⚠️ New Feature - Limited Access. For more information, email us at support@rvvup.com
How do Pay by Bank refunds work?
Pay by Bank refunds are initiated as soon as the request is received. If there are not enough funds in your account balance, the refund will be marked as pending for up to 3 days to allow funds to accumulate. During the pending period, disbursements will be paused. If the funds are not available after three days, the refund will fail. Refunds are disbursed to the customer from the account balance shortly after the refund is initiated. There is currently no way to cancel a pending refund or add funds manually.
When I refund my customer - where do the funds come from?
A refund is disbursed to the customer from your account balance shortly after it is initiated.
When is a refund processed?
As soon as you say so.
Rvvup Pay by Bank refunds are sent back to your customer almost as soon as you initiate them. This refund reduces the total of that day’s disbursement if the requested refund amount is less than OR equal to the account balance at the time of the request.
This is a benefit for your customer, as it could provide them with a quick refund. Assuming it is successful, the typical time for a refund to get to your customer is only a few hours from when it is sent.
How much can I refund through Pay by Bank?
You can refund up to the original payment amount, either in a single full refund or through multiple partial refunds. However, the total refunded amount cannot exceed the original payment.
I got a message telling me that my refund is Pending.
In this case, the refund you requested wasn’t issued because there weren’t enough funds in your account balance.
When this happens, the refund is placed into Pending status for up to 3 days to allow the opportunity for funds to accumulate so the refund can complete.
Note: During the pending period, your disbursements will be paused.
How do I identify which refund is Pending?
You can identify a Pending refund by logging into the Rvvup Dashboard:
- Head to the Orders section via the left sidebar
- From there you can select individual transactions and expand them for more details
- The bottom-right in the expanded drawer view will reveal the status (be it marked Pending, Approved, or Failed)
Currently, there’s not a way to search for Pending (or Failed) refunds in the Rvvup Dashboard. However - transaction search within the Rvvup Dashboard (including refunds) is coming very soon - and we’ll let you know as soon as it is operational.
In the meantime, the best way to view the status of a refund at the moment is within your plug-in’s dashboard.
If my refund is Pending, can I add funds myself to my account balance so the refund will complete faster?
Yes! Please send a request to support@rvvup.com and our Support team can help provide instructions on how to send funds over to top up your balance. Once the funds are added, pending refunds will be able to continue processing back to your customer.
If a refund is Pending, can I cancel it?
At this time, there’s no way to cancel a Pending refund.
If the amount of the refund accumulates (through customer payment), the refund will complete and the customer will receive their funds shortly after.
However, if 3 days pass and the funds are not available in your account balance, the refund will move to Failed status.
What does it mean if my refund has been marked Failed?
A refund will be updated to Failed once it has been pending for three days due to an insufficient balance.
In this case, the refund was re-attempted for 3 days before it was moved to Failed status.
Your next step: If you still need to issue the refund, you should request another when you’ve got the appropriate funds in your account balance.
What does it mean if I don't see the refund button on a Pay by Bank payment in WooCommerce/Magento?
The refund button will only be available if (1) your account has been updated to use Rvvup Payouts and (2) your customer's payment has been marked as APPROVED. If the payment is still in a pending status or you've already refunded the total amount paid, the refund button will not be visible.
Can I test out Pay by Refunds?
Yes! If you have a test store in WooCommerce or Magento, you can connect your Rvvup Test Mode API Keys to create test Pay by Bank orders. Once those test orders are in the approved status, you can issue a test refund. Rvvup's Test Mode mimics production, so you can create test orders to build up a daily balance to issue refunds against. You can also run a test of a refund that exceeds your daily balance to mimic a refund that would go into a pending status.
Stay tuned for updates, improvements, and innovations!
Our product is improving all the time and introduces new features frequently, so check back in at Rvvup.com for news about the next milestones on the Rvvup payment journey.