Refunds on ReefnBid

ReefnBid issues the refund to the buyer immediately, then recovers your share from your Stripe payout or, if needed, your ReefnBid seller balance. Your share of the refund is then recovered from you:

• By default, we reverse the related payout, pulling your portion back from your Stripe balance.
• If that payout has already been sent and cannot be reversed, your portion is charged to your ReefnBid seller balance instead, which can go negative until it is covered by your future sales.

Either way, the refund is ultimately funded by you, the seller - ReefnBid

only fronts the buyer's money so they are not left waiting.

To keep your balances healthy:

• Keep a cushion in your Stripe account so your share can be recovered from your payout instead of creating a negative seller balance.
• Consider weekly rather than daily payouts to keep more funds accessible in Stripe. Update this in your Stripe dashboard under Settings, then Payout schedule.
• A negative ReefnBid seller balance is recovered automatically from your upcoming sales.

Step-by-Step: Issuing a Refund from the ReefnBid Seller Dashboard:

1. Log in at sell.reefnbid.com

2. Navigate to Orders

3. Find the order requiring a refund

4. Click Refund in the top right corner

5. Enter the amount (full or partial) and select the refund reason

6. Confirm and click refund

Note: When processing a customer refund on Stripe, the entire purchase price is returned to the customer. However, the original transaction's payment processing fees are not returned to you by Stripe. This is standard practice across all payment processors and banks.