Question
What is the difference between a refund, credit, and credit memo?
Applies To
- Billing
Answer
If you require compensation for an issue, there are three ways that this can be applied to your account.
- Refund - This only applies to credit card and ACH customers. 8x8 can return money back to the payment type on file. However, there are limitations that we can only refund the amount that has been charged. Our system also only allows for refunds up to 6 months old and back to a valid payment type. If a credit card or bank account is expired or closed, we cannot refund back to that card. If a refund is still required, then the Collections team will need to process a Check refund. It can take 4-6 weeks for 8x8 to remit the Check refund.
- Credit - This only applies to credit card and ACH customers. We can add a credit to an account, affecting the next month's service charges. This credit will not go against any taxes or fees, and any unused credit will roll over to the next month's service.
- Credit Memo - This only applies to invoice customers. If you receive a credit memo, the credit will be a separate transaction which should be applied to open invoices and payment remitted for the net due. Send the payment remittance details to CashAppUS@8x8.com for US accounts or remittance-uk@8x8.com for European accounts to ensure accurate application. Otherwise, it will remain as a negative open balance on a customer's aging and will not be applied. If you receive a credit memo, we recommend that it is used as soon as possible to keep your account current.
How long will it take for me to get my credit or refund?
If you’re expecting a refund or credit, depending on how you pay, it may take a different amount of time to get those to you.
Credits
- For credit card or ACH customers, a credit to the account will show up on your next month’s billing cycle. If your credit has been applied on June 15th, you’ll see that on your July bill.
- For invoice customers, you’ll receive a credit memo that you can apply to any open invoices. Once you receive a confirmation email from our finance department that it’s ready, let them know where you want them to apply it!
Refunds
- For credit card or ACH customers receiving a refund back to the card or account on file, you should receive funds within 3-5 business days after email confirmation that the refund has been processed.
- If you’re receiving a check, due to our check run schedule, it may take up to 7 to 10 business days for you to receive your check.