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How do I fund my Stripe account so I can refund my guest?

Timothy H
Jun 23, 2022 3:36 PM
Joined Mar, 2022 9 posts

So, I have a guest that booked via VRBO and paid via my Stripe account.  Two days later they requested to cancel.  I approved it and cancelled it via OR but Stripe sent their payment and is now in my bank account.  I need to try and get this money back to the guest.  Should I go through Stripe or should I refund in a different manner?  TIA 

Shawn H
Jun 23, 2022 5:31 PM
OR Team Member Joined Aug, 2021 30 posts

Hi Timothy - If you have no funds (or not enough funds) in your Stripe account, they will pull back the amount needed for the refund from your linked bank account. You can see this activity under Balances on the Stripe mobile app or on the Stripe dashboard in your account. It usually takes a couple days from when you initiate the refund for this to occur if there are insufficient funds.

Timothy H
Jun 23, 2022 5:34 PM
Joined Mar, 2022 9 posts

Ah.  Ok, thanks for the response.  So, I’ll just wait for them to pull back the value they placed in there.  I’m assuming I’ll have to pay the processing fees on both sides?  (Which really sucks because I didn’t initiate the cancellation).

Shawn H
Jun 23, 2022 8:35 PM
OR Team Member Joined Aug, 2021 30 posts

No, Stripe doesn't charge a processing fee on refunds. Only on initial payments (or if you collect against a security deposit hold or if you collect refundable security deposit). Some users choose to have their cancellation policy only refund a certain percentage and/or a cancellation fee tied to their cancellation policy to cover such costs in the event of a cancellation.