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Milestone Refund Process

Milestone Refund Process

Owned by Tiffany Rapp
Jun 05, 2025

  1. Automatic Refunds:

    • Refunds are automatically processed when the status is updated to "return" in the system. 

    • The system automatically refunds the money back to the client's account within a specified timeframe (5 business days for one account, 1 business day for another). 

  2. Handling Checks:

    • If a check has already been mailed out, the internal process involves canceling the check to ensure it cannot be cashed. 

    • For checks, the funds need to be moved from the check account back to the FBO account before processing the refund. 

  3. Handling Card Payments:

    • For reloadable prepaid cards, if funds are moved back to the VFA account, the refund process should be manually controlled to ensure validity. 

    • The process involves unloading the card and notifying the team to manually move the funds from the VFA account back to the kick account. 

  4. Coordination with Accounting:

    • Email accounting to move funds out of the VFA account for reloadable prepaid cards and checks before processing refunds. 

    • Ensure accounting is aware of the process and the need to monitor balances and reconciliation. 

  5. Future Automation:

    • Andrew has a ticket to automate the process of moving funds from the check account and VFA account back to the kick account. 

    • Once the new Ledger is operational, it will enforce balance checks to ensure refunds are only processed if funds are available.