How do I refund a customer?

When a job changes after your customer’s Wisetack loan has been paid, you can refund all or part of it. If the loan hasn’t been paid yet, cancel the application instead.

Refund in the Wisetack Portal

  1. Go to Applications and open a loan with a Paid status.
  2. Click Refund.
  3. Enter the amount you want to refund. Enter the full loan amount for a full refund, or a smaller amount for a partial refund.
  4. Review the details and confirm. Refunds are final once submitted, so double-check the amount first.

The loan’s status changes to Refunded. The refund amount is debited from your business’s bank account within 1–3 business days, and you and your customer will each get an email confirming the refund.

Refund through your business software

If you offer Wisetack through other software, contact Wisetack support to request a refund.
 

FAQs:

Who can refund a loan?
Users with a Manager, Admin, or Super Admin role. If you don’t see the Refund option, ask your account admin.

Why don’t I see the Refund option?

  • The loan hasn’t been paid yet. Use Cancel Loan instead.
  • It’s a Progress Payments loan and not all payouts are complete yet. See below.
  • Your user role doesn’t include refunds.
  • You’re using the Wisetack mobile app. Refunds are only available in the Wisetack Portal on the web.
  • Your business offers Wisetack through other software. Contact Wisetack support.

Can I refund part of a loan?
Yes. Enter only the amount you want to refund, and we’ll handle it as a partial refund.

Can I refund a Progress Payments loan?
Yes, once the loan is fully paid. That means both payouts are complete, or the first payout is complete and the second was canceled or expired. Until then, the Refund option won’t appear.

Where does the refund money come from?
The refund amount is debited from your business’s bank account on file, usually within 1–3 business days.

Can I change or undo a refund?
No. Refunds can’t be changed or undone once submitted. Review the amount carefully before you confirm.

Will my customer be notified?
Yes. You and your customer will each get an email confirming the refund. Your customer doesn’t need to take any action.

How does a refund affect my customer’s payments?
It depends on your customer’s lender. Your customer can find details in Get a refund or contact their lender directly.