Refund Process for Paysafe Merchant Accounts

Owned by Annick Chiasson
Oct 24, 2024
1 min read

Paysafe merchant accounts allow you to process refunds by debiting the bank account linked to your Paysafe merchant account for amounts up to $2,000.

For refunds exceeding $2,000, you will need to transfer the total refund amount to Paysafe so it can be deposited into your merchant account, ensuring sufficient funds for processing your refunds.

Below are the instructions for transferring funds to Paysafe for your merchant account:

Bank Transfer Instructions

At the time of transfer, please notify Paysafe by sending an email to customersupport@paysafe.com with the following details:

  • Subject: Transfer of funds to merchant account #xxxxxxxxxx

  • Message Content:

    • Amount transferred: $xxxxx.xx

    • Bank information (e.g., Bank XYZ)

    • Name of your sports organization

    • Bank account details

    • Request to hold the transferred amount until further instructions

  • Beneficiary Information ( Paysafe) :

    • Beneficiary: Peoples Trust

    • Address: 762 - 888 Dunsmuir Street, Vancouver, BC V6C 3K4

    • Bank Transit: 00040

    • Bank Number: 001

    • Account Number: 1748-656

    • Beneficiary Bank: Bank of Montreal

    • BIC/Routing #: 001-00040

Refund Processing Steps

  • Validate Your Merchant Account Balance: Log in to Netbanx to confirm your current balance.

  • Determine If Additional Funds Are Needed:

    • If your balance is sufficient, proceed with the refunds directly through the platform.

    • If your balance is insufficient, initiate the bank transfer as outlined above.

  • Confirm Receipt Before Proceeding: Do not initiate refunds until you receive confirmation from the Paysafe support team that the transfer has been received. You can also check your balance via Netbanx.