Refunds
If you're using ShopWired Payments and you issue a refund for a transaction, the amount for the refund is deducted from your next available payout that isn't already in transit to your bank.
In most cases, refunds will take around 2 working days to be processed by ShopWired Payments, after which time an Acquirer Reference Number (ARN) is available. Refunds can take up to 10 working days to appear on your customer's bank statement.
The ARN can be used by a credit/debit card provider to trace a transaction, so if a customer hasn't received their refund (after 10 working days have elapsed) you can provide them with the ARN and ask them to contact their card issuer.
Refunds where you don't have sufficient payout balance
If you process a refund and there isn't sufficient balance in your ShopWired Payments account to cover the amount of the refund, ShopWired Payments will attempt to collect the funds from your bank account.
If the debit processes successfully, the refund will then process once the funds have been received into your ShopWired Payments balance.
If the debit does not process successfully, the refund will not be processed and we'll automatically attempt the transaction again in 3 working days. If this fails, you'll need to change your bank account.
Processing a refund
To process a refund on an order processed with ShopWired Payments, you'll need to navigate to the transaction page.
Enter the refund amount and select a reason for the refund from the drop down list. Click the 'create refund' button and the refund will be processed in accordance with the schedule above.
An entry noting the refund will appear in the transaction timeline (shown at the bottom of the transaction page) and within around 2 working days, a new entry will appear in the timeline when an ARN becomes available.
Failed refunds
Sometimes, a refund may fail to process successfully (for example if the customer closes their account with their debit/credit card provider and the provider no longer accepts refunds for transactions.
When a refund fails, it can take a few days for ShopWired Payments to be notified by the card provider. However, when ShopWired Payments is notified, an entry will appear on the transaction timeline informing you that the refund has failed to process.
When a refund fails to process, it is not possible to attempt a refund again and you will need to refund the customer via another method (e.g. bank transfer). However, please be cautious about issuing refunds to a source that is not the original payment method. ShopWired Payments is not liable for any fraud that you experience on your account.
ShopWired Payments fees and refunds
When you refund a transaction, fees charged for the original transaction are not refunded by ShopWired Payments. However you can issue a refund to the customer for the full value of the transaction.