Refund Policy

Credit Card Terminals

All terminals purchased from Velocity have a one-year warranty as provided by the manufacturer. The warranty covers product defect, but does not cover power surges or equipment tampering. If your credit card machine becomes inoperable, please contact Velocity so that we can provide you with another credit card terminal as quickly as possible.

Gateways

Velocity is a licensed reseller for several gateways. Our gateway prices are consistently monitored to ensure that our prices are the same (or lower) than the advertised price from the gateway provider. Velocity charges one-time setup fees for creating your gateway as requested in our application. These one-time fees are not refundable if you requested the creation of the account. Gateway providers perform their own billing, and for security purposes, Velocity does not have access to your gateway once it has been activated. Questions regarding refunds for payments made to a gateway provider should be directed to the gateway provider, however Velocity will always assist when applicable.

ACH Debits

For payments initiated through an ACH debit, Velocity will issue an ACH credit back to the bank account where the ACH debit was transacted. If you believe that the amount debited from your bank account is incorrect, please notify us so that we can perform the necessary research immediately. If an error is identified, we will gladly initiate an ACH back to your account. It is important to note that many institutions use ACH as a form of collecting payments. Please verify that the debit from your account is in fact from Velocity Processing.

Credit Card Payments

For payments initiated through a credit card, Velocity will issue a refund to that same credit card. If you believe that the amount charged to your credit card is incorrect, please notify us so that we can perform the necessary research immediately. If an error is identified, we will gladly initiate an refund back to your credit card. Please note that once the refund has been issued, your issuing bank will post the refund to your account pursuant to the terms and conditions of your card holder agreement. Please contact your issuing bank directly if you have specific questions regarding the time for your refund to post to your account as refunds may not be posted immediately.

Check Payments

For payments initiated by check, Velocity will issue a check to refund the amount due. If you believe that the amount of your check is incorrect, please notify us so that we can perform the necessary research immediately. If an error is identified, we will gladly issue a refund check made payable to the same company that issued the original check.

Facilitating Refunds

Velocity is not authorized to facilitate refunds on behalf of your organization to refund money due to your clients (payments made by your customers) pursuant to the rules and regulations of the card associations.
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