a gold purchase order is placed and successfully confirmed, it cannot be canceled, modified, or reversed.
- All gold purchase transactions made through the Velox Gold application are considered final.

b) User Responsibility -
- Users are responsible for reviewing all transaction details, including amount, payment information, and gold quantity, before confirming the purchase.
- Velox Gold shall not be responsible for incorrect transactions initiated by users.

2. Non-Refundable Policy :
a) Due to the nature of gold pricing and live market fluctuations, all gold purchases are non-refundable.
b) Refunds will not be provided for completed gold purchase transactions, except where required under applicable law.
c) Velox Gold reserves the right to temporarily withhold settlement, wallet credit, or refund processing where suspicious, fraudulent, unauthorized, or disputed transactions are detected pending verification.
D) Velox Gold shall not be liable for delays in settlement, wallet credit, reversals, or redemption caused by banking downtime, payment gateway outages, technical disruptions, force majeure events, or extraordinary market conditions.

3. Failed or Pending Transactions :
a) Payment Failure -
- In cases where payment is unsuccessful, no gold will be credited to the user’s Velox Gold Wallet.

b) Amount Deducted but Gold Not Credited
- If the payment amount is deducted from the user’s bank account but the gold is not credited due to technical or banking issues, users should contact customer support with transaction details.
- Eligible reversals or settlement updates will be processed according to the timelines of the respective bank or payment gateway provider.

c) For duplicate/multiple transactions
- In case of accidental duplicate deductions for the same transaction, Velox Gold shall investigate the transaction with the payment gateway and process reversal or wallet credit after verification.

d) Support requests related to transaction discrepancies should include transaction ID, registered mobile number, payment timestamp, and payment reference number, and screenshots attached for faster resolution.

4. Technical Issues :
a) Wallet or App Access Issues -
- If users experience technical difficulties while accessing or using the Velox Gold application or wallet services, they should contact our support team for assistance.

b) No Refund for Resolvable Technical Issues -
- Temporary technical issues, server downtime, connectivity problems, or application errors that can be reasonably resolved by our support team shall not be considered grounds for refunds or cancellations.

5. Physical Gold Coin Collection :
a) Eligibility for physical gold coin collection is subject to maintaining the minimum required gold balance in the Velox Gold Wallet.
b) Physical gold coin redemption may be subject to applicable making charges, minting charges, taxes, packaging costs, or operational processing fees, where applicable.
c) Once a physical gold coin has been collected from our office/showroom, the transaction related to that gold shall be considered completed and non-refundable.

6. Policy Updates :
a) Velox Gold reserves the right to update, modify, or revise this Cancellation & Refund Policy at any time without prior notice.
b) Any changes to this policy will automatically become effective immediately upon posting within the application or on our official platform.
c) Continued use of the platform after such updates constitutes acceptance of the revised policy.

7. Contact Information :
If you have questions or concerns about our Refund Policy, please contact us at support@veloxgold.com & visit our office - 1st Floor, 122, The Grand Central, Pune - Nashik Highway, Chakan, Maharashtra 410501