1. Introduction

This Refund Policy (“Policy“) explains when refunds may be available for products and services provided by Sparroz Group Ltd. (“Sparroz,” “we,” “our,” or “us“).

As a provider of regulated financial and payment-related services, many transactions processed through Sparroz involve third-party financial institutions, payment networks, currency exchange, and regulatory compliance requirements. Consequently, not all transactions can be cancelled or refunded once processing has begun.

This Policy forms part of the Sparroz Terms of Service and should be read together with any product-specific terms that apply to the Services you use.

2. Scope

This Policy applies to fees and payments relating to Services offered by Sparroz, including, where applicable:

• Payment services;
• Domestic and international money transfers;
• Multi-currency services;
• Virtual and physical payment cards;
• Account-related fees;
• Business payment services;
• Employer payment solutions;
• Subscription services;
• Digital products or educational services offered by Sparroz.

Certain products may be governed by separate refund terms. Where separate terms apply, those terms shall prevail for the relevant Service.

3. General Refund Policy

Because financial transactions are often processed immediately through regulated financial institutions and payment networks, payments are generally final once processing has commenced.

Unless otherwise required by applicable law, Sparroz does not guarantee that payments can be cancelled, reversed, or refunded after they have entered processing.

Refund requests are reviewed individually based on:

• the type of Service;
• the processing status of the transaction;
• applicable legal requirements;
• contractual obligations;
• third-party payment network rules; and
• the specific circumstances of the request.

Submission of a refund request does not guarantee approval.

4. Transactions That May Be Eligible for a Refund

Subject to applicable law, a refund may be approved where:

• Sparroz charged you in error;
• duplicate payments were processed due to a technical error attributable to Sparroz;
• payment was accepted but the requested Service could not be provided due solely to an internal failure by Sparroz;
• funds were received by Sparroz but the transaction could not legally or technically be completed before entering the banking or payment network;
• applicable consumer protection laws require a refund.

Each request is assessed individually.

5. Transactions That Are Normally Not Refundable

Unless required by applicable law, refunds will generally not be available where:

• the requested Service has already been delivered;
• payment processing has commenced;
• funds have entered the banking system or a payment network;
• currency conversion has already been completed;
• the recipient has received the funds;
• incorrect beneficiary information was provided by the customer;
• the customer authorized the transaction and later changed their mind;
• delays resulted from intermediary banks or payment providers;
• exchange rate fluctuations reduced or increased the final amount;
• third-party financial institutions imposed charges;
• Services were interrupted due to regulatory reviews;
• the customer breached the Terms of Service;
• the transaction was restricted or declined for compliance reasons.

6. International Money Transfers

International transfers often involve correspondent banks, local clearing systems, payment processors, and regulatory reviews.

Once an international payment has entered processing, Sparroz cannot guarantee that it can be stopped or recalled.

Where a recall request is technically possible, Sparroz may, at its discretion, attempt to assist.

However:

• recovery is not guaranteed;
• recipient consent may be required;
• intermediary banks may refuse the recall;
• additional recall or investigation fees imposed by third parties may apply.

Sparroz is not responsible for losses resulting from unsuccessful recall attempts.

7. Currency Exchange

Foreign exchange transactions are generally irreversible once executed.

Where a refund is approved after a currency conversion has taken place:

• the refund may be converted using the exchange rate applicable at the time of the refund;
• the refunded amount may differ from the original payment amount;
• exchange rate gains or losses are borne by the customer unless otherwise required by law.

8. Card Services

Fees relating to payment cards, including:

• card issuance;
• replacement cards;
• expedited delivery;
• premium card features;
• optional card services,

are generally non-refundable once the relevant Service has been performed.

Unauthorized card transactions are handled separately under applicable law and the applicable Cardholder Terms and Conditions.

9. Subscription Services

Where Sparroz offers recurring subscription services:

• subscription fees are billed in advance;
• cancellation prevents future billing only;
• previously paid subscription fees are generally non-refundable once the subscription period has commenced.

If local law provides a mandatory cooling-off period or cancellation right, Sparroz will honor those legal requirements.

10. Digital Products and Educational Services

If Sparroz offers digital products, online courses, downloadable materials, or other digital content:

• purchases are generally non-refundable after access has been granted;
• refunds will only be considered where required by law or where Sparroz determines that exceptional circumstances exist.

Technical problems that prevent access should be reported promptly so that Sparroz has an opportunity to resolve the issue before a refund is requested.

11. Compliance-Related Delays

Financial institutions are legally required to perform compliance reviews.

Transactions may therefore be delayed while Sparroz or its regulated partners conduct:

• AML reviews;
• KYC verification;
• sanctions screening;
• fraud investigations;
• regulatory reporting obligations.

Such reviews do not create an entitlement to compensation or a refund.

12. Chargebacks

If you believe that a payment was processed incorrectly, we encourage you to contact Sparroz before initiating a chargeback through your card issuer.

If a chargeback is initiated:

• Sparroz may temporarily suspend the relevant account or Service;
• evidence supporting the transaction may be provided to the issuing bank;
• fraudulent, abusive, or repeated unwarranted chargebacks may result in account restrictions or termination.

Nothing in this Policy limits your statutory rights to dispute unauthorized transactions.

13. Refund Method

Where a refund is approved, Sparroz will generally return the funds using the original payment method.

If this is not reasonably possible, Sparroz may use another lawful payment method after completing any required identity verification.

Refunds will only be issued to the original payer unless otherwise required by law.

14. Refund Processing Time

Approved refunds are generally initiated within 5–10 Business Days.

Actual receipt of funds depends upon:

• banking systems;
• payment networks;
• card issuers;
• correspondent banks;
• local clearing systems.

Processing times outside Sparroz’s control are not guaranteed.

15. How to Request a Refund

Refund requests should include:

• full name;
• registered email address;
• transaction reference number;
• payment date;
• payment amount;
• reason for the request;
• supporting documentation where applicable.

Sparroz may request additional information before making a decision.

16. Fraud Prevention

To protect customers and comply with applicable financial regulations, all refund requests are subject to verification.

Refunds may be refused where Sparroz reasonably believes that the request involves:

• fraud;
• attempted fraud;
• money laundering;
• sanctions evasion;
• identity theft;
• misuse of the Services;
• false or misleading information.

Where legally required, relevant information may be disclosed to competent authorities.

17. Consumer Rights

Nothing in this Policy excludes or limits any mandatory rights that customers may have under applicable consumer protection laws.

Where local legislation grants customers greater rights than those described in this Policy, those mandatory legal rights shall prevail.

18. Changes to this Policy

Sparroz may amend this Refund Policy from time to time to reflect:

• changes in law;
• regulatory requirements;
• operational improvements;
• new Services;
• changes in payment network rules.

The latest version will always be available on our website.

19. Contact Information

Questions regarding this Refund Policy or refund requests may be submitted to:

Sparroz Group Ltd.

Registered Office:
11th Floor, 20 Bay Street
Toronto, Ontario M5J 2N8
Canada

Company Registration Number: 1001425871

MSB Registration Number: N300000953

Email: support@sparroz.io

Website: www.sparroz.io