Seatout allows you to define your refund policy and control how you get paid. Enabling refunds affects how (and when) reservation revenue gets disbursed to you. Additionally, Seatout give you reports to view and track your deposit revenue.
Viewing Your Deposit Revenue
Incoming reservation deposit revenue can be viewed on your Transactions page for your business. The page lists all deposits and refunds made in the last 60 days.
|Type||Either Deposit or Refund|
|Party||The name of the party used to make the reservation|
|Reservation||The date of the reservation|
|Deposit||The amount of the deposit (in USD).|
|Service Fee||Seatout’s service fee.|
|Your Revenue||This is the deposit amount, minus the service fee. This is the amount that will be disbursed.|
|Escrow||The escrow status. When refunds are enabled, deposit revenue is held in escrow until 2 days before the reservation.|
|Status||The settlement status of the deposit, from the perspective of your guest.|
|Disbursed||The date the deposit was transferred to your bank account. If blank, the deposit has not been disbursed yet.|
The escrow status column on the Transactions page may be one of the following values:
- Hold Pending: The transaction will be held in escrow once settled.
- Held: The transaction has been transfered from the guest’s account and is now held in escrow and eligible to be released.
- Release pending: The transaction being held in escrow will be released and disbursed shortly.
- Released: The transaction that was being held in escrow has been disbursed to your bank account. Disbursement takes approximately 2 business days.
- Refunded: The transaction that was being held in escrow has been refunded.
- Unrecognized: The transaction has not been placed into escrow.
The status column on the Transactions page may be one of the following values:
- Authorized: The processor authorized the transaction. Your customer may see a pending charge on his or her account.
- Processor declined: The payments processor declined the transaction.
- Submitted for settlement: The transaction has been submitted for settlement and will be included in the next settlement batch. Settlement happens nightly. (The exact time depends on the processor.)
- Settling: The transaction is in the process of being settled. This is a transitory state.
- Settled: The deposit has been withdrawn from the guest’s bank account. Funds are disbursed into escrow (if refunds are enabled) or your bank account (if refunds are disabled) approximately 2 days later.
As part of Seatout’s policies, you may choose to enable or disable refunds. (You can change your refund policy on the Policies Page.)
Allow Refunds: For security reasons, Seatout can never withdraw money from your bank account. Consequently, if you choose to allow refunds, reservation deposit revenue will be held in escrow until 2 days before the scheduled reservation. At that point, the deposit is disbursed to your bank account and refunds are no longer permitted.
Note that when enabled, only owners and staff may initiate a refund. Guests are never able to initiate a refund. Allowing refunds gives the most flexibility to handle guest emergencies and unforeseen circumstances.
Don’t Allow Refunds: Similar to theater, sporting events, or airline tickets, some businesses may opt to disallow refunds. Deposits are considered final, and Seatout will not permit owners or staff to initiate a refund under any circumstance. Deposits will not be held in escrow, and will be disbursed to your bank account in about 2 business days after the reservation is created.
- Changing the refund policy does not retroactively affect existing reservations.
- Due to the nature of the banking system, disbursements take approximately two business days.
- If you disable reservation deposits, you will lose your transaction history. If you wish to disable deposits, we recommend you set the deposit amount to $0 on the Policies page.