When an Instant refund request is sent to Razorpay, our system processes the refunds instantly. The customer receives the refund within minutes (or an hour, sometimes) on their original payment source.
Instant Refunds is a value-added service provided by Razorpay; if and when you opt, Razorpay will charge due consideration for providing instant refund services. You must agree to read and understand the terms of instant refunds before signing up.
Following is a typical flow for instant refunds:
We support the following payment methods for Instant refunds. The list of banks that support Instant refunds differs according to payment methods.
Refunds are sent back to the original payment method used in making the payment. For example, if netbanking was used to make the payment, the refund amount was pushed to the same netbanking details.
For all transactions, the time taken depends on the amount to be refunded:
| Refund Amount | Time Taken for refund |
|---|---|
| Up to ₹5,00,000.00 | Credited immediately to the customer's account. |
| More than ₹5,00,000.00 | Credited within two hours during business hours. For refunds raised beyond working hours, it can take up to 1 business day for the refund to reflect in the customer's account. |
Razorpay charges a small transaction fee to process Instant refunds. The fees is deducted directly from your account balance and reflects under the
In cases where the Instant refund fails and the refund takes 5-7 working days, the levied fee is credited back to your account balance. The fee break-up is shown in the end-of-the-month invoice generated by Razorpay. You can view and download the details from the Instant Refunds Reports from the Razorpay Dashboard.Watch Out!
In the case of instant refunds, the Platform fee charged or deducted for the transaction will not be refunded.
For more details about pricing,