Getting Started with Refunds
Updated
What is a Refund?
A refund occurs when a transaction is returned, and funds are restored to a customer’s bank account after making a purchase.
Do customers need to be physically present for refunds?
No, customers don’t have to be physically present for refunds to be issued. You can process them remotely using your Teya card machine or Teya Business App, and the money will be returned to your customer’s original payment card.
How long does the refund take to reach your customer’s account?
Generally, refunds take between 7 to 10 business days to be completed however it might take varying times depending on your customer’s bank.
What types of refunds can be issued?
Term | Description | |
Full Refund
| The entire amount of a transaction is returned to a customer's account. Transaction = £100 Full Refund = £100 | |
Partial Refund | A portion of the transaction is returned to a customer’s account. Transaction = £100 Partial Refund = £50 | |
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