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JRussellEnterpr

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

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

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Admin

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

Best Answer

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.

Message 2 of 12
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Admin

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

Best Answer

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.

Message 2 of 12
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JRussellEnterpr

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

Thank you for that information it was greatly needed.

Message 3 of 12
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wildcat

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

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

Message 4 of 12
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RHatch Super Seller

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

Yes,  the funds will be withdrawn from your bank account linked to Square.

Message 5 of 12
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mgentile

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

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!

Message 6 of 12
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RHatch Super Seller

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

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.

Message 7 of 12
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hawaiihomepro

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

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?

Message 8 of 12
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hawaiihomepro

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

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?

Message 9 of 12
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Admin

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

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.

Message 10 of 12
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