The Refund Reserve is the source of refund money. In order to issue a refund, you must first have enough funds in the Refund Reserve. You can find the refund reserve under Financial >> Chargeback/Refund Reserve in the Membership Organization dashboard.
There are three ways to fund the refund reserve:
- Add Money Via Credit Card: Directly add funds to your refund reserve via credit card. With this option, you will incur a small processing fee on the credit card payment. This may be necessary if the refund is urgent and all funds have recently been released or if you will not be processing additional membership registrations in the near future. We also offer additional payment methods for directly adding funds, such as ACH Transfers and Check payments.
- Set Additional Refund Reserve Hold. This will set a required reserve to hold back a set amount of money from future transactions until that required reserve is reached.
- Move Money to Refund Reserve. If you are awaiting the payment of a balance owed (which you can view under Financial >> Financial Summary), then you can set aside some of that future payment into the refund reserve.
Once you have enough funds in the refund reserve needed to cover the refund(s), you can move on to issuing the refund(s).
Learn more about the different types of refunds below.
- Refund Memberships: https://help.runsignup.com/support/solutions/articles/17000151050-refund-memberships
- Refund Store Items: https://help.runsignup.com/support/solutions/articles/17000151072-refund-membership-organization-store-orders
- Refund Donations: https://help.runsignup.com/en/support/solutions/articles/17000151051-refund-membership-organization-donations