Refunds
Overview
Roqqett enables you to refund payments through what is essentially a reverse of the original payment. The same payment amount is transferred from what was originally the receiving bank account back to the original payer account. When refunding, the payer account is the bank account that was credited and the receiving account is your customer's bank account.
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You can't choose to refund from a different account than the original receiving account.
The authentication for the payment must be provided by you or the person in your business who has the authorisation to log into the bank account that the refund is being paid from, either online or through an app. In practice, this means that this person needs to be involved in all refunds and should complete the refund via the portal.
In Roqqett, a refund is completely separate from the original payment. It appears as a unique payment in the portal (see image below). However, any refunds are linked to the original payment, which allows you to audit and easily navigate between them.
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Roqqett only allows you to refund from approved bank accounts that have undergone know-your-business (KYB) checks.
Refund notifications
Roqqett provides a refund webhook that you can subscribe to in order to be informed about any refund that occurs. This is especially powerful if you want to automate any business operations or workflow activities when a refund occurs. Learn more about webhooks.
Not supported by all banks
All major banks support Open Banking refunds, but some newer banks do not yet support it. Learn more about banks that support refunds. The other institutions are developing refunds and Roqqett will make you aware when refunds are available. If a refund is not available through the Open Banking process, Roqqett will facilitate an alternate mechanism for refunding customers.
Full refunds only currently
Currently, Roqqett only allows full refunds, i.e., where the refund amount is 100% of the original payment amount.
Testing refunds
To test a refund, you first need complete a test payment using Roqqett Pay or Roqqett Checkout and a bank account that you can authorise payments for.
In order to refund a test payment, simply follow the instructions for a real refund. Upon authorisation of the refund, you'll be presented with the option to choose a refund outcome. Refunding a test payment will automatically carry out a test refund, and money won't be moved as a result of this operation.