Understanding how refunds work in ClubReady can help you manage your club's finances more effectively and set the right expectations with your members. This article covers the most common questions about the refund process, including how refunds are processed, why they may be delayed, and how to resolve a negative account balance.
Q: How does the refund process work in ClubReady?
A: As your merchant processor, all payments flow through the ClubReady trust account. When you process a refund through your site, your member is credited back the funds to their card or account and ClubReadys trust account is debited. We pass that same amount on to your clubs site via the remit process. The refunds are then deducted from the revenue that was generated for the remit time period and you receive the net deposit after the refunds have been deducted. If no revenue has been generated during the remit period, the remit will be negative due to the refunds processed, and ClubReady is owed those funds back for crediting your member.
Q: Why hasn't my member received their refund? Why is the refund showing as pending?
A: All refunds are placed in a pending refund queue and released each time your remit is reconciled. When there is not enough revenue generated to offset requested refunds, they are held in the pending refund queue until either sufficient revenue is generated or until ClubReady is reimbursed by the owner for the refund, as you have already received a remit deposit for that transaction.
If you have pending refunds, there is an increased risk of members initiating a chargeback while waiting for their refund to settle. To make payment back to ClubReady and release the pending refunds, you may do so via the following accepted payment methods:
- Credit/Debit Card (via invoice): ClubReady will place an invoice within your site where you can pay the balance directly with your card.
- Wire Transfer: Contact support and ClubReady will provide you with wiring instructions to transfer funds directly to the trust account.
Once payment is received, refunds can be released and will take 24–48 hours to settle in your member's bank or credit card account.
Please monitor pending refunds within your site 1–2 times per week. On the main toolbar, select Reports > Sales > Pending Refunds > Run Report.
Q: Why is there a 6-day waiting period?
A: The 6-day waiting period ensures the payment transaction has fully settled and eliminates the possibility of refunding a payment that may come back as a returned payment. This waiting period accounts for standard payment processing timelines and banking return windows. Timelines may be further affected by weekends or bank holidays, which can delay processing by at least one additional day.
Q: Why is my remit negative if I still have money in my bank account?
A: ClubReady does not have access to directly debit your bank account without express written consent. We can only deposit money into your account. If revenue is not generated during the remit time period, the remit will remain negative until the balance is paid off, or when revenue is generated to absorb the negative balance.
Q: If my account is negative, how can I pay my balance off so my refund process can be turned back on?A: If your account is negative and you would like to pay your balance off, please reach out to our support department at support@clubready.com. ClubReady accepts the following two payment methods:
- Credit/Debit Card (via invoice) — Preferred: Since ClubReady is PCI compliant, we cannot accept a credit card over the phone or via email. ClubReady will place an invoice directly within your site where you can pay the balance with your card.
- Wire Transfer: Open a ticket with our support department and our finance team will provide you with the wiring instructions to transfer funds directly to our trust account.