Many times a customer can request a refund of the money they have spent on the purchase if they regret it and it is too late to cancel the purchase at MercadoLibre, or if the product in question arrived in poor condition.
Also, it can happen because the amount that was charged in the transaction was not the one agreed for it. The reason why customers can request a refund can vary, however, the best way to do it is through MercadoPago.
In this way, for you to take advantage of these benefits, we will show you how to make a refund in MercadoPago. In addition, you will learn how long it takes for returns to be credited on this platform.
How to make or make a refund in MercadoPago?
If a customer requests a refund of the money from the purchase in MercadoLibre, whatever the reason, with MercadoPago you can make this refund quickly and safely. Whether you want to return only part of the money or all of it.
To do this, you must log in to your MercadoPago account and select the “Activity” option. Once you enter this option, all the payments you have received from your customers will be displayed. Therefore, you only have to locate the payment for which you want to make the refund.
In addition, MercadoPago gives you the option to locate the transaction by amount and date on which it was made. Once you have found it, you must select it and, in the menu that will be displayed, choose the option “Return money”. Finally you just have to enter the amount of the refund.
Remember, you must reach an agreement with your customers in case they request refunds, since many of your future sales depend on how customers have rated you as a seller on Mercado Libre.
Where is the money from a return credited in MercadoPago?
Once the seller of the product for which you have requested a refund has informed you that he returned the payment, this will be credited to your account depending on how you made the payment in question.
In other words, you should consider whether you paid with money in your MercadoPago account, with a credit card or in cash. Well, each of these modalities has unique characteristics when it comes to refunds.
In this case, if you made your payment with money that was in the account or with another means of payment in cash, the money that has been returned will be immediately added to your MercadoPago account.
On the other hand, if you have paid for your purchase in Mercado Libre with a debit card, the refund made by the seller will appear in the bank account with which you made the payment.
In any of the cases, if you are a seller, you should not worry about paying commissions during the returns of money in Mercado pago. However, it is only possible to make money refunds in Mercado Pago until after 90 days of invoicing the sale.
How long does it take for a refund in MercadoPago?
Many users know what they must do to withdraw money from MercadoPago, as well as how to make money refunds from it, but they do not know how long it takes for the money refund to be credited in MercadoPago.
Once the seller has informed you that he has made the return of the money, you should consider the way in which you initially paid for the purchase of the product. Well, this will depend on how long it takes to credit your money to your account.
In this way, in case you have canceled the purchase by means of a transfer, deposit or cash, you will receive the money in MercadoPago immediately. This also happens in this way if the payment you made was from your money on the MercadoPago platform.
On the other hand, if you made a purchase and paid with a credit or debit card, after the seller makes the refund, the money will be credited to your bank account. The time it may take will depend on the bank to which you are affiliated. However, the term is usually between 2 and 35 days.