Same day refund: If you refund an order on the same day it was placed, the order will be cancelled out and you will not receive payment from Zip.
Refunded at a later date: If you refund an order after the day it was placed, Zip would have already disbursed you the funds and your merchant account will be in arrears.
To resolve this, the refunded amount (less the merchant service fees) will be withheld from your next disbursement. We’ll resume disbursements as soon as the amount has been covered.
Example: if you issued a refund of $100, your account will be $100 in arrears (less the merchant service fees that get credited back to your account). If your next order is for $20, you will not receive the disbursement for that order. Instead, your account will now be $80 in arrears. If you then were to place another order of $200, the refunded amount will be covered and you will then receive a disbursement for $120 (less the merchant service fees) detailing all the orders that were credited to the refund.
If you have not made sufficient orders to cover the refunded amount after 30 days, we will reach out to you to initiate a direct deposit to balance the account.