Refund Policy
Welcome to ParkarSpot. Our goal is to provide a reliable and flexible parking experience. This policy outlines when refunds are applicable and how they are processed.
11. Customer Booking Cancellation & Refunds
Customers may cancel a paid booking through the ParkarSpot mobile application prior to the booking start time. Refunds are calculated automatically based on the cancellation time window:
- ✅ More than 1 hour before start time: 100% Full Refund credited to original payment method.
- ⚠️ Less than 1 hour before start time: 50% Partial Refund issued (remaining 50% compensates host for holding reserved slot).
- ❌ After slot start time / Customer No-Show: 0% (No Refund) as the parking space was held exclusively for the driver.
22. Host Cancellation / Rejection
If a Parking Space Host declines or cancels a booking after payment has been completed, the Customer will receive an automatic 100% full refund instantly.
33. Overstay Charges Policy
If a Customer remains parked beyond the confirmed booking end time:
- Overstay charges will accrue based on the Host’s hourly parking rate for the extra duration.
- The overstay balance will be billed via in-app notification and Razorpay payment link.
- Customers with unpaid overstay dues will be restricted from creating new bookings until all outstanding balances are cleared.
44. Refund Processing Timelines & Dispute Support
Approved refunds are initiated via Razorpay within 24 to 48 hours of cancellation. It typically takes 3 to 5 business days for the refunded amount to reflect in your original payment source (bank account, credit/debit card, or UPI wallet). If you experience booking glitches, incorrect charges, or access issues at a parking spot, please reach out to our support team: Email: support@parkarspot.com Website: parkarspot.com