6th November 2009
WorldPay Refund Policy
The charges we make for our services are Transaction Fees, a Subscription Fee (which is either paid as an annual lump sum in advance or monthly in advance depending on the territory you operate from), fees relating to specific additional products such as the Recurring Transactions service ("Product Fees"), and a one off Set Up Fee. There are also fees relating to items such as bank charges, processing refunds and chargebacks ("Other Fees"). Details of all our fees can be seen on our website.
If you have applied for an account and paid the Set Up Fee, the Product Fees and the first Subscription Fee in advance, and then changed your mind within 48 hours, we will refund these to you in full. However, if you cancel more than 48 hours after your application, we may levy a reasonable administration charge to cover the costs incurred in dealing with your application.
We cannot provide our services to all businesses, either for legal, reputational or risk reasons. If we decline to offer you an account then we shall refund the Set Up Fee, the Product Fees and the first Subscription Fee paid in advance.
Once we receive your application we will assess your business and review your settlement period (the standard period before we remit transactions to you). This is usually weekly after the first four weeks but we may in certain circumstances wish to amend this. We may also decide that because of the nature of your business and/or your credit score, we need to specify an amount to be held in reserve as security against payments we make to you. We may ask you to pay this to us in a lump sum before you commence trading.
Where, having considered your application, we require a change to your proposed settlement period, or the payment of a security, we will advise you by email of the proposed amendments. If, after receiving this email, but prior to your account being set live, you decide that you do not wish to proceed we shall refund in full the Set Up Fee, the Product Fees and the first Subscription Fee paid in advance.
If, after we have processed your application, accepted you as a merchant and set your account live, you or we decide to terminate the agreement (giving the required period of notice stipulated in the contract), then we will not return the Set Up Fee, or the Transaction Fees, Subscription Fees, Other Fees or Product Fees paid in the duration of the contract elapsed to date.
However, on termination, we will in some cases refund all, or part, of the annual or monthly Subscription Fee paid in advance. In the case of an annual Subscription Fee, we will apportion the Subscription Fee paid in advance to the date of termination and return a proportion to you representing the remainder of the year following the date of termination.
In the case of a monthly Subscription Fee paid in advance, on termination, we may refund an amount at our discretion which represents the remainder of the month following date of termination. This will depend upon the date we receive notice of termination from you and the start date of the billing period concerned.
