If you want to issue a full or partial refund to a Caller, you can do this from your Stripe Dashboard any time. Refunds will be deducted from your Stripe Balance; if your Stripe balance becomes negative, Stripe will withdraw the difference from your bank account if your account is in Australia, Canada, the UK, or the US (see this Stripe support article).
To initiate a refund, go to the Payments section, find the correct transaction, then click the right-side menu beside the transaction (...) and choose Refund charge.
You should then see the Refund payment window:
- Enter an amount to refund: either the Caller's full cost, or a partial dollar amount
- Choose a Reason -> either "Requested by customer" or "Other"
- Provide a note for more details. This note will appear within the transaction's details log, visible when you click on a transaction. This may be a helpful reminder about particular incidents or promotions you offered a Caller when reviewing your transactions in the future.
Per Stripe's Refunds page, refunds usually take 5-10 business days to be reflected on your Caller's credit card statement, depending upon the bank.
All Magnifi transactions are based in US Dollars. Any refunds issued are refunded to the Caller in USD, but deducted from your Stripe Balance in your native currency.