Refund Status Notifications

The payment reference identifies a payment.

The format for a payment reference is:

Recipient ID followed by a string of characters, for example FWU744586810.

With the payment reference, the payment can be tracked during its journey through the different stages of the payment process.

The payment reference is also important in other situations, for example:

• When a payer is using bank transfer as payment method, they usually must provide the payment reference when sending the funds.

• The payment reference helps Flywire to identify the payment if you or your payer needs support.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund can have the following statuses:

Status	Description
initiated	You have created a refund.
failed	There was a problem trying to create the refund. Reasons for a failed refund Error Reason Description not_found The payment that the refund is supposed to be created for can't be found. already_refund The payment that the refund is supposed to be created for already has a refund in progress. A payment can only have one active refund at a time. When the refund is done (in status finished) you can create a new refund for the payment. status The payment that the refund is supposed to be created for is in a status that doesn't allow a refund to be created. A payment needs to be in status delivered before you can create a refund for it (see Payment Statuses for details about payment statuses). amount_ over_ remaining_ balance The amount of the refund is bigger than the remaining payment balance. minimum_ threshold The amount of the refund is less than the minimum amount configured for the recipient. What is the minimum amount configured for a recipient? The settings of a recipient define the minimum and maximum amount for a payment. These limits are defined when you set up the recipient with Flywire. If you didn't customize the settings, the default limits are: Minimum: 5000 = 50.00 USD Maximum: 15000000 = 150000.00 USD When payments to your recipient contain multiple items, the limits apply to the sum of the amounts of all items. What happens when a payment is not within the defined settings? When you try to create a payment with an amount that is below or above the set limits, you will not be able to create the payment and an error response will be returned. currency Currency mismatch. multiple The payment that the refund is supposed to be created for is already fully refunded.
received	Flywire has received your money for the refund.
cancelled	When you cancel a refund, Flywire will not process the refund. Cancelling a Refund Essentials - What You Should Know: You can only cancel a refund that is in status initiated, meaning that Flywire has not taken the first step for processing the refund and no money has been moved yet. You can cancel a refund before and after the cut-off time of a recipient. You can't cancel a refund bundle.
finished	Flywire has transferred the money back to your payer. If a refund moves back from finished to received, it means Flywire couldn't transfer the money because the payer's bank rejected it. You don't need to take any action. Flywire will keep trying and notify you if the issue continues.
returned	After Flywire received the money from you, Flywire returned the money back to you instead of returning it to your payer. In the rare case that a refund moves back from returned to received, it means that Flywire couldn't transfer the money back to you. Flywire will contact you if that happens.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

The payment reference identifies a payment.

The format for a payment reference is:

Recipient ID followed by a string of characters, for example FWU744586810.

With the payment reference, the payment can be tracked during its journey through the different stages of the payment process.

The payment reference is also important in other situations, for example:

• When a payer is using bank transfer as payment method, they usually must provide the payment reference when sending the funds.

• The payment reference helps Flywire to identify the payment if you or your payer needs support.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund can have the following statuses:

Status	Description
initiated	You have created a refund.
failed	There was a problem trying to create the refund. Reasons for a failed refund Error Reason Description not_found The payment that the refund is supposed to be created for can't be found. already_refund The payment that the refund is supposed to be created for already has a refund in progress. A payment can only have one active refund at a time. When the refund is done (in status finished) you can create a new refund for the payment. status The payment that the refund is supposed to be created for is in a status that doesn't allow a refund to be created. A payment needs to be in status delivered before you can create a refund for it (see Payment Statuses for details about payment statuses). amount_ over_ remaining_ balance The amount of the refund is bigger than the remaining payment balance. minimum_ threshold The amount of the refund is less than the minimum amount configured for the recipient. What is the minimum amount configured for a recipient? The settings of a recipient define the minimum and maximum amount for a payment. These limits are defined when you set up the recipient with Flywire. If you didn't customize the settings, the default limits are: Minimum: 5000 = 50.00 USD Maximum: 15000000 = 150000.00 USD When payments to your recipient contain multiple items, the limits apply to the sum of the amounts of all items. What happens when a payment is not within the defined settings? When you try to create a payment with an amount that is below or above the set limits, you will not be able to create the payment and an error response will be returned. currency Currency mismatch. multiple The payment that the refund is supposed to be created for is already fully refunded.
received	Flywire has received your money for the refund.
cancelled	When you cancel a refund, Flywire will not process the refund. Cancelling a Refund Essentials - What You Should Know: You can only cancel a refund that is in status initiated, meaning that Flywire has not taken the first step for processing the refund and no money has been moved yet. You can cancel a refund before and after the cut-off time of a recipient. You can't cancel a refund bundle.
finished	Flywire has transferred the money back to your payer. If a refund moves back from finished to received, it means Flywire couldn't transfer the money because the payer's bank rejected it. You don't need to take any action. Flywire will keep trying and notify you if the issue continues.
returned	After Flywire received the money from you, Flywire returned the money back to you instead of returning it to your payer. In the rare case that a refund moves back from returned to received, it means that Flywire couldn't transfer the money back to you. Flywire will contact you if that happens.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

The payment reference identifies a payment.

The format for a payment reference is:

Recipient ID followed by a string of characters, for example FWU744586810.

With the payment reference, the payment can be tracked during its journey through the different stages of the payment process.

The payment reference is also important in other situations, for example:

• When a payer is using bank transfer as payment method, they usually must provide the payment reference when sending the funds.

• The payment reference helps Flywire to identify the payment if you or your payer needs support.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund can have the following statuses:

Status	Description
initiated	You have created a refund.
failed	There was a problem trying to create the refund. Reasons for a failed refund Error Reason Description not_found The payment that the refund is supposed to be created for can't be found. already_refund The payment that the refund is supposed to be created for already has a refund in progress. A payment can only have one active refund at a time. When the refund is done (in status finished) you can create a new refund for the payment. status The payment that the refund is supposed to be created for is in a status that doesn't allow a refund to be created. A payment needs to be in status delivered before you can create a refund for it (see Payment Statuses for details about payment statuses). amount_ over_ remaining_ balance The amount of the refund is bigger than the remaining payment balance. minimum_ threshold The amount of the refund is less than the minimum amount configured for the recipient. What is the minimum amount configured for a recipient? The settings of a recipient define the minimum and maximum amount for a payment. These limits are defined when you set up the recipient with Flywire. If you didn't customize the settings, the default limits are: Minimum: 5000 = 50.00 USD Maximum: 15000000 = 150000.00 USD When payments to your recipient contain multiple items, the limits apply to the sum of the amounts of all items. What happens when a payment is not within the defined settings? When you try to create a payment with an amount that is below or above the set limits, you will not be able to create the payment and an error response will be returned. currency Currency mismatch. multiple The payment that the refund is supposed to be created for is already fully refunded.
received	Flywire has received your money for the refund.
cancelled	When you cancel a refund, Flywire will not process the refund. Cancelling a Refund Essentials - What You Should Know: You can only cancel a refund that is in status initiated, meaning that Flywire has not taken the first step for processing the refund and no money has been moved yet. You can cancel a refund before and after the cut-off time of a recipient. You can't cancel a refund bundle.
finished	Flywire has transferred the money back to your payer. If a refund moves back from finished to received, it means Flywire couldn't transfer the money because the payer's bank rejected it. You don't need to take any action. Flywire will keep trying and notify you if the issue continues.
returned	After Flywire received the money from you, Flywire returned the money back to you instead of returning it to your payer. In the rare case that a refund moves back from returned to received, it means that Flywire couldn't transfer the money back to you. Flywire will contact you if that happens.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

The payment reference identifies a payment.

The format for a payment reference is:

Recipient ID followed by a string of characters, for example FWU744586810.

With the payment reference, the payment can be tracked during its journey through the different stages of the payment process.

The payment reference is also important in other situations, for example:

• When a payer is using bank transfer as payment method, they usually must provide the payment reference when sending the funds.

• The payment reference helps Flywire to identify the payment if you or your payer needs support.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund can have the following statuses:

Status	Description
initiated	You have created a refund.
failed	There was a problem trying to create the refund. Reasons for a failed refund Error Reason Description not_found The payment that the refund is supposed to be created for can't be found. already_refund The payment that the refund is supposed to be created for already has a refund in progress. A payment can only have one active refund at a time. When the refund is done (in status finished) you can create a new refund for the payment. status The payment that the refund is supposed to be created for is in a status that doesn't allow a refund to be created. A payment needs to be in status delivered before you can create a refund for it (see Payment Statuses for details about payment statuses). amount_ over_ remaining_ balance The amount of the refund is bigger than the remaining payment balance. minimum_ threshold The amount of the refund is less than the minimum amount configured for the recipient. What is the minimum amount configured for a recipient? The settings of a recipient define the minimum and maximum amount for a payment. These limits are defined when you set up the recipient with Flywire. If you didn't customize the settings, the default limits are: Minimum: 5000 = 50.00 USD Maximum: 15000000 = 150000.00 USD When payments to your recipient contain multiple items, the limits apply to the sum of the amounts of all items. What happens when a payment is not within the defined settings? When you try to create a payment with an amount that is below or above the set limits, you will not be able to create the payment and an error response will be returned. currency Currency mismatch. multiple The payment that the refund is supposed to be created for is already fully refunded.
received	Flywire has received your money for the refund.
cancelled	When you cancel a refund, Flywire will not process the refund. Cancelling a Refund Essentials - What You Should Know: You can only cancel a refund that is in status initiated, meaning that Flywire has not taken the first step for processing the refund and no money has been moved yet. You can cancel a refund before and after the cut-off time of a recipient. You can't cancel a refund bundle.
finished	Flywire has transferred the money back to your payer. If a refund moves back from finished to received, it means Flywire couldn't transfer the money because the payer's bank rejected it. You don't need to take any action. Flywire will keep trying and notify you if the issue continues.
returned	After Flywire received the money from you, Flywire returned the money back to you instead of returning it to your payer. In the rare case that a refund moves back from returned to received, it means that Flywire couldn't transfer the money back to you. Flywire will contact you if that happens.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund bundle can have the following statuses and notifications:

Status	Notification	Description
pending	pending	The refund bundle has been successfully created.
	marked for approval	Only for refund bundles that require manual approval. The cut-off time for the refund bundle has been reached and the bundle is now ready for approval. What are manual and automatic approvals? All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed: Type of approval approval_type setting for the recipient Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle). manual Automatic approval Flywire processes refund bundles automatically after the cut-off time. automatic     To add or change the settings for refund approvals of a recipient please contact the Solutions team. What is the cut-off time? The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed. The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient. You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.
approved	approved	The refund bundle has been approved, either manually by you or automatically by Flywire.
debited	debited	Flywire has requested the money for the refund from the original recipient through direct debit. This status only occurs when Flywire collects the funds via direct debit from the original recipient of the payment. More about how Flywire collects money for refunds There are three ways for how Flywire can collect the money for the refund from the original recipient of the payment. Which method is being used depends on what the original recipient of the payment agreed on with Flywire. Bank transfer If bank transfer is used as a refund collection method, Flywire will request the original recipient of the payment to transfer the money for the refund to Flywire. Netting Netting refers to a method used to simplify transactions. By offsetting the value of multiple payments between you and Flywire into a single net amount, it reduces the number of individual transactions. Simplified example: You have to pay Flywire $200 because you have to refund money to your payers. At the same time, Flywire has to pay you $500 because you have new payments incoming. Instead of exchanging $200 and $500 separately, netting combines these amounts and you'll receive only $300 from Flywire while Flywire takes no money from you. Essentials about using netting as a refund collection method Refunds will only be processed when Flywire has received enough funds from new payments to offset them against the pending refunds. This means if the original recipient doesn't have a constant stream of new incoming payments, it can take a while before refunds are processed. This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method. Direct debit If direct debit is used a refund collection method, the original recipient of the payment allows Flywire to collect the money for refunds from their bank account automatically. Essentials about using direct debit as a refund collection method This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method.
received	received	Flywire has received your money for the refund bundle.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund bundle can have the following statuses and notifications:

Status	Notification	Description
pending	pending	The refund bundle has been successfully created.
	marked for approval	Only for refund bundles that require manual approval. The cut-off time for the refund bundle has been reached and the bundle is now ready for approval. What are manual and automatic approvals? All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed: Type of approval approval_type setting for the recipient Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle). manual Automatic approval Flywire processes refund bundles automatically after the cut-off time. automatic     To add or change the settings for refund approvals of a recipient please contact the Solutions team. What is the cut-off time? The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed. The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient. You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.
approved	approved	The refund bundle has been approved, either manually by you or automatically by Flywire.
debited	debited	Flywire has requested the money for the refund from the original recipient through direct debit. This status only occurs when Flywire collects the funds via direct debit from the original recipient of the payment. More about how Flywire collects money for refunds There are three ways for how Flywire can collect the money for the refund from the original recipient of the payment. Which method is being used depends on what the original recipient of the payment agreed on with Flywire. Bank transfer If bank transfer is used as a refund collection method, Flywire will request the original recipient of the payment to transfer the money for the refund to Flywire. Netting Netting refers to a method used to simplify transactions. By offsetting the value of multiple payments between you and Flywire into a single net amount, it reduces the number of individual transactions. Simplified example: You have to pay Flywire $200 because you have to refund money to your payers. At the same time, Flywire has to pay you $500 because you have new payments incoming. Instead of exchanging $200 and $500 separately, netting combines these amounts and you'll receive only $300 from Flywire while Flywire takes no money from you. Essentials about using netting as a refund collection method Refunds will only be processed when Flywire has received enough funds from new payments to offset them against the pending refunds. This means if the original recipient doesn't have a constant stream of new incoming payments, it can take a while before refunds are processed. This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method. Direct debit If direct debit is used a refund collection method, the original recipient of the payment allows Flywire to collect the money for refunds from their bank account automatically. Essentials about using direct debit as a refund collection method This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method.
received	received	Flywire has received your money for the refund bundle.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund bundle can have the following statuses and notifications:

Status	Notification	Description
pending	pending	The refund bundle has been successfully created.
	marked for approval	Only for refund bundles that require manual approval. The cut-off time for the refund bundle has been reached and the bundle is now ready for approval. What are manual and automatic approvals? All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed: Type of approval approval_type setting for the recipient Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle). manual Automatic approval Flywire processes refund bundles automatically after the cut-off time. automatic     To add or change the settings for refund approvals of a recipient please contact the Solutions team. What is the cut-off time? The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed. The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient. You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.
approved	approved	The refund bundle has been approved, either manually by you or automatically by Flywire.
debited	debited	Flywire has requested the money for the refund from the original recipient through direct debit. This status only occurs when Flywire collects the funds via direct debit from the original recipient of the payment. More about how Flywire collects money for refunds There are three ways for how Flywire can collect the money for the refund from the original recipient of the payment. Which method is being used depends on what the original recipient of the payment agreed on with Flywire. Bank transfer If bank transfer is used as a refund collection method, Flywire will request the original recipient of the payment to transfer the money for the refund to Flywire. Netting Netting refers to a method used to simplify transactions. By offsetting the value of multiple payments between you and Flywire into a single net amount, it reduces the number of individual transactions. Simplified example: You have to pay Flywire $200 because you have to refund money to your payers. At the same time, Flywire has to pay you $500 because you have new payments incoming. Instead of exchanging $200 and $500 separately, netting combines these amounts and you'll receive only $300 from Flywire while Flywire takes no money from you. Essentials about using netting as a refund collection method Refunds will only be processed when Flywire has received enough funds from new payments to offset them against the pending refunds. This means if the original recipient doesn't have a constant stream of new incoming payments, it can take a while before refunds are processed. This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method. Direct debit If direct debit is used a refund collection method, the original recipient of the payment allows Flywire to collect the money for refunds from their bank account automatically. Essentials about using direct debit as a refund collection method This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method.
received	received	Flywire has received your money for the refund bundle.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.

Flywire processes refunds collectively in refund bundles to streamline the reconciliation process. Bundling refunds means Flywire only needs to collect money from the original payment recipient once, reducing the number of transactions needed for refunds.

The refund bundle cycle

1. Creating a refund for recipient A automatically generates a refund bundle for recipient A.

2. Each recipient has a set cut-off time for their refund bundles. All refunds created for the recipient will be added to the bundle until the cut-off time is reached.

   More details about the cut-off time

   The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed.

   The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient.

   You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.

3. When the cut-off time for recipient A is reached, Flywire either processes the bundle or requires your approval first, based on the recipient's settings.

   More details about approvals

   All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed:

   Type of approval	approval_type setting for the recipient
   Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle).	manual
   Automatic approval Flywire processes refund bundles automatically after the cut-off time.	automatic

    

    

   To add or change the settings for refund approvals of a recipient please contact the Solutions team.

    

   For details about how to approve a refund bundle see see Approving a refund bundle.

4. Creating a refund for recipient A now creates a new bundle (no matter if the previous bundle is being processed or waiting for approval) and the cycle starts again.

Refund Bundle Essentials: What You Should Know

• A refund bundle has a bundle ID that enables you to identify it and retrieve all refunds in this bundle.

• Refunds and bundles are recipient-specific. The settings for refunds (how the money will be collected, the cut-off time for refund bundles, and if approvals are needed for a bundle) depend on the recipient of the original payment.

• A refund is always part of a refund bundle, even if the bundle only contains one refund. This means even if you only create one single refund, there will automatically be a refund bundle created for it.

A refund bundle can have the following statuses and notifications:

Status	Notification	Description
pending	pending	The refund bundle has been successfully created.
	marked for approval	Only for refund bundles that require manual approval. The cut-off time for the refund bundle has been reached and the bundle is now ready for approval. What are manual and automatic approvals? All refund bundles must be approved before processing, but there is a difference between how they get approved. It depends on the settings for the recipient of the original payment which type of approval is needed: Type of approval approval_type setting for the recipient Manual approval Manual approvals create an extra step in processing refunds. Flywire waits for your approval before processing a refund bundle (see Approving a refund bundle). manual Automatic approval Flywire processes refund bundles automatically after the cut-off time. automatic     To add or change the settings for refund approvals of a recipient please contact the Solutions team. What is the cut-off time? The cut-off time controls when Flywire starts to process pending refunds. Since Flywire processes refunds in bundles and not as single refunds, there is a time span where you can add more refunds to a bundle before it gets processed. For example, if the cut-off time is 1 day, you can add more refunds to the refund bundle for 1 day until Flywire starts processing it or - if your refund bundles need approval - until the bundle can be approved and then processed. The cut-off time is set individually for each recipient. Please contact the Solutions team if you want to set or change the cut-off time for a recipient. You can also specify a timezone when setting up the cut-off time for a recipient with Flywire.
approved	approved	The refund bundle has been approved, either manually by you or automatically by Flywire.
debited	debited	Flywire has requested the money for the refund from the original recipient through direct debit. This status only occurs when Flywire collects the funds via direct debit from the original recipient of the payment. More about how Flywire collects money for refunds There are three ways for how Flywire can collect the money for the refund from the original recipient of the payment. Which method is being used depends on what the original recipient of the payment agreed on with Flywire. Bank transfer If bank transfer is used as a refund collection method, Flywire will request the original recipient of the payment to transfer the money for the refund to Flywire. Netting Netting refers to a method used to simplify transactions. By offsetting the value of multiple payments between you and Flywire into a single net amount, it reduces the number of individual transactions. Simplified example: You have to pay Flywire $200 because you have to refund money to your payers. At the same time, Flywire has to pay you $500 because you have new payments incoming. Instead of exchanging $200 and $500 separately, netting combines these amounts and you'll receive only $300 from Flywire while Flywire takes no money from you. Essentials about using netting as a refund collection method Refunds will only be processed when Flywire has received enough funds from new payments to offset them against the pending refunds. This means if the original recipient doesn't have a constant stream of new incoming payments, it can take a while before refunds are processed. This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method. Direct debit If direct debit is used a refund collection method, the original recipient of the payment allows Flywire to collect the money for refunds from their bank account automatically. Essentials about using direct debit as a refund collection method This refund collection method is not available by default, you need to set it up together with Flywire. Please contact the Solutions team if you want to use this method.
received	received	Flywire has received your money for the refund bundle.

The billing currency is the currency in which the recipient of the payment is billing their payer. The billing currency depends on the recipient's configuration and is defined when the recipient is set up by Flywire.