Refund & Cancellation Policy

1. How payments work on MGbit

• When a property owner accepts a contractor’s quote, the project is split into payment milestones.
• The owner pays each milestone by card through Stripe Checkout. The first milestone is paid to start the project; later milestones are paid as the work progresses.
• MGbit holds each milestone payment. The contractor submits proof of completed work for that milestone, and the owner approves it or asks for a revision. If the owner does not respond by the review deadline shown in the app, the milestone may be approved automatically.
• After approval, MGbit pays the contractor. MGbit’s platform commission (currently 10% of the project total) is deducted from the contractor’s payout. Owners are not charged an additional platform fee.
• All amounts are in U.S. dollars.

2. Cancellations by property owners

• Before you pay the first milestone: you can cancel or withdraw a project at any time at no cost.
• After payment, before work starts: if you cancel before the contractor starts work on the paid milestone, you are eligible for a full refund of that milestone.
• After work has started: contact us. We will review the work completed and the materials purchased for that milestone, and we may refund all, part or none of the unreleased amount. We aim to reach a result that is fair to both parties.
• Released milestones: milestones that you approved (or that were approved automatically) and that have been paid out to the contractor are not refundable through MGbit, except where required by law or where we find fraud or misconduct.

3. Cancellations by contractors

If a contractor withdraws from a project or fails to perform, any milestone amounts that have not been released to that contractor will be refunded to the owner in full. MGbit may also suspend the contractor’s account.

4. Disputes about work quality

If you believe the work for a milestone was not completed as agreed, do not approve the milestone. Request a revision in the app and contact us before the review deadline. While a milestone is disputed, its funds stay on hold. MGbit will review the messages, photos and proof of work on the platform and decide whether to release the funds to the contractor, refund them to the owner, or split them. MGbit is not a contractor and does not guarantee the quality of any contractor’s work; see our Terms & Conditions.

5. How to request a refund

1. Email mgbit@mgbit.io or call 855-826-4248.
2. Include your account email, the project name, the milestone and the reason for the request.
3. We will respond within 5 business days and may ask both parties for more information.

Approved refunds are issued to the original payment card through Stripe. Stripe usually processes them within 5–10 business days, and your bank may take longer to post them. We do not issue refunds in cash or to a different card.

6. Chargebacks

Please contact us before filing a chargeback with your bank. We can usually resolve issues faster directly. If you file a chargeback, the related project may be paused and the contractor payout held until the chargeback is resolved.

7. Changes to this policy

We may update this policy. The version in effect when you made a payment applies to that payment. We will post the updated policy on this page and change the “Last updated” date.

8. Contact