Moneris Refunding Limits

When an account is created with Moneris, the refund limit for an organization is determined. Often the daily limit is set to $5,000. The daily limit for voiding transactions for most merchants is only $500. During a traditional business day, this is often more then enough. However, when an event is cancelled, the value of refunds can be far higher then standard $5,000 limit.

When an increase to the refund limit is required, you can make a request to Moneris. The increase usually lasts for a day. If more than a one day increase is needed, each day must be requested individually. Details about the refund date, required amount, banking information and security questions are required in advance of making the request.

It's important you choose a date to process the cancelled events refunds. Consider a date when staff are available to complete the process and you have collected the refund details. The majority, if not all refunds, should be completed on this day, as the refund value will default back to the company limit on the following business day.

You will need to calculate the expected amount of the refunds. You can use the Ticket Printing, Invoicing and Inventory Analysis >> Revenues by Payment Method - Ticket Based report. This report can determine how much was originally purchased using credit cards, thus helping determine the amount to be refunded.

Once the above information is collected, the Moneris representative can be contacted. Provide them the merchant account number to locate the organizations record. Arrangements can be made for the increase and the refunds can be completed. For details on refunding tickets through Theatre Manager click here.