Do you guys know how the returns are managed from the company's bank?
We use the Shopify payment system. My question is.. When a customer from another country example, shall have a refund and it will be managed through Shopify, will there then also be a fee (of cause depending on the bank) at our bank for handling that transfer? Or there will not be any because it is handled through Shopify?
Hope someone knows, thanks in advance.
Julie here from Shopify Support.
If you're using Shopify Payments and you issue a refund, then the refund amount is deducted from your next available payout, rather than your bank account. This ensures that the refund is processed immediately. There is no additional fee for issuing refunds.
Keep in mind that while refunds are issued immediately back to the customer, they can take a few days to appear on the customer's statement, depending on their bank's processing times. When the customer is in a different country, this timeframe can be significantly longer.
It's also important to note that if you are selling in multiple currencies, then currency conversion fees and credit card fees aren't returned to you when you issue a refund. However, you won't be charged additional conversion fees on refunds.
I hope this clears things up, but let me know if you have any further questions!