Refund from square balance

[Neureum1]

When refunding I would like the refund to come off my square balance... up to now it seems that it always comes from the company bank account. How can this source of the refund be changed to square balance??

[Arie]

Hi @Neureum1 👋
 

Thanks for writing in with this question!

Are your transfers currently set up on a manual schedule, rather than automatic? If yes, this would be the reason your refunds are not coming out of your balance first. You can change your transfer settings here.

[Neureum1]

Hi Arie,

The way I see it is if I change the setting to Automatic there will be no balance left on the square account anyway... the idea behind what I am trying to do is leave enough money on the Square account to cover the damage deposits that we take for our accommodation.... looking at how Square is going to change the Bank charges it seemed logical to not have the damage deposit going back and forth to the bank.

[Arie]

I can definitely see where you're coming from, @Neureum1. At this time, we can only access your balance for refunds when automatic transfers are enabled. With automatic transfers, we send your funds to you on a next-business-day basis and any refunds issued would be subtracted from the amount available in your balance before making a debit on your bank account. 

[Neureum1]

Ah, so there lies the problem for us here.. We take a damage deposit that gets returned

a minimum of 2 days later... sometimes weeks later.  In any case the deposit has already 

been sent to the bank by Square if automatic transfers are used... meaning that it has to 

be withdrawn from the bank again.  And seeing the new policy re bank charges, we as 

a seller using Square are disadvantaged.

Is it not possible to have a "Refundable Deposit transaction(?)" possibility, that would not be

sent to the bank, but await full or partial return to the customer?

[Arie]

Even with the new refund policy, the transaction fee is deducted from your transfers and refunded back to your customer so they receive the full amount they paid, @Neureum1.