If you ever need to refund your client for a payment they made through Joist, we've got you covered. Once you've determined that refunding the client is the right option for you and your client, you can do so directly from the Joist app:
Please note that transaction fees for payments are not refunded. Your client will still receive a full refund, but you will be charged the transaction fee for the payment via your Stripe account.
To issue a refund:
Open the invoice the payment was made on,
Then, for iOS and Web, use the Payments button at the top of the screen. For Android, tap the Green Circle in the bottom right, then choose Payments.
From there, you will see any payments made on the invoice listed. The button to the right of the payments will reveal the option to issue a refund.
Once you confirm a refund, it will begin processing immediately and cannot be stopped or reversed. On the client’s side, they should see the money credited back to their credit card statement in 5-10 business days. This is the time required for credit card companies to adjust the client’s statement and is the same for any refund issued back to a credit card.
Important: Negative Stripe Balances and Refunds
If issuing a refund results in a negative Stripe balance, the refund will remain pending until your balance is brought back into the positive and sufficient funds are available to cover the refund amount.
To cover negative balances, Stripe may automatically debit your connected bank account, as outlined in the Stripe Services Agreement. If the debit attempt is unsuccessful, your bank may charge overdraft or returned-payment fees based on its policies.
Note: Refunds may be delayed while Stripe works to recover a negative balance, which could increase the risk of customer disputes.
For additional information about the refund(s) you have issued and/or your stripe account, please reach out to the Stripe support team using this link: Stripe Support.