How do refunds work in Flex
There are two ways you can buy with Flex. You can use your virtual card, or you can pay with your Monzo debit card and then move the transaction to Flex up to two weeks after you made the payment. There’s more here about two ways to pay
So refunds can appear differently depending on whether you used the virtual card or moved the transaction to Flex after.
If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. You can use that refund to pay-off the Flex instalment plan by tapping ‘pay off extra’ - or keep it in your current account and just pay off the remaining instalments on your Flex payment date.
Flex at checkout
If you paid with the virtual card, the refund might come into your current account, but more often it will directly go towards paying off the Flex instalment plan it’s connected to. If the refund is for the full value of the purchase, there will often be some left over which we’ll put back into your current account.
So if you bought something for £30, flexed it over 3 instalments; and then sent it back for a full refund, you’d see £20 of the refund paid-off the instalment plan, and your first instalment of £10 refunded to your current account.
If you’ve been told by the retailer that they’ve sent you a refund, it’s always worth checking the instalment plan to see if some of the balance has been paid-off, and whether a smaller amount has come back to your current account at the same time.
Most refunds will come back within a day or two but sometimes they can take up to 2 weeks, so it's always worth checking your Flex 'Manage' tab and current account.
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