We've recently updated our refund processing system to improve your experience. This article will cover:
How refunds used to work on Slash
How refunds work now
Why we've made this change
How refunds used to work on Slash
Previously, when you received a refund from a merchant (for example, a $100 refund from Ticketmaster), our system would process it differently depending on your credit account balance:
When credit account balance was $0 at time of refund:
Refund was credited to your cash account immediately, increasing your cash account balance by the amount of the refund
When there was a positive balance on the credit account (you owe money):
If the refund was greater than the amount owed on your credit account, we would use part of the refund to completely pay off your credit account, and the remaining part of the refund would be added to your cash account, increasing the balance in your cash (checking) account.
This resulted in two transactions on your bank statement for the same refund — one on your credit account and one on your cash account.
To illustrate this: if you had a $50 amount owed on your credit account when Ticketmaster issued your $100 refund, you would see two transactions on your statements:
$50 refund from Ticketmaster to your credit account paying off the amount owed
$50 refund from Ticketmaster credited to your cash checking account
This created potentially confusing statements with multiple entries — for what was essentially one refund transaction.
How refunds work now
We've streamlined the refund process to make your financial picture clearer. Now, all refunds follow a single, more intuitive transaction flow:
When you receive a refund, all refunds will directly be applied to your credit account balance, even if it means the balance becomes negative.
In this scenario, any new transaction that settles while your credit account balance is negative will simply increase your credit account balance as usual.
At 4:55pm PST each day, the system checks your credit account balance:
If your credit account balance is still positive, we process a Daily Credit Card Payment, from your cash checking account
If your credit account balance is negative, we process a Disbursement Reversal which will credit the balance to your cash checking out and bring your credit account balance to zero.
Using the same example: You receive a $100 refund while holding a $50 credit account balance. That transaction shows up as a $100 refund to your credit account from Ticketmaster, bringing your credit account balance to -$50.
If no new spend settles before 4:55pm PST, we’ll credit your cash account $50 at that time through a Disbursement Reversal.
If, for example, while your credit account is at -$50 and you make a $20 purchase that settles before 4:55pm PST, that spend will bring the credit account balance to -$30. Then, at 4:55pm PST, we will do a $30 Disbursement Reversal increasing the balance on your cash checking account.
Why we've made this change
The primary benefit of this update is simplicity. Your statements will now show refunds as single transaction rather than multiple confusing entries that are difficult to reconcile. This change helps you see cleaner, more straightforward statements and help you track your refunds more easily.