How do Refunds Work on Stripe?

How do Refunds Work on Stripe?

How to Get a Refund After Purchasing With Stripe

Something to be aware of when you purchase through Stripe is how to get your money back in the event of an error. On Floonce, refunds are only available if a product is fraudantly advertised (you do not receive what was described). 

The first step to getting your money back is messaging the seller.  Tell the seller clearly why their product must be returned.  Make sure that the reason you are asking for a return falls within the refund policy.  You may not always be entitled to a refund just because you want one.  After the seller agrees to provide a refund, they can simply go to their Stripe seller dashboard.

Providing the Refund in Stripe

If you're a seller who needs to provide a refund, the steps to do so are simple.

Step 1. Log in to Stripe and click on "Payments" on the lefthand menu.   

Step 2. Click on the transaction that you need to refund. 

Step 3. Look in the top right portion of the screen for the word "refund."  Click it.

Refunds on Stripe Are Easy

Whether you're a buyer or a seller, it's important to realize how simple the process is for refunds.  Understanding this process as a buyer is valuable so that sellers cannot mislead you.  If a seller says that it is "difficult" to provide a refund, they are making excuses.  There is another reason why they will not refund you.  If you're a seller who is genuinely confused about providing refunds on Stripe, we hope that this article clarifies any question that you have.

What if the Seller Refuses to Refund Me?

If you absolutely need a refund and a seller does not agree to refund you, the next step is to request a chargeback directly from your credit card company.  Alert the credit card provider that your purchase was significantly misrepresented (if that is what happened).  If the credit card provider agrees with your assessment, they will "charge back" the company who originally accepted your payment.  There is a $15 fee billed to a Stripe seller each time a chargeback is issued.  Do not get in the habit of creating chargebacks because this is the most serious way to dispute a transaction.  It is always best to resolve issues directly with the seller so that you get a refund and the seller does not get a penalty from Stripe.