This Refund Policy applies to subscriptions to Loanbooq, operated by Generator Financial Services (Pty) Ltd ("we", "us", or "our"). It is issued in accordance with the Consumer Protection Act 68 of 2008 (CPA) and the Electronic Communications and Transactions Act 25 of 2002 (ECTA).
1.1 New customers receive a free trial period of [NUMBER] days from the date of account activation. No payment is required during the free trial.
1.2 You may cancel at any time during the free trial without incurring any charge. Cancellation during the free trial means you will lose access to the Service at the end of the trial period.
1.3 If you do not cancel before the end of the free trial, your subscription will automatically convert to a paid plan and your payment method will be charged.
2.1 Loanbooq is offered as a monthly subscription, billed in advance at the beginning of each billing cycle.
2.2 By providing your payment details and subscribing, you authorise us to charge your payment method on a recurring monthly basis until you cancel.
2.3 You will receive an invoice by email for each successful payment.
3.1 You may cancel your subscription at any time by:
3.2 Cancellation takes effect at the end of your current billing period. You will retain full access to the Service until that date. No further charges will be made after cancellation.
3.3 Cancellation does not entitle you to a refund for the current billing period already paid, except as set out in clauses 4 and 5 below.
4.1 Billing errors: If you are charged incorrectly due to a technical or administrative error on our part, we will refund the overcharged amount in full within 7 business days of the error being confirmed.
4.2 Service unavailability: If the Service experiences unplanned downtime exceeding 24 continuous hours in a calendar month due to reasons within our reasonable control, you may request a pro-rata credit for the affected days. Such credits will be applied to your next invoice.
4.3 Goodwill refunds: We may, at our sole discretion, issue partial refunds in exceptional circumstances where a customer has been significantly disadvantaged. This is assessed on a case-by-case basis and does not constitute a legal obligation.
4.4 No refund for partial use: We do not provide refunds for partially used subscription periods where the Service has been available and accessible.
5.1 In accordance with section 44 of the Electronic Communications and Transactions Act 25 of 2002 and the Consumer Protection Act 68 of 2008, if you subscribed to Loanbooq as a result of direct marketing (including unsolicited email, telephone, or other direct communications), you have the right to cancel the agreement within 5 (five) business days of entering into the agreement, without penalty and without giving any reason.
5.2 To exercise this cooling-off right, notify us in writing at support@loanbooq.com within the 5-business-day period. If you have already been charged, we will refund the amount paid within 15 business days.
5.3 For clarity, this cooling-off right applies only where the subscription was concluded as a result of direct marketing. It does not apply where you actively sought out and signed up for the Service of your own accord.
6.1 Approved refunds will be processed to the original payment method used at the time of purchase.
6.2 Processing times depend on your payment provider but are typically completed within 5–10 business days of approval.
6.3 We are not responsible for any delays caused by your bank or card issuer.
The following are not eligible for refunds:
We may update this Refund Policy from time to time. Changes will be communicated via email or within the Service at least 30 days before taking effect. Your continued use of the Service after changes take effect constitutes acceptance of the updated policy.
For refund requests or questions about this policy, please contact: