Understanding our refund and redemption procedures for mutual fund investments.
Last updated: February 2025. This Refunds Policy explains how WealthUpp handles redemptions and refunds in relation to mutual fund investments facilitated through our platform.
WealthUpp facilitates investments in mutual funds. Redemptions (withdrawals) from your mutual fund holdings are processed as per the guidelines of the respective Asset Management Companies (AMCs) and SEBI regulations. Redemption requests are typically processed within 1-3 business days (T+1 to T+3) depending on the fund type.
Mutual fund investments are market-linked products. Once your investment is processed and units are allotted, the transaction cannot be reversed or refunded. The value of your investment will fluctuate based on the Net Asset Value (NAV) of the fund. You may redeem your units at the prevailing NAV, subject to any exit load as specified in the scheme document.
In case of failed transactions due to insufficient bank balance, mandate issues, or technical errors before the investment is processed, the amount will not be debited from your account. If the amount was debited but the transaction failed, we will initiate a refund to your registered bank account within 5-7 business days after verification.
You may pause, modify, or cancel your Systematic Investment Plan (SIP) at any time through the app. Changes take effect from the next billing cycle. No refunds apply to SIP instalments already invested; those remain in your portfolio as mutual fund units.
WealthUpp does not charge upfront fees for using our platform. We receive a trail commission from the AMC (approximately 1% per annum on assets) which is already factored into the fund NAV. There are no separate platform fees to refund.
Certain mutual fund schemes may levy an exit load if you redeem within a specified period (e.g., within 1 year). The exit load is deducted by the AMC and is as per the scheme's offer document. WealthUpp does not control or receive exit loads.
If you have any concerns regarding a transaction, redemption, or believe an error has occurred, please contact our support team at support@wealthupp.com or call +91 9059 555 126. We will investigate and respond within 5-7 business days.
Email:support@wealthupp.com
Phone: +91 9059 555 126
Address: #301, NSIC Building, ECIL, Secunderabad, Telangana – 500062