New: Credit Card Refunding

2012-03-31T15:13:06-04:00SportsSignup Updates|

Feature Update #6

Credit Card Refunding 
A much anticipated, very useful feature is now available.  You can now issue refunds back to credit cards of your registrants, directly through the system.

What can I do 
When you “unregister” a player, the system shows that you owe them money.  If you would like to return it to the registrant, assuming the payment was made by credit card, you can click on ISSUE CREDIT, and it will prompt you to enter the amount to refund to their credit card.  The credit is posted immediately, and will usually show up on their credit card statement the following day.  You have up to 120 days after the registration to issue a refund.

If you don’t want to issue a full refund (because perhaps you charge them $35 regardless), you would first create an ADJUSTMENT – a fee of $35.  That would now show you owe them $35 less.  Now you issue the credit.

How does it work? 
Refunds will show up on your periodic statements, and the amount refunded will be deducted from the amount paid to you.  If for a statement period you owe money (as opposed to the normal case of collected money being owed to you), the amount is withdrawn from your bank account.  This might occur after a registration cycle closes, and some late unregistrations are done.  In this case, there are no new registrations to offset the refunds, so a deduction is made.

The Treasurer specified on your account always receives an email when a deposit or deduction is made to your bank account.

There is a $0.30 charge for each refund issued, which covers the banking fee.  Also note that the original credit card fees on the registration are not reimbursed..

Activating Your Account 
We need an ACH AUTHORIZATION AGREEMENT to activate Credit Card Refunding for your account.  We have received agreements from many organizations already over the past month.  If you have not sent one in yet, click here so you can begin using this feature now!