Refund Process: Mandatory Tele-Verification for Bank Detail Confirmation

Overview

As of April 1, 2025, the refund process includes a mandatory tele-verification step to confirm bank details before any refund is processed. This change ensures greater accuracy and security when issuing refunds. Tele-verification must be completed with an authorized treasury contact after refund approval is granted. The process requires coordination between the Customer Support (CS) team, the 24/7 team, and the designated tele-verification contacts.

Solution

To comply with the new refund workflow, follow these steps:

1. Initiate the Refund Request:

   • The CS team creates a CFIN JIRA issue (Treasury Team Request) to initiate the refund process.

2. Approval Process:

   • The 24/7 team performs due diligence and requests refund approval.

   • Once approved, the approval must be documented in the Refund Sheet.

3. Customer Instruction for Verification:

   • After approval, the 24/7 team updates the CFIN case to instruct the customer to complete tele-verification of bank details with the treasury team.
     
     

4. Tele-Verification:

   • The customer must call one of the following for bank detail verification:

     • Treasury VP (Ludel Mier): +1 254 255 4930 (Available 11:00 AM to 11:30 PM ET on weekdays)

     • 24/7 Manager (Keval Karani): +91 9167378084 (Available 10:00 AM to 10:00 PM IST on weekdays)

   • Tele-verification will be documented by Ludel and Keval in Refund Sheet.

5. Refund Processing:

   • Before re-opening the treasury ticket, the CS team must ensure the following:

     • Refund approval is properly recorded in the Refund DS.

     • Verified bank details are documented in proper banking format or received via email.

     • Completion of tele-verification is confirmed and documented in Column Q here.

PR Format:

Dear Customer,

To ensure the accuracy and security of your financial information, we now require a tele-verification of your bank details before we can process your refund.

Please reach out to one of the following representatives during their available hours to complete the verification:

• Ludel Mier: +1 254 255 4930
  Available: 3:00 PM – 3:30 AM GMT (weekdays)

• Keval Karani: +91 9167378084
  Available: 4:30 AM – 4:30 PM GMT (weekdays)

Once your bank details have been successfully verified, please let us know so we can proceed with your refund.

If you have any questions or need assistance, don’t hesitate to get in touch.

Best Regards,

Central Finance Support Team

Reference Documentation

• Refund DS (access internal system for approvals and documentation)