How do refunds affect settlements?
Refunds impact settlements based on the settlement status of the original transaction. Transactions not yet settled at the time of the refund will not affect forthcoming settlements, as these amounts were never included in your settled funds. On the other hand, refunds issued for already settled transactions will be deducted from future settlement amounts. This ensures your financial records accurately reflect the net activity, including refunds. Our system manages these adjustments automatically, aiding easier reconciliation of your accounts.
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How long do refunds take?
Refunds are usually completed in T+ (3-14).
Is there a limit to the number of refunds a merchant can do?
No, there are no limits to the number of refunds a merchant can initiate.
What is the transfer threshold for international settlements?
There is currently no limit on the amount that can be withdrawn. Your limit is only tied to your type of account and verification levels.
Updates to our privacy policy
From time to time, we may change, amend or review this privacy policy document to reflect new services or changes in our privacy policy and place any updates to same. All changes made will be posted on our website and where changes will materially ...
What is a Refund?
A refund entails the process of reimbursing funds to a customer who has expressed dissatisfaction with their purchase, whether due to receiving a defective item, cancelling their order, or encountering issues such as incorrect or unauthorised ...