Charged 485 dollars for cancellation

okay so I thought I was charged 3% for cancellations. My customer bought my product and immediately his credit card was processed. He asked to cancel. I hit the cancel button. So that cost me $485.

The order is $4,302 and the and charges were $485.20

Is this correct? Shopfiy took over 10% of the order for cancellation?

Is my math wrong? are they taking over 10% of my sales too?

This seem excessive and unbelievable so I might have this wrong and if so, I apologize for my math mistake or I do not understand the process which is what I am hoping.

Can anyone assist on if this is correct and how to handle this in the future so I don’t get completely ripped off again?

Hey there @macky29 , great question and I definitely want to help you with this.

Can you confirm what payment gateway the customer used (Shopify Payments, Stripe, Payu, PayPal, etc)? And what plan your store is currently on?

If you are using Shopify Payments you should see the processing fees applied to the order in your payout details and in the order details timeline. If you are using a third party gateway then the processing fees are set by your gateway, plus an additional cost for using it on Shopify.