Discover how to issue CC and ACH refunds on your own directly to customers via the “Refund” feature
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What should we know about the new CC & ACH "Refund" feature?
- Only available for Credit Card and ACH payments
- Cannot be used for other payment methods
- Can be used for a settled or non-settled payment
- It's not the same as the "Refund" feature used to Refund security deposits
- Used to immediately refund the full amount of the payment to the tenant
What will happen when you use this feature?
- Refund will be immediately issued electronically to the Card / ACH network.
- You will receive a success confirmation and the original transaction will be marked as refunded
- A new refund transaction will be automatically created in our system
- The customer can see the effect in their own account after a few or several business days depending on network processing times
- The lease(s) which were affected by the refunded payment will see a DEBIT in the amount of the refunded payment
- The lease(s) will have their paid-through dates modified, potentially resulting in automatically computed late-fees
- The original payment will show as "Payment was refunded."
- A new refund transaction with its own unique ID will be created in the system.
Can a CC & ACH Refund fail? Yes, but don't worry.
- In a very rare situation a CC or ACH refund can fail due to external to the Cubby system factors such as card or ach network issues, insufficient funds in your merchant account, payment service provider error, etc.
- IF a Refund fails don't worry. This is what will happen:
- The original refund transaction will be be shown as "Refund request failed."
- The reason for the failure received from the payment provider will be displayed
- The Cubby system will automatically retry the refund until successful (see example below)
- The retried refund will be a new refund transaction with its own unique ID
- After the refund succeeds, the logic from the previous paragraph applies