Refunds can happen for different reasons, maybe a merchant cancelled your order, you returned an item, or a service wasn't delivered as expected. No matter the situation. It is important to know how refunds work.
1. Refund Before Settlement (Reversal)
This happens when the merchant cancels the payment before it is settled.
What happens:
The hold is released, and funds return to the available balance immediately.
No refund transaction appears because nothing was charged.
Timeline:
✔️ Instant: Your available balance updates immediately.
2. Full Refund After Settlement
This happens when the payment has already been settled, but the merchant decides to issue a refund.
What happens:
The full amount charged by the merchant is sent back to your USD wallet.
You will see a refund transaction in your history.
Timeline:
✔️ Usually 1–14 business days, depending on the merchant.
3. Partial Refund
This applies when only part of your payment is returned. For example, if you returned one item from a larger order.
What happens:
The partial refund is added to your USD wallet.
You will see a refund transaction in your history for the partial amount.
Timeline:
✔️ Usually 1–14 business days, depending on the merchant.
Refunds are always credited to your USD balance. No matter which currency you used for the original purchase, the refund will be sent to your USD wallet only.
The refund only covers the amount the merchant sends back. Conversion and FX fees are not returned. Please note that the merchant, not Grey, charges FX fees.