In the case of a bounce back, Wise will need to refund back to the sender. There are multiple methods to refund to the sender:
- Direct Refund to Sender Bank Account
- Direct Refund to Balance
- Net Settlement
Please follow the guide below for Direct Refund to Sender Bank Account and Direct Refund to Balance.
To refund to a bank account, it is necessary for you to provide a refund recipient for refund purposes. This refund recipient has to be a bank account owned by the sender.
If you have not created a Refund Recipient for your user’s source bank account, you will have to create it here. The source bank account is the bank account from which the money is deducted to fund the transfer.
A Refund Recipient is similar to a normal recipient, but is used to specify where the money should be refunded to during cases where there are bounce backs or if we are unable to send to the intended recipient.
This can be done with the Create a Refund Recipient API.
If the customer has a Wise account balance, this balance can serve as a refund recipient. To use the Wise account balance as a refund recipient, we will need to get the Recipient ID of the balance.
To get the Balance Recipient ID, please see the Retrieve multi currency account for a profile API reference.
From the Multi Currency Account object response, there will be a
recipientId field. This will be the Recipient ID that can be used as the refund recipient.