Refund via SCT

Overview

The SCT Refund operation allows money to be refunded from the customer's Wallet to a validated bank account via wire transfer.

Like all other transactions, SCT Refund is composed by two steps: Initialization and Confirmation/Cancellation. During the initialization phase, fees are calculated and a pending transaction is kept on the user's Wallet; finally, an asynchronous TransactionInitialized event is raised.

After that, the User can choose whether to confirm or cancel the transaction; if the transaction is cancelled, the User's pending transaction is also removed and an asynchronous TransactionCancelled event is generated. Otherwise, if the transaction is confirmed, the User's wallet balance is updated and an asynchronous TransactionConfirmed event is generated.

At the SCT cutoff time, the SCT is generated and sent to the IBAN previously validated by the user. The date of the amount received in the user's bank account depends on the bank's conditions and is regulated by SEPA rules.