When will my refund be credited?
The cards provided by the platform are international cards; therefore, refunds are not processed in real-time. During the process where a merchant issues a refund to the bank and then to Roogoo, a clearing and settlement process is required. Once completed, the refund will be credited directly to your card balance.
The timeframe for the refund depends on the bank's processing time. Generally speaking, once the merchant initiates the refund, it enters the bank's clearing system. After clearing is finalized, the funds will return to your card balance. This typically takes 7 to 15 business days, though it can take up to 30 business days in some cases.
Once the refund has been successfully credited, it will appear in your billing details.
For a full explanation of cross-border card payments, please refer to: Features and Instructions for Cross-Border Card Payments.
Why is my transaction status "Settling"?
The "Settling" status indicates that the bank and the merchant are currently processing the fund transfer. Cross-border payments with international cards require a specific amount of time to complete the interbank clearing process.
Cross-border payments involve various factors and stages:
Merchant Confirmation: The merchant needs to confirm receipt of funds or verify that the service has been completed before final settlement can occur.
Reconciliation: The platform is reconciling accounts with payment institutions to ensure the accuracy of the transaction amount.
Settlement Cycles: Many platforms operate on fixed settlement cycles (e.g., T+1, T+3, T+7, or T+21). During this window, the status will remain "Settling."
Risk Assessment: For certain transactions, the platform may perform a risk review to verify the legitimacy of the payment.
Therefore, consumer orders are typically finalized within 1 to 21 days.
For a full explanation of cross-border card payments, please refer to: Features and Instructions for Cross-Border Card Payments.
Why did the transaction fail?
Transaction failed due to insufficient balance; the bank will charge a decline fee of 2%+ based on the decline rate.
Ensure funds are credited before spending: Please make sure your top-up has been successfully credited to your card balance before attempting any transactions.
When making a purchase, please ensure your card balance is 3%–5% higher than the transaction amount, and that at least $0.50–$1.00 USD remains in your balance after the payment.
Please avoid transactions that would deplete your entire balance, as this may leave insufficient funds to cover transaction and cross-border fees, resulting in a "Declined: Insufficient Funds" error.
Note for Zero-Fee Users: Even if your card has "Lifetime" or "Trial" zero-fee benefits, the bank will still initially deduct the transaction and cross-border fees and then refund them according to your benefits. Therefore, you must still ensure your balance exceeds the purchase amount by 3%–5% to allow the transaction to process successfully.
Alipay/WeChat Pay (China Region) Requirements: For transactions via Alipay or WeChat Pay, please ensure your balance exceeds the purchase amount by at least 8%. This is because these platforms charge an additional 3% fee for any transaction exceeding 200 CNY.
Merchant Rejection: In this case, no billing record will be generated on your card. Please contact the merchant's customer service for further information.
Transaction Cancellation (by Merchant or User): A billing record will be generated on your card, and the bank will charge a $1 USD cancellation fee.
Bank MCC Risk Control: If the merchant is flagged as high-risk by the bank, or the transaction is categorized as high-risk via the MCC (Merchant Category Code), the bank will decline authorization, resulting in a failed transaction.
Please avoid frequent refunds, transaction failures, or payment cancellations. If your combined refund and failure rate exceeds 20%, your card may be frozen and deleted. To prevent malicious refund activities, a 3% processing fee will be charged for any user-initiated refunds; please avoid frequent refund requests. If your card is frozen or deleted, please contact Roogoo Customer Service to reset your account status, and you will be required to re-apply for a new card.
Transaction Failure Fees： Please refer to the "Rates, Fees, and Cross-Border Exchange Rates" of Roogoo Card.
About Cross-Border Exchange Rates
Please refer to the "Rates, Fees, and Cross-Border Exchange Rates" of Roogoo Card.
We also provide a Consumption Calculator for our users. You can check the exchange rates and various fees before making a purchase to ensure transparent spending. You can find the Consumption Calculator here:
Why do small charges and small refunds appear in my billing history?
The settlement cycle for international card payments typically takes 1 to 21 days, and the final exchange rate is determined on the settlement date. Therefore, due to fluctuations in exchange rates, small amounts may be charged or refunded to reconcile the difference in the exchange rate between the transaction date and the settlement date.
For a full explanation of cross-border card payments, please refer to: Features and Instructions for Cross-Border Card Payments.