Setup The Refund Reserve
Important: As of July 2019, in-race reserve funding is only available for Advanced accounts. Races operating on legacy Quickstart accounts should upgrade as soon as possible to enable the full feature set. If refunds need to be issued before an upgrade can be completed, see sections 5 & 6 below for information on funding the reserve via check or wire.
Issuing refunds through RunSignUp requires that funds be set aside in the Refund Reserve. This ensures that refunds are issued only against funds that are settled and available.
The Refund Reserve page can be found by navigating to Participants > Participant Management > Refund Reserve.
How to Setup Refund Reserve
There are a number of race features that will cause the automatic funding of the race reserve:
- Participant refunds. This option allows your participants to self-refund from their registration management page. This feature is turned on or off by going to Participants -> Participant Management -> Refund Setup. Note: This option does not need to be enabled for Race Director initiated refunds.
- Bib Exchange with refunds. This allows your participants to initiate a Bib Exchange to another runner. When the new runner accepts and pays, the original registrant will receive a refund. This feature is turned on or off by going to Participants -> Participant Management -> Bib Exchange.
- Referral Refunds. Once set up, this promotion feature will issue automatic refunds to runners when other runners register based on their referral. This feature is turned on by going to Promotion -> Referral Tracking -> Setup. We do not recommend turning off referral refunds once enabled.
- Group/Team Refunds. As part of Group pricing, once set up, this feature allows Race Directors to issue refunds to Groups who reach a Member limit that they define.
By default, the Refund Reserve will retain 5 x the amount of the most expensive race fee or 10 x the amount designated for Referral or Group/Team refunds.
If you do not have any of the above features enabled but would like to hold funds for Race Director initiated refunds, OR if you prefer to hold a higher amount than the rules above indicates, enter an amount in the field Additional Refund Reserve to enable automatic reserve funding from incoming transactions (see below).
Current Reserve Information
Current Race Refund Reserve: This is the amount you can use to issue refunds. Any leftover amounts will be released to you after Race day.
Approximate Refund Reserve Hold: This amount is the limit of which RunSignUp will auto-transfer transactions processed by your Race to the Refund Reserve in order to meet this Reserve amount. By default, if you have refund generating features enabled, this amount is auto-calculated. The held amount can be increased by entering an amount on the Additional Refund Reserve field.
In the example above, this shows a Current Reserve balance of $100/$100 (Full Refund Reserve Balance). This means the Race Director is able to issue refunds up to $100 while RunSignUp will continually auto-transfer transactions to fill the Reserve to meet the limit of $100.
Reminder: There is a $1 Refund Processing fee per participant who is refunded online. This means that you must plan to have more in your Refund Reserve than the original Amount Paid for each participant that you are refunding.
There are 6 options to add funds to the Refund Reserve:
1) Carryover from Future Registrations
If the Race has refund generating features listed above enabled, then the Approximate Reserve Reserve Hold amount will be 5x the most expensive event fee or 10x the referral or group refund. If the Race does not have these features enabled but you would like transactions from future registration carried over to the Refund Reserve, you can enable that by navigating to Race Dashboard -> Participants -> Participant Management -> Refund Reserve and designating an amount in the Additional Refund Reserve field. All settled future transactions will be added to your refund reserve until the entered amount is reached. When completed successfully, the additional refund reserve amount will be added to the Approximate Refund Reserve Hold amount.
2) Transfer Settled Amount to Reserve
If you have settled funds that have not yet been paid out, you can use this option to transfer those funds into the refund reserve. Enter the correct $ amount in the provided field and then click "Move to Refund Reserve". When completed successfully, the new amount will be added to the Current Race Refund Reserve amount.
Important: This option only applies to settled funds for the same Race. You are not able to transfer settled funds from a different Race using this option. Please see option 3 if transferring settled funds from a different Race.
Note: You can find your Settled Amount Waiting to be Paid on your Manage Payment Account Page in the Upcoming Payment Details section. However, if this payment account is shared across multiple races/clubs this amount will reflect settled funds across all linked races/clubs.
3) Transfer Money from Other Linked Races
This option is only available if you own multiple Races that share the same Payment Account. This option can be found by navigating to Dashboard -> Participants -> Participant Management -> Refund Reserve.
Select the appropriate Race that has available funds amount as shown under "Approx. Amount Available" > Enter the amount in "Amount to Transfer > Transfer Money.
Important: This option is only available to users with Admin access to both the Payment Account and the linked races/clubs.
4) Add funds via Credit/Debit Card
If you do not have funds available in this or other linked races, and do not expect to receive any further transactions but need funds in the Refund Reserve to issue refunds (Cancelled Races), then the next best option may be to add funds to your Refund Reserve via Credit/Debit Card. Note: This option incurs the standard processing fee as shown here.
Race Dashboard -> Participants > Participant Management -> Refund Reserve -> Add to Refund Reserve by Credit Card
5) Mail RunSignUp a Check
We can manually add funds to your Refund Reserve once the check clears. This option is not as convenient as the options above but you will be able to avoid the standard processing fee incurred from Credit/Debit card transactions. Please send the check to:
300 Mill St. Suite 200
Moorestown, NJ 08057
Important: Please include a note with the Race name/number and indicate that the funds are for the Refund Reserve.
6) Wire funds to RunSignUp
This option is faster than mailing a check and incurs only your bank's standard Wire transfer fee. For more information, contact email@example.com.
RunSignUp charges a $1 Refund Fee for each participant receiving an online refund. This means that you must plan to have more in your Refund Reserve than the original Amount Paid for each participant that you are refunding.
Also, each person within a bulk refund is counted as an individual refund. This means that if you have 10 people in a bulk refund, then the total refund fee will be $10.
Using the example below, if you would like to issue full refunds to 2 registrants that paid $20 each for a total of $40, you will need to add $42 dollar to the refund reserve. If adding the $42 to the reserve via credit/debit card, the total amount included the $3 processing fee will be $45.
Release Part of Refund Reserve
If you have available Current Refund Reserve balance and would like to release X amount before RunSignUp auto-release the reserve on Race day, then you can enter this amount using this option.
Please note that the system will continually refill your Current Refund Reserve balance as long as refund generating features are enabled. This may prevent the release of reserve funds for payment unless these features are disabled.