You can cancel a customer’s financing application any time before it’s paid. Unpaid applications expire automatically after 90 days, so you don’t need to cancel them, but you can cancel sooner if the job changes or your customer decides to pay another way.
Already paid? Canceling isn’t available once a loan is paid. Instead, you can start a refund. See How do I refund a customer?
Should I cancel or refund?
- The loan hasn’t been paid yet: Cancel it. If you send Wisetack applications through the Wisetack Portal and only the price changes, you can edit the amount instead of canceling and resending.
- The loan has been paid: Start a refund for the full amount or part of it.
If you send Wisetack financing applications through the Werchant Portal, you can cancel an application immediately by navigating to Applications and then clicking the loan you would like to cancel. Once on the loan details page, click the Cancel Loan button.
If you send Wisetack financing applications through your software platform, please contact our support team to cancel the application.
FAQs:
- Which user role types can cancel financing?
- All users can cancel financing. However, Limited user roles can only cancel financing applications that they started. Get a refresher on user permissions here.
- I don’t see the Cancel Loans button on the transaction details page. Where did it go?
- If you don’t see Cancel Loan, the loan has most likely been paid. Use Refund instead. Refunds are available to Managers, Admins, and Super Admins. See How do I refund a customer?
- Is canceling the same as a refund?
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No. Canceling stops a financing application before it’s paid. A refund returns all or part of a paid loan to your customer.
- Wisetack Portal: Managers, Admins, and Super Admins can start a full or partial refund on a paid loan. See How do I refund a customer?
- Business software: If you offer Wisetack through other software, contact Wisetack support to request a refund.
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