🇺🇸 Only available for US-based bank accounts.
If you refund a payment, you may see that your account balance in Stripe is a negative number. This number will be in parentheses.
Each payment processed incurs a processing fee. Processing fees are NOT returned to you when you issue a refund. You may choose to only refund a partial amount of your client's payment to cover the cost of the additional processing fee.
To refund a $100 monthly plan the fee would be $2.90 + $0.30 for a total of $3.20. If you refund your client all $100, then you would have a negative payout balance of ($3.20). To break even on the transaction, you would only refund $96.80.
When a new client signs up, make sure you have a clear refund policy. Take into account how you want to handle these charges for payment processing to avoid disputes.