Refund Fees
When you request a refund through Spectora, we apply a small fee to help cover the costs of processing the refund. This fee is assessed by banks and payment networks (like Visa and Mastercard) for handling payments. These networks have specific rules on fees for refunded payments, and often, banks and card networks keep the entire initial cost of a refunded transaction. In some regions and for certain payment types, there may be additional fees for refunded payments.
For full refunds, the fee matches the payment fee of the original transaction.
For partial refunds, the fee is smaller - calculated at the same rate as the original payment fee but adjusted for the reduced amount being refunded.
Lost Dispute and Failed ACH Payment Fees
There are also specific fees for Lost Disputes and Failed ACH payments.
Lost Disputes incur a $15.14 fee
Failed ACH payments incur a $4.04 fee
How will the fee be processed?
For refunds, lost disputes, or failed ACH payments Spectora will debit your Stripe account for the appropriate fee after the transaction.
🔴 Important Note: 🔴
Even if a payout has not reached your bank account and you process a refund, you will still be charged a fee for refunding.
To clarify, the processing fee is not linked to payouts; rather, it is a charge for utilizing the online payment processor. Therefore, it does not affect whether the payment hits your account. The fee was applied for processing the payment online, and unfortunately, issuing a refund does not reverse that action.
Additionally, please note that payouts are not processed on weekends, which may result in delays for those received during that time.
Spectora does not retain these fees, as they are charged directly by the banks.
If you have any questions or feedback, write into our chat bubble or email support@spectora.com
