When refunding a registration, you will be given the opportunity to make it a partial refund and select the amount to to return to the customer's card. You can also issue multiple partial refunds over time up to the amount of funds in escrow.
If the registration you are working with uses a payment plan and all funds paid to date are being held in escrow, we will automatically handle refunds for you. In the event that some payments have been paid out from escrow to your program, we will automatically release all remaining funds to you so that you can issue your own refund.
If you choose to issue a partial refund on a payment plan registration, you will have the option to refund up to the total amount of funds that have been paid to date. If canceling the registration, all future payments will be cancelled automatically, however, refunds outside the context of a cancellation will not cancel these payments.
There are no fees to issue refunds through CourseStorm. In fact, if you choose to issue a partial refund for a registration, we will refund service fees as well, depending on the service fee.
Percentage-based transaction fees are refunded proportionally to the amount being refunded. For example, let's take a $100 registration with a 7% transaction fee (or $7 of the total). If you choose to refund $50 of this registration, we will refund back $3.50 of the fees.
Flat fees, such as those charged when students register themselves online, are only refunded when the entire registration is refunded. For example, if you have a $100 registration that the student placed themselves, they would have incurred a $2.50 fee making the total transaction $102.50. When you go to issue a partial refund for this registration, you will be given a maximum refund amount of $100. If you refund $50 of the transaction, we will refund back $3.50 of the percentage-based transaction fee to your program, but, the flat $2.50 fee will remain.
However, if at any time, the registration is eventually fully refunded, we will return the $2.50 fee back to the student. So, to extend the example above, if you issue a second partial refund of $50, the flat fee of $2.50 will be returned to the customer at that time, making that refund appear as $52.50 on their next statement.