How Does Issue Refund Work?

[KLyons]

I have a transaction for a quest suite rental at the total amount of $1,750.00, I would like to refund the tenant for this transaction, If I select the refund option on this site where would the funds be returned to, the tenant's card that they used to pay the transaction, and if so how long will this transaction take? 

Thanks for your help in advance 

Karima Lyons

[email protected] 

[Minion · Accepted solution]

HI @KLyons 

Yes the refund would be issued back to the original form of payment that the customer used.  Most transactions and refunds will make 9-14 business days to clear.  While it may be sooner, I always suggest that stating the longer time and getting it in a shorter shorter amount of time  is better than saying shorter time frame and it taking longer. 

[Minion · Accepted solution]

HI @KLyons 

Yes the refund would be issued back to the original form of payment that the customer used.  Most transactions and refunds will make 9-14 business days to clear.  While it may be sooner, I always suggest that stating the longer time and getting it in a shorter shorter amount of time  is better than saying shorter time frame and it taking longer. 

[VanKalkerFarms · Accepted solution]

Minnion is correct, but I would like to add that the customer will receive all their money back; you will not receive the credit card transaction fee back on the transaction, as it has already gone through the system, and fees have been collected by Visa/Mastercard/etc.  

"When you refund a payment, the processing fees for the payment aren’t refunded back to you.
If the amount is available in your Square balance, the total is deducted from your balance. If it is not available in your balance, your linked bank account is charged the amount."
https://squareup.com/help/us/en/article/6116-process-refunds