The time it takes for a refund to be processed depends on when your next settlement is due. Refunds are deducted from your upcoming settlement, so they will only be processed once there are sufficient funds available.
How refund timing works
- Refunds can only be processed once your next settlement has been generated.
- If your next settlement does not contain enough funds to cover the full refund amount, the refund will remain pending until enough settlement value has accumulated.
- Once sufficient funds are available, the refund will be processed the day after the settlement date.
Example Scenario 1 – Settlement covers the refund
Collection dates: 1st and 15th of each month
Refund request submitted: 4th of the month (3 days after collection)
The next collection is on the 15th, settling on the 16th, so the refund remains pending until settlement occurs. The refund will then be processed the following day, i.e., on the 17th of the month
Your next settlement report will show the refund amount that has been deducted.
Here is an example scenario:
|
Refund amount |
Pending Settlement Amount |
Status |
|
£100 |
£150.00 |
Refund - processed Settlement = £50.00 paid |
In this example, your settlement fully covers the refund, so it is processed immediately after settlement.
Example Scenario 2 – Settlement does NOT cover the refund
If your upcoming settlement does not contain enough funds to cover the refund, it will not be processed until a later settlement provides sufficient value.
|
Refund amount |
Pending Settlement Amount |
Status |
|
£100 |
£50.00 |
Refund - not processed Settlement - £0.00 |
|
£200 |
Refund - processed Settlement - £150 paid |
In this example, the first refund (£100) cannot be processed because there are not enough funds. The refund is processed once later settlements (£200) accumulate enough value.
If you have any questions, please do get in touch by emailing our customer services team on customer.services@landz.co.uk.