How are my refunds processed? 🪄

bunq

Hey bunqers 🌈

Ever wondered how your refund is actually processed? This topic will give you more insights on how every type of refund works and what processes we follow before we credit back your funds 👀

How does this work in theory?

Long story short - we cooperate with the merchant and with Mastercard to process it for you. When you request your refund through the app, our relevant department reviews the request for you and assists you during the process. A detailed explanation of the process and how you participate in it can be found below.

A refund request must always start in the app: it's the fastest way for you to get your money 🙌

First refund request (request in app)

You can always request a refund for any payment in the app. You can request a refund by following these steps:

Tap on 🏠 Home
Select desired sub-account
Scroll to the bottom of the screen
Tap on Request a Chargeback
Select the reason for this refund
Submit the requested information
Done 🎉

More info on how to request a successful refund here

What happens when you request your first refund?

If the payment was unclaimed by the merchant

In cases where the payment was unclaimed by the merchant, the payment remains open. When you request a refund for an open payment, the app starts an automatic counter based on the legal requirements for the refunding timeframe. It’s good to keep in mind that most hotels and car rental companies have a 30-day waiting period. However, in most other cases, the period is 7 days. Once the counter is over - your funds bounce back to your sub-account right away 🚀

If the payment was claimed by the merchant

If the funds were claimed by the merchant, the refund request will be denied. But don’t worry - then you can start another refund request which will be counted as a Chargeback.

Second refund request (Chargeback)

If the first refund request was denied by the merchant, then you can request a refund again (by following the steps explained above) which will now be considered a chargeback.

In case of a chargeback process, there are some additional details which are good to know:

Please give the merchant 7 business days to respond to your refund request.
Have your goods not arrived? Please give the merchant 30 days to deliver your goods.
Did the merchant agree to refund you? Please give the merchant at least 15 business days to process the refund.
Are you requesting a refund for ordered goods or services? Please upload a detailed description of the goods or service (preferably an order confirmation) in the refund request.
Did you have any communication with the merchant? Please upload screenshots of this in the refund request.
If you want to request a chargeback, make sure to do so no longer than 120 days after the payment was done.
Remember to always request the ARN ID of the refund from the merchant, so that we can locate the potential refund and assist you further.
A quick summary of the overall timeframe: up to 30 business days (up to 15 business days waiting time for merchant response and 15 days for refund processing).

Once you’ve followed the instructions above, you can start the chargeback process successfully.

What happens when you request your second (chargeback) refund?

Once Mastercard has contacted the merchant and saw both sides of the case, they decide to either cancel or proceed with the refund.

We’ll update you every step of the way.

Important note: The investigation may take between 2 to 6 months in total due to the regulated timeframes for merchant response/further investigation.