[New] Square Refund Policy Update

[sashafatl]

Hi Sellers! 👋

We wanted to inform you of an upcoming change to Square’s refund policy which will be effective as of April 11, 2023. 

Occasionally, we update our policies and pricing for our products to better align to evolving costs from our network and payments partners. In these scenarios, we make pricing changes so that we can invest in our platform, create new features, and continue expanding the value Square provides to sellers like you.  

Processing fees will no longer be refunded to your account when you issue full or partial refunds to your customers.

We are making this change to reflect that Square incurs processing fees from our network and payments partners in instances of refunds, and to match current industry standards. You do not need to take any action and there will be no change in the experience for your customer. 

You may wish to update your return policy for your customers in order to account for this policy change. We recommend visiting our Return Policy Guide & Templates for guidance on how to create a return policy that works best for your business. You can also find additional information on the refund process through Square by visiting our Help Center. 

In addition, we've modified language in our taxes and indemnities provisions in the Square General Terms of Service and Square Payment Terms related to our legal obligations.

Read more about the upcoming pricing and policy changes here ›

Thank you for selling with Square.

[LukeNieuw]

ya, this sucks. I hate when I hear "Industry Standards"

You guys set standards. Don't follow the other losers.

I have to give refunds quite a bit because we push the majority of our bookings as pre-paid (more card transactions!). And because we are weather dependent we can see cancellations happen outside our cancellation policy window so we give full refunds.

Based on last year This is going to cost me close to an extra $1k in fees on money I never see.