Are there fees for issuing a refund?

[ra2]

We have a customer that is not going to move forward with a service with our company but we have collected a deposit via her credit card on square that we now need to return.  Are the fees reversed when we issue her a credit, additionally are there any other fees assessed in doing the credit?

[ecantiques5]

Yes, anytime that you issue a refund within 120 days of payment Square will refund your associated fees with refunded amount. No other fees will be assessed.

[ecantiques5]

@Chad

Thanks Chad for the " best answer " check!  Have a great weekend!

[MountainWisdom]

I also saw the 120 days here:

https://squareup.com/help/us/en/article/5615?utm_content=help-center&utm_source=dashboard&utm_medium...

However, I saw 60 days here:

https://squareup.com/help/us/en/article/6116

It's mentioned in the video right after 0:38 mark.

Is the video just outdated or is it referring to something else like transactions made through the app or keyed-in transactions (vs. online transactions sent to customer's email & paid by them through an invoice)?

Which one is true, 60 or 120 days (to process a refund and get the transaction fees back, too)?

thanks!

[Chad]

Hello @MountainWisdom, welcome to the Seller Community! 

You have quite the keen eye! So the time frame to refund a transaction is 120 days. The video you flagged is out of date. I'll make sure to have our Content Team update it. 

Please let me know if you have any other questions! 

[cguchek]

I issued a refund for $39.95 yesterday. Today I see one e-mail from Square that says The $39.95 refund you requested has been processed and should be reflected on your customer's statement in two to seven business days. Then I got a message that said We’re reaching out to let you know that your bank account  will be debited in the amount of $38.55. Does this mean my customer is not getting the $39.95 but $38.55? That's not right. If that's the case, I know I'm going to hear from a very upset person. From what I've read, there should be no fee deducted because this sale was only made on 3/16 and refunded yesterday, 4/9. Even if there is a fee, shouldn't that be added to the amount deducted from my bank account? It appears that my customer is getting less than I said I'd refund.

[MountainWisdom]

Most likely, when you charged customer $39.95, you got $38.55 after Square fees. In that case, your refund will result in you getting debited that $38.55 you got (because that is what you got from Square after Square fees) and the customer will get their $39.95 (exactly what they paid) and Square will not get any transaction fees (that is, your transaction fees are reversed automatically & fully). If this answer is right, it is all good.

[cguchek]

Oh....I hadn't thought of that.  Thanks so much for clarifying.

[RandR]

If a person purchases one of our higher priced item the transaction fee can be about 25.00. If they return the item, they get a refund but do we also get the  transaction fee of $25.00 refunded to us? 

[Joe · Accepted solution]

Hi there, @RandR! Sorry for the confusion.

When a refund is issues, the entire amount (fee included) is returned to the customer. In other words, the customer receives their full amount that they payed and you are not charged anything.

Let me know if you have any other questions!

[RandR]

Thank you.

[Joe]

@GlassJudy Truth!! 🍻📈

[Wesley70]

When I refund a sale do I still have to pay the processing fee?

[GlassJudy]

Not only will you not have to pay processing fees for a refund, you get the original processing fees returned to you, and your customer still gets their entire purchase amount returned.  That's one of the benefits of using Square.

[kadafie1]

#The title of this thread has been edited from the original: is there a charge to reverse a charge?

is there a charge to reverse a charge if I do it right away?

[JustinC]

Welcome @kadafie1! 

There are no additional fees when issuing a refund 🙂

[atp]

good morning,

If I issue a refund to a customer, am I credited back the Square % and transaction fees that were originally charged to me for the transaction?
Thanks

[Valentina]

I've moved your post over to this thread, @atp - the processing fees that were charged to you will be returned to you when you issue a refund to a customer through Square. Hope this helps!

[TheHatchery]

I am unclear how to determine the fees I am getting charged for refunds. If I have a sale for $100 and refund $20, am I charged the same as if I had a sale for $120, or the same as I had a sale for $80?

[USEagle]

When the seller sells a product for $100 with Square.  There will be a 2.9% +0.3 USD fee. So there will be a $3.2 ($2.9+$0.3) charge from the $100. Actually, the seller receives $96.8 Am I right?

Once the customer requests a $100 refund.  When I refund $100, will I get my associated fee back from $2.9?

Thanks

[USEagle]

When the seller sells a product for $100 with Square.  There will be a 2.9% +0.3 USD fee. So there will be a $3.2 ($2.9+$0.3) charge from the $100. Actually, the seller receives $96.8 Am I right?

Once the customer requests a $100 refund.  When I refund $100, will I get my associated fee back from $2.9?

Thanks