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I refunded a guest's $100 deposit, which she had paid by credit card, by making a partial refund of $100 through the Reservation Manager system. The next day I received an email documenting the transaction but it indicated that only $97.50 was refunded to my guest so now I have to send her a check for $2.50. I understand and am willing to accept being charged a 2.5% fee on my end for the convenience of accepting credit cards, but I don't like having my guest shorted, especially when I advertise a full refund of their deposit. Is there a way to fully refund a guest's deposit other than by sending a check for the full amount? I've read through some of the threads about credit card fees but I haven't seen this addressed.
My understanding is that all fees are supposed to be refunded as well. Hopefully someone can confirm that and make an adjustment for you. Otherwise, I'll have to switch back to Paypal.
Unless this was a coding error on the processor's part, your guests should never, ever, ever see the fees you pay discounted from their refund. This was almost certainly a mistake on the part of the processor and should be rectified immediately.
Depending on who you are using for a processor, it is getting less and less common to charge merchants for refunds. In any case, you should be in touch with the processor today and demand that the mistake is fixed.
Hope this helps!
I am doing business online and I also receive payments that are net of a certain fee. However, when I inquired about the fee, I do not usually get a clear answer. I think the fees depend on the payment system because sometimes other transactions are not deducted with fees.
I'm the original poster. Just wanted everyone to know that my guest receved her full deposit and neither she nor I was charged a fee. The statement that I received from Yapstore, the folks that process the payments, was not as clear as it could have been (for me anyway) but she got her full deposit of $100 and only $97.50 was taken out of my account, thus refunding me the 2.5 percent I had been charged when she made her original payment of rental fee plus deposit.
Glad that you are able to clarify the transaction with the processor. We should truly not let our customers feel that they are being shortchanged. Honesty is the best policy. Cheers.
I had the exact same situation today, got an email showing the refund minus the cc fee and it looks like it was charged to the renter. I used reservation manager to do a partial refund.
@patrickduncan, is Homeaway doing something about this? or who should I contact to have a different kind of set up? or is there a better way to issue sec deposit refunds?
thanks for your help
Hi shengamillo -
Rest assured, your guest will receive the full amount of the refund you specify, while only the amount originally deposited to your account will be debited. VacationRentPayment (YapStone) reimburses their fees to make up the difference.
We will work with them to improve the clarity of the confirmation email you receive to avoid this confusion in the future.
Thanks for the feedback.
This is really good to know. I thought that my renter was not getting his full security deposit refund, and I almost sent him a check for the fee amount. Making that clearer in the email confirmation would be helpful.