This topic is about a financial service company known as Stripe. It provides software for payment processing to more than thousands of companies.
Here you will learn the different methods of requesting a refund from Stripe, does it charge for refund, processing time, stripe refund invoice, etc.
Stripe is used by Udemy, Lyft, Instacart, Slack, and Reddit in order to make the payment transactions smoother and quicker for the customers.
You can use Stripe as a payment gateway while making payments and if are not satisfied with the services then ask for a money back.
Stripe Refund Policy
As you have understood by now that Stripe is not a seller it’s used as an option for check out. You cannot request them for refunds.
Though you are not allowed to request refunds, the businesses that run Stripe for payments can select to issue a full or partial refund through Stripe. It totally depends on the terms and policy of the company from where you purchased.
How can I get a refund from Stripe?
You can contact the merchant and make a refund request. If your luck favors and you are eligible for the refund then you will get the money through the original payment mode.
There are different options available in order to contact the merchant:-
- Fill up a form online through the website from where you made the payments.
- Write an email.
- Reach for the merchant over the phone.
- Visit the store to request for a refund.
If the merchant denies your request then you can contact the bank to ask for a refund.
Following are the methods to make a refund request:-
A) Ask for a Stripe Refund through Bank’s website
Nowadays transactions are held online you can go to the Bank website to make a refund request. Log in to your bank account and search for the option to request a chargeback.
Fill the form and include the details of the merchant and also make sure to mark the valid transaction.
B) Request refund for Stripe over the Phone
If you are lucky enough you can get the option to call the bank over the phone to request a refund. If you do not have the option to request refunds over the phone then just ask for the process.
The contact number will be available on your Bank’s website.
If you want to know about the details of the transaction then keep the contract number, information on the transaction, account, the merchant, and credit card info handy.
C) Visit the Bank to request for Stripe refund
Banks have their own rules and policy, sometimes you need to visit the bank for verification and then accept your refund request.
Go to the bank during visiting hours and the details will be available on the bank’s website.
d) Make a Stripe refund request through a letter of dispute
The bank may have the option to write a letter to request a chargeback. You need to send it through post or via email.
Remember to include the necessary details:-
- Letter of dispute
- Address
- Necessary documents related to the transactions
There is also another option for requesting a refund i.e via Stripe API.
Refund using Stripe API
- In the first case, Create a refund call in the API.
- Then enter the charge ID in the API call.
- Now enter the amount that you want to receive as a refund.
- If there is no amount entered then you will get a refund in full charge amount.
- At last tap the API call to run.
How much does stripe charge for refunds?
You do not need any extra charges to pay while requesting a refund. But the fees or charges already deducted from the original charge are not given back to you.
The request made by you is submitted to the card issuer or to your bank. The refund might take 5-10 working days to show up on the customer’s bank statement.
What is the stripe refund processing time?
The Merchant will select Stripe to send the refund and once processed the amount will credit to your bank instantly. Totally depending on the terms and policies of your bank, the amount will appear on your bank and usually, it takes 10 working days to get the money credited to the account.
Go through the article carefully to understand how to get a refund from Stripe. If the refund is credited to your account it will be notified on Webhook. Stripe uses webhook so that whenever any event arises in the account you will be notified.