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Re: Card Verification refund

Active Member
Costas A Member Since: Nov 27, 2016
1 of 10

In my transaction history I see the following after finishing the verification process:

 

DateTypeDescriptionFreelancerAmount /
Balance
Nov 26, 2016CreditDeposit Refund ($10.00)
$0.00
Nov 26, 2016PaymentRefundable Deposit $10.00
$10.00

 

Does this mean that Upwork has refunded the money? (I'm asking because I haven't received anything yet.)

Community Guru
Petra R Member Since: Aug 3, 2011
BEST ANSWER
2 of 10

Yes, that's what it means, it may just take a couple of days to show up again. Relax!

Active Member
Costas A Member Since: Nov 27, 2016
3 of 10

Just wanted to make sure...

The subtraction of the money happened instanlty though. It seems that it takes more time to get money back, but no problem!

 

Thanks for the reply!

Community Guru
Jennifer D Member Since: Feb 15, 2016
4 of 10

Costas, that's the same for *any* refund. The way a credit card works is that the money is authorised immediately, which is why you see it removed from your account immediately, but it takes a few days for the payment to actually settle between the banks in the background - as far as you're concerned, the payment is instant, but as far as your bank is concerned, it's not. With a refund, you don't get the money back until the refund settles. This is not a case of Upwork holding on to your money for a few days, if that's what you're thinking.

Active Member
Costas A Member Since: Nov 27, 2016
5 of 10

Hi Jennifer!

 

To be honest, I didn't give much thought about who is causing the delay (if it is the banks or Upwork). I just made an observation...

You're probably right because you can't send money to a card, like sending a remittance to an account. Probably the procedure is called a refund, because it is the result of the cancellation of a previous payment and not a new indepedent action.

Anyway, I haven't any other recent cancellations in mind right now, so I can't say if this is the standard time for the refund process or not!

 

Thanks for the clarification, by the way!

Highlighted
Active Member
Tanveer A Member Since: Nov 18, 2017
6 of 10

Is there any specific days/?

Active Member
Ashleigh R Member Since: Aug 22, 2017
7 of 10

Can someone shine some light on the refundable deposit in general?  Our accounting department sent a portion of the final estimated cost of the job and it pulls up as several charges, one being the refundable deposit.  We paid with a credit card.  

 

Thanks!

Moderator
Valeria K Moderator Member Since: Mar 6, 2014
8 of 10

Hi Ashleigh,

 

The two small verification charges were placed on your credit card when you added it as a payment method. The sum of those charges equal $10 and should appear in your credit card statement shortly. Then you can enter those amounts in the verification form in your Settings> Billing Methods and complete the verification. $10 will be refunded back to your credit card.

~ Valeria
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Active Member
Zoey O Member Since: Apr 14, 2019
9 of 10
Hi, i have done the credit card verification last month (about 20 days ago), i still haven't received any refund.
Moderator
Aleksandar D Moderator Member Since: Mar 23, 2019
10 of 10

Hi Zoey,

 

We've checked this for you, and we can confirm that your refund was successful on our end. You can check this under your Transactions. After the refund is initiated, it typically takes 2 to 5 business days for the money to be refunded back to your credit card. If it still hasn't reflected on your account please reach back to us so that we can issue a trace for you.

 

Thank you.

~ Aleksandar
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