Last updated Wed, Oct 21, 2026.
1. Definitions
For the purposes of this Policy:
1.1 "Customer" means the person who initiated a payment through Radius.
1.2 "Beneficiary" or "Institution" means the third-party recipient of the original payment, including but not limited to universities, schools, government bodies, and other payees.
1.3 "Third-Party Refund" means funds returned by a Beneficiary that were originally paid through Radius on the Customer's behalf.
1.4 "Business Day" means any day other than a Saturday, Sunday, or public holiday in the Customer's country of residence.
1.5 "Radius Wallet" means the Customer's wallet in the Radius app.
1.6 "Refund Tracking Request" means the request a Customer submits in the Radius app under Section 6.
2. Scope and Nature of Service
2.1 A Third-Party Refund arises when a Beneficiary returns funds originally paid through Radius on the Customer's behalf. In such cases, Radius acts as an intermediary to return the funds to the Customer.
2.2 Refund processing through Radius is offered as a convenience and is not an entitlement.
2.3 The terms set out in this Policy apply to all Third-Party Refunds regardless of amount or timing.
3. Exchange Rate
3.1 All refunds are processed at the prevailing market rate on the date Radius confirms receipt of the funds, or on the date the refund is finalized, whichever applies.
3.2 Exchange rates fluctuate, and the rate applied at the time of the refund may not match the rate applied to the original payment.
3.3 Radius's processing and service charges on completed orders are non-refundable.
3.4 Where a refund is approved, only the underlying principal amount received from the Beneficiary is eligible for refund, subject to the deductions set out in this Policy.
4. Refund to Radius Wallet and Administrative Fee
4.1 All approved Third-Party Refunds are credited to the Customer's Radius Wallet.
4.2 A 5% administrative fee is deducted from the refund amount. This fee covers the operational, compliance, handling, and processing costs associated with international refunds.
5. Processing Timeline
5.1 Refunds are processed within 30 to 60 Business Days from the date Radius confirms receipt of the funds from the Beneficiary. Processing may take longer if issues arise with the Beneficiary, intermediary banks, or other third parties outside Radius's control. Where this happens, Radius will work with the Customer to resolve the issue within the scope of reasonable accommodations.
5.2 This timeline reflects the nature of international cross-border foreign exchange transactions, which involve multiple financial intermediaries and require time to settle. It also accounts for the time required for Radius to process the refund in compliance with applicable local and international fund transfer regulations.
5.3 Radius will notify the Customer in the app once the refund has been credited to their Radius Wallet.
6. Refund Process
Third-Party Refunds are handled in two steps.
Step 1: Arranging the Refund with the Beneficiary
6.1 The Customer must request the refund directly from the Beneficiary.
6.2 If the Beneficiary requires bank account details or any other information to process the refund, the Customer can request this information from Radius through in-app support.
6.3 Radius does not begin tracking a refund during Step 1. A refund that the Beneficiary has approved, initiated, or describes as "being processed" is not yet eligible for Step 2.
Step 2: Submitting a Refund Tracking Request
6.4 Once the Customer has received confirmation from the Beneficiary that the refund has been paid, the Customer must submit a Refund Tracking Request in the Radius app. Refund notifications sent by email are not accepted.
6.5 The Refund Tracking Request must include:
(a) the original completed order;
(b) the amount refunded by the Beneficiary, and in what currency;
(c) the date the Beneficiary advised that the refund was processed;
(d) the refund reference from the transfer advice, or the Acquirer Reference Number (ARN) for card refunds;
(e) official documentary proof of the refund issued by the Beneficiary or the Beneficiary's bank, meeting the requirements set out in Section 7.
6.6 For privacy reasons, Radius can only discuss account funds or transactions with the account owner. All Refund Tracking Requests must be submitted from the Customer's own Radius account.
6.7 Radius cannot begin tracking a refund with its partner banks until a complete Refund Tracking Request has been received. Delays in providing the required information may result in corresponding delays to the processing timeline set out in Section 5.
6.8 The Customer can view the status of their Refund Tracking Request in the Radius app at any time.
7. Acceptable Proof of Refund
7.1 A Refund Tracking Request under Section 6 is not complete until Radius has received valid documentary proof of the refund. An email, chat message, screenshot, or informal written statement from the Beneficiary confirming that a refund "has been issued" or "is being processed" does not, on its own, constitute valid proof.
7.2 Valid proof must take the form of an official document issued by the Beneficiary or the Beneficiary's bank. Acceptable documents include a bank refund or remittance advice, a SWIFT confirmation copy (for example, an MT103), a telex copy, or an official refund letter issued on the Beneficiary's letterhead.
7.3 The document must clearly show some or all of the following elements:
(a) the date the refund was processed or remitted;
(b) a transaction reference for the refund, such as the reference on the transfer advice, the Acquirer Reference Number (ARN) for card refunds, a SWIFT reference, or a Unique Transaction Reference (UTR);
(c) the amount refunded;
(d) the currency in which the refund was made;
(e) the name of the originating institution or bank that issued the refund;
(f) the name of the recipient or recipient account to which the refund was sent.
7.4 These elements allow Radius to identify and trace the returned funds with its banking partners. Without them, Radius cannot confirm that a refund has been issued, cannot match it to the original order, and cannot begin tracing the transaction.
7.5 Where the proof provided does not contain enough of these elements for Radius to locate the funds, Radius will treat the refund as unverified and will request further documentation before processing can begin.
7.6 Providing incomplete or unverifiable proof may result in delays to, or suspension of, the processing timeline set out in Section 5 until valid proof is received.
8. Customer Acceptance
8.1 Before submitting a Refund Tracking Request, the Customer must type their full name to confirm that they have read, understood, and agree to this Policy. The typed name serves as the Customer's agreement.
8.2 Radius records the typed name, the date and time of submission, and the version of this Policy the Customer agreed to.
8.3 Customers who do not accept the terms set out in this Policy must arrange any refund directly with the Beneficiary.
8.4 The terms governing refunds processed through Radius are non-negotiable, and Radius does not process Third-Party Refunds under any other conditions.
