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This situation may also apply to businesses that want to charge security deposits, such as for equipment rentals.
I am planning an event and will be selling admission tickets. As an incentive to get volunteers to help run the event, I'm offering to reimburse the cost of their ticket. But I want volunteers to purchase a ticket first and get reimbursed only after the event, as a way to ensure they're serious about helping and to cover my losses should they skip out.
But would issuing direct refunds to the transactions of them buying their tickets harm my Square account in any way, like reducing my ability to obtain Capital loans?
If necessary, I can reimburse the volunteers (and equipment renters can return deposits) by mailing them checks or handing them cash or something. But as long as it wouldn’t hurt my account, it'd be far simpler to just refund right back to their cards.
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Hey @DaoDeJing, thanks for taking the time to give us a heads up on this. I don't have specifics on hand right now, but this doesn't sound like it may be the intended way to process payments with Point of Sale. Let me run this by a few team members for a closer look—I'll be back as soon as I have more clarity. Appreciate your patience!
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So, do refunds harm my account "health" or otherwise affect its standing in Square's eyes?
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Hey @DaoDeJing, sorry this slipped by! I wasn't able to access specifics for refunds and Capital eligibility, but I can confirm that refunds cannot be used in place of security deposits or pre-authorized charges. For more details, have a look at this article: Refund FAQs. Hope this helps get you in the right direction.
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