thread Re: How long will it take to refund a credit card transaction? in Archived Discussions (Read Only)

How long will it take to refund a credit card transaction?

JRussellEnterpr — Thu, 29 Jun 2017 18:52:36 GMT

I wanted to know how long will it take to refund money that was paid on a credit card.
Does it do it immediately?

Re: How long will it take to refund money on a card?

Russell — Fri, 30 Jun 2017 00:14:37 GMT

Hi @JRussellEnterpr 👋 thanks for making your first post to the community!

The refund timeline is a little bit different from the payment timeline. It can take 2-7 business days to process a refund when using Square Point of Sale. Once the refund is processed and sent to your customer’s card issuer, the funds can take another 2-7 business days depending on how your customer's card issuer processes the refund.

In total, it can take 9-14 business days for your customer to see the refund post to their payment card account.

Re: How long will it take to refund money on a card?

JRussellEnterpr — Fri, 30 Jun 2017 00:09:38 GMT

Thank you for that information it was greatly needed.

Re: How long will it take to refund a credit card transaction?

wildcat — Wed, 27 Dec 2017 12:51:21 GMT

Will refund be credited to customers credit card if we do not have sales for 2 weeks?

Re: How long will it take to refund a credit card transaction?

RHatch — Wed, 27 Dec 2017 14:20:49 GMT

Yes, the funds will be withdrawn from your bank account linked to Square.

Re: How long will it take to refund a credit card transaction?

mgentile — Mon, 26 Feb 2018 15:21:43 GMT

My question is two parts.

1. Can there be a partial amount refunded to the customer?

2. Are there any additional fees associated with a credit card refund?

Thank you!

Re: How long will it take to refund a credit card transaction?

RHatch — Mon, 26 Feb 2018 16:33:42 GMT

Yes you can do a parcial refund. If the customer purchased multiple items and are only returing one then just that item will be refuned.

No there are no fees for returns. In fact your fees will be credited back if the return is done withing the return window.

Re: How long will it take to refund a credit card transaction?

hawaiihomepro — Fri, 21 Dec 2018 00:33:20 GMT

So if we charge a deposit for a short term rental and later refund the money back to them upon they checked out, we can do it and just need to take about 14 days for them to see it on their cards?

Taking deposit for short term rental Re: How long will it take to refund a credit card transaction?

hawaiihomepro — Fri, 21 Dec 2018 00:35:33 GMT

So if we charge a deposit for a short term rental and later refund the money back to them upon they checked out, we can do it and just need to take about 14 days for them to see it on their cards?

Re: Taking deposit for short term rental Re: How long will it take to refund a credit card transa...

puka — Sat, 22 Dec 2018 18:03:08 GMT

Hey @hawaiihomepro - Yup, it can take between 9-14 business days for a refund to post to your customer's account dependent on how fast their bank processes it. You can learn more at our Refund Overview.

How long does it take to send a refund

Louie1953 — Sun, 10 Feb 2019 23:48:41 GMT

How long does it take for a customer to get the refund back

Re: How long does it take to send a refund

VanKalkerFarms — Mon, 11 Feb 2019 16:34:48 GMT

The process starts immediately, they should see it within minutes and up to 14 days in worst case scenarios of banks and bank holidays etc.

https://squareup.com/help/us/en/article/5615-refunds-faqs

What is the timeline for a refund processed with Square?

gbibeault — Sun, 27 Oct 2019 00:50:37 GMT

This comment was created from merging the thread "WHY DO REFUNDS TAKE SO LONG??"

I have a customer who is due a $2500 refund which I put through on October 18th. She still has not received it and it is end of day on October 24th!! Crazy! 7 days and 5 of them business days.

The online FAQ says that refunds can take 9-14 BUSINESS DAYS which reminds me of stagecoach days.
Seriously!??
In the world of online banking a refund to a card takes 2 weeks?!?!

Has anyone else had this problem?? This might drive me to one of the many other online payments platforms. Ridiculous!

Please share your experience with me.

Thank you!

Re: WHY DO REFUNDS TAKE SO LONG??

Valentina — Sun, 27 Oct 2019 00:51:28 GMT

Hi there @gbibeault - I've moved your question here so that you can see the answers posted by Russell and Puka in this thread. I worked in retail for years as a store manager, and can definitely empathize with this frustration - hopefully I'm able to provide some context so that this makes more sense.

You are absolutely correct - we advise that it typically takes between 2 and 7 business days to process refunds on our side, and then allow for another 2 to 7 business days for the bank to process and post the funds. It is atypical for refunds to take 2 weeks to be visible to your customers, but can happen, especially with smaller banks or credit unions.

The tricky part is that we work with many different banks, all of which have different processes (and speeds) for moving money. I've seen many, many refunds processed by Square within one business day. However, once we send a refund to the bank, it is up to the bank to post the refund to your customer's bank.

How long does it take for a refund to process?

Lynnevegas23 — Tue, 26 Nov 2019 15:18:38 GMT

The title of this post has been changed by a moderator from: "Refund hours later" to: "How long does it take for a refund to process?"

If I took a charge at noon and refunded it eight hours later will it have to wait go into my bank account and then come back out or would it be like there was never a charge?

Re: How long does it take for a refund to process?

nika — Tue, 26 Nov 2019 15:22:19 GMT

Hi @Lynnevegas23! I moved your question to this thread so you can take a look at the refund timeline.

In regards to where the refund funds are pulled from, we'll first look to your Square balance. If the funds aren't available there, we'll pull from your linked bank account to cover the refund. You can learn more about the refund process here.

How long does a refund to PayPal take? I refunded Nov23 and it’s still not to the customer!

SCsmallbusiness — Thu, 12 Dec 2019 04:06:54 GMT

A customer paid money and I had to refund it. She paid with PayPal. It appears the refund went through on my end, however she has yet to receive it. I refunded on November 23 and it is now December 11. What happened to the money? I don’t have it and neither does she.

Hi, I accidentally charged a client to much, I sent a refund how long will this take

Tawannahumphrey — Thu, 12 Dec 2019 22:08:05 GMT

Hello I charged a client too much but realized it and refunded it back, how long will refund take?

Re: Hi, I accidentally charged a client to much, I sent a refund how long will this take

Joe — Fri, 13 Dec 2019 18:00:09 GMT

Hi there, @Tawannahumphrey! Thanks for asking your question here on the Seller Community. We are happy to have you!

I've gone ahead and merged your question with a thread of Sellers who asked similar questions. This best answer by Russell will be helpful in determining a refund timeline.

Let me know if you have any questions!

renfunf not received

kdeaenterprises — Thu, 23 Jan 2020 21:26:15 GMT

my client has not received his refund. we processed the refund on $5,000.00 REFUND ORIGINAL PURCHASE Custom Amount Online Transaction $5,000.00 Total $5,000.00 Jan 14 2020 at 6:58 PM Auth code: 03725G RETURN