Refunding an instantly settled transaction

Refund Process

Merchant Steps

Step 1. Click on "Transactions" > "All Transactions".

Step 2. Click on the transaction row that you want to refund. You can use the filters to help you search through transactions.

Note: The option to create a refund is only available for transactions that have been created at least 24 hours ago. 

Step 3. You can click refund full amount to refund the full amount to the customer, or a partial refund where you can enter the fiat value.

Next, enter the customer email address you want to send the refund notification to.

Step 4. Click "Create Refund" and you will be notified if your refund was sent successfully. An email will be sent to your customer to receive a refund.

Customer Steps

The customer will need to open their email and provide an address so that the refund can be deposited to their wallet address. 

IMPORTANT NOTE: A customer only has 24 hours from the time the refund was issued to complete the refund. 

Step 5. Customer receives email and enters their wallet address where they want to receive the funds.

For instant settled transaction refunds, the refund amount is re-calculated at the time of refund based on the market rates. An estimated amount will be shown to the customer once they open the email link.

For example, say you processed $200 USD and the exchange rate was $200 USD for 1 Ethereum at the time. If you sent the customer a refund, and when they click accept the exchange rate is $180 USD.
They would receive ETH 1.11111111 for the refund ($200 USD value in Ethereum).

Merchant Steps

Step 6. A new transaction will appear in your transactions list, with a negative amount in the amount received column with a transaction status of Refunded.

Fees

https://merchant.getbitflow.com/fees

Your fixed fees for refund can be found by following the link above.

Instant Settled Transaction Refunds:

Refund transactions will be deducted from your next payout.
The original transaction fee will be returned and refund fees will be applied for each refund transaction.

Refund fees are calculated at the time of the refund.
The refund fee will be a fixed fee * exchange rate.

You can also view the refund history of a transaction by clicking on the original transaction row and then clicking view refund.