A refund is the process of sending money back to a customer for a previously completed transaction. When a refund is issued, the funds are taken from the merchant’s account balance and credited back to the customer’s original payment method. Most processors, including Stripe, do not return the original transaction processing fees when a merchant issues a refund.
Frequently Asked questions (FAQs)
- How can I issue a refund with Charge for Stripe?
You can issue full or partial refunds for recent transactions directly from the transaction history screen within the Charge for Stripe app. You can also issue any refund from your Stripe Dashboard. - How long does it take for a customer to receive a refund?
Once you initiate the refund, it can take 5-10 business days for the funds to appear back on the customer’s statement, depending on their bank. - Do I get the processing fees back when I issue a refund?
No. Stripe, like most payment processors, does not refund the original processing fees. The fees cover the cost of the initial transaction, which was successfully processed, and there are costs associated with processing the refund itself.
Related terms: