Changing the refund policy on a current reservation
My standard refund policy is 96% up to 60 days before check-in. (Since Stripe doesn’t refund the original processing fees, my guest gets to pay for my fees if they cancel.)
Due to COVID-19, I extended my final deposit due date (and cancellation policy) to 14 days before check-in. I changed the final payment date before the 60 day deadline with a new quote, but I didn’t change or see the option to change the refund policy at the time I added the new quote.
My guest now wants to cancel his reservation. The system wants to default to zero refund because the original refund policy is still in effect for his reservation and he is within 60 days of arrival. If I change the “zero refund” to “refund all fees”, I’m assuming the system will refund everything 100%. I want to refund him 96% not 100%.
In order for the system to refund the proper amount, I figured that the refund policy on the reservation needed to be changed. For the life of me, I cannot figure out how to change the refund policy on a new quote for an existing reservation to reflect a new refund policy. The option to add or change the refund policy on the 3. PAYMENT SCHEDULE page of Build a New Quote, is NOT there. See below.
So, I tried a work-around by attempting to issue a refund (before I cancelled his reservation and chose the “No Refund” option) but the system wouldn’t let me refund 96%, it would only let me refund the balance after fees.
So, is there any way to change the refund policy on an existing reservation? If yes, please explain how. Just adding a new quote doesn’t work.
If no, do I then cancel the reservation with zero refund and then issue the refund amount from within Stripe? If No. Please provide the method on how to accomplish this refund.
@sallie-haws I don’t change the published policy. I would just cancel the reservation with 0 refund, and then go under actions and select New Refund. Then you can do a custom amount.
Thank you Jenny. I didn’t think the system would let me do a refund on a cancelled reservation, so I didn’t think about that option. Therefore, I’m just confirming, that MyVR will indeed allow a refund to be processed after the reservation has been cancelled?
@sallie-haws yes it will. I’ve done a lot of them over the past few months. Lol
So I cancelled the reservation, and tried to go issue a refund, but I still can’t issue the full refund amount of 671.80. I get this message:
Refunding Rates and Fees ( $499.79 Remaining )
Select the credit card payment(s) you would like to issue refunds for and specify the amount to refund. You can split the refund between multiple credit card payments if you like.
The system will still only let me refund my guest $499.79 even though his initial deposit was $699.
Ugh. So how do I fix this? Do I have to go into Stripe?
With the way our system works regarding deposits/refunds, you’ll need to process two refunds to equal the total amount.
First refund the deposit, by going to “Refundable Deposits” > Actions > Refund Deposit.
Once that is done, you should be able to refund the remaining amount.
His refundable deposit wasn’t paid yet, so there is nothing to refund in there, but since that is the amount that is being withheld, I’ll try what you suggest.
@sallie-haws I’ve run into that too. But you can still just refund in two parts. It may take a little heads up to the guest.