Refund and Cancellation Policy

This policy sets out how a refund is issued to your customer through RapidCents, what it costs, when the money reaches the cardholder, and what happens when your account cannot fund it. It then sets out how you close a RapidCents account and what is returned to you when you do. RapidCents charges no cancellation fee and no early termination fee; clause 10 states that without qualification. Everything here restates the RapidCents Services Agreement and cites the clause it comes from, so that a rule can be read in the operative text. Where this policy and the Agreement differ, the Agreement governs.

Part one — Refunds to your customers

1. What this policy covers, and how it fits the Services Agreement

This page explains refunds and account closure in one place. It does not change your contract. If this page and the Services Agreement ever disagree, the Agreement wins.

This policy covers two things that merchants often deal with at the same moment: returning money to a Customer who paid you through RapidCents, and ending your own relationship with RapidCents. The first is a Transaction. The second is a contract. They are set out together because a merchant closing an account usually still has refunds and disputes in flight, and because the rules governing each are held in different parts of the Services Agreement.

This policy is a restatement, not a new set of terms. Every rule below is a rule of the RapidCents Services Agreement, and each is cited to the clause it comes from so that you can read the operative text. Where this policy and the Services Agreement differ, the Services Agreement governs. Nothing here creates a right, an obligation or a charge that the Agreement does not already create.

What this policy does not do is set a refund policy for your business. Clause A.8 of the Services Agreement is explicit that RapidCents maintains no separate, overarching return policy for the goods and services you sell, because the responsibility for establishing and managing one rests solely with you. Clause 2 below sets out what the Agreement requires your policy to say and to do.

This policy applies to every RapidCents merchant account, in Canada and in the United States. Where a rule comes from Canadian law or from a Canadian industry code, it is identified as such. Where a rule comes from the card networks, it applies wherever those networks’ rules apply. RapidCents operates in both countries, and clause G.2 leaves it to you to determine what each place in which you sell requires of you.

2. Your refund policy is yours to write, display and honour

You need a refund policy, your customers have to see it before they pay, and you have to stick to the version they saw. If you have no policy, or you cannot show that they saw it, RapidCents treats that sale as though you had promised a full refund.

Clause G.3 of the Services Agreement requires you to establish, maintain and honour a refund, cancellation, return, exchange and adjustment policy covering everything you sell through the Services. Clause A.8 explains why the obligation sits with you: RapidCents has no policy of its own for your goods and services, so yours is the only one there is.

Clause G.2 requires that policy to be displayed to the Customer before the Customer authorizes the Transaction, in the same place the Customer completes the purchase, and in a form the Customer can read and retain. A policy that exists only in a terms-of-service document, in a footer, behind a hyperlink the Customer is not required to open, or in a message sent after the sale does not satisfy that clause.

Clause G.3 also fixes what the policy has to say. At a minimum, it must state:

• The period within which a refund, cancellation, return or exchange may be requested.
• How the request is made.
• Every condition attached to it, such as original packaging, proof of purchase or a return authorization.
• Every category of item that is final sale or non-refundable.
• Who pays return shipping, and any restocking amount.
• The method and timing of the refund.

You must honour the policy as it was displayed. Clause G.3 permits you to change it for future sales but not for a Transaction already completed: the policy that governs a Transaction is the one displayed to the Customer at the time that Transaction was authorized, and applying a changed policy to an earlier sale is a breach of the Agreement.

If you have no policy, or you cannot produce the record clause G.2 requires showing that the policy was displayed to the Customer before the Customer authorized the Transaction, then clause G.3 treats you as having offered that Customer a full refund. RapidCents may act on that basis — including by issuing or funding the Refund out of your settlement funds, your Payout Account or a Reserve — and may recover the amount and its actual costs by the means set out in clause F.9.

Nothing in your policy removes a right a Customer has under applicable consumer protection law, in Canada or in the United States. Clause G.3 says so expressly: a policy that purports to remove or reduce such a right does not do so.

3. How a refund is issued, and where the money goes

Issue refunds from the Dashboard or the API, back to the card the customer paid with. Not cash, not a cheque, not a different card. If the sale is still in an open batch you can void it instead, which is cleaner for everyone.

Clause C.5 of the Services Agreement provides that you may initiate a Refund for a prior Transaction through the RapidCents Dashboard or the API, provided sufficient funds are available in your RapidCents Account balance. A Refund may be issued for the whole of a Transaction or for part of it, against that original Transaction.

A Refund must be processed back to the original Payment Method used for the Transaction. Clause C.5 states the rule, and clause G.7(g) states the prohibition that follows from it: where the original Transaction was processed through the Services, you must not give a cash refund, a cheque, a store credit in place of a Refund, or a refund to a Payment Method other than the one used for the original Transaction, except where the Network Rules expressly permit it. That prohibition exists in the Network Rules before it exists in the Agreement, which is why RapidCents cannot waive it for you.

A Refund is not the only correction available. Where a Transaction has not yet settled it can be voided instead, which releases the authorization rather than moving money back in the opposite direction. A void is available only while the Transaction remains in an open batch, and batches close nightly; after that, the correction is a Refund. Clause 8 sets a void, a Refund and a Chargeback side by side.

Refund permissions are a control rather than a formality. The merchant dashboard, the virtual terminal and integrated point-of-sale each allow refunds and voids to be restricted by staff role, and each refund and void is written to an audit log with the user that performed it. Clause B.1.2 makes you fully responsible for all activity under your account, so deciding who holds the refund permission is a decision worth making deliberately rather than by default.

Refund handling is documented at https://help.rapidcents.com/refunds, to which clause A.8 refers. That documentation describes how the platform behaves; this policy describes what the Agreement requires. Where the two appear to differ, the Agreement governs.

4. When the money reaches the cardholder

Once you submit a refund, the date it lands on your customer’s statement is their bank’s decision, not ours. Give them the date you submitted it and the reference. Do not promise a date you do not control.

Clause A.8 provides that a Refund is processed in the same way as a Sale or Purchase Transaction. It travels the same route: submitted by you, presented through the Acquirer identified in clause A.2, and delivered to the Customer’s issuing bank.

Where it stops being RapidCents’ to control is at that issuer. The date on which a credit appears on a cardholder’s statement, and the form in which it appears, are determined by the Customer’s issuing bank. RapidCents does not set that date, cannot expedite it and does not commit to one, and neither does the Services Agreement, which fixes no period within which a credit must appear. A merchant who tells a Customer that a refund will appear on a particular day is making a promise about another organization’s system.

What you can give a Customer is the fact rather than the forecast. The date you submitted the Refund, its amount and the Transaction it relates to are recorded in your RapidCents Dashboard, which clause A.10 requires RapidCents to make available and requires you to review. That record is what a Customer’s own bank needs in order to trace a credit, and handing it over is usually what turns a complaint into an enquiry.

Clause G.3 requires your own policy to state the method and timing of a refund and requires you to honour what you displayed. State a timing you can meet on your own side — how quickly you will submit the Refund once a request is approved — rather than a timing that depends on an issuer you have no relationship with.

If a Refund you submitted does not appear on your statement, or a payout you expected does not reach your Payout Account, clause H.5 sets the deadlines. You have sixty days from the date a statement is made available in your Dashboard to object in writing to anything on it, identifying the entry, the amount and the basis of the objection; after that the statement is conclusively treated as accepted. You have thirty days from the date a payout was scheduled under clause C.6.2 to report that it never arrived; after that, the claim on that payout is waived.

5. Fees, interchange and assessments on a refund

A refund is a transaction, and it is priced like one. Refunding a sale does not automatically hand back what the sale cost you: interchange and network assessments are the card networks’ to set, and what comes back on a credit is their rule, not ours. Your statement shows what was actually charged.

A Refund has a cost of its own. Clause A.8 provides that Refunds are processed similarly to Sale or Purchase transactions, subject to applicable processing Fees and the Network Rules, and clause C.5 provides that all Refunds are subject to standard Transaction processing Fees unless the Fee Schedule specifies otherwise. A Refund is a Transaction, not a cost-free reversal of one.

Interchange and network assessments are not RapidCents’ to set. Interchange is set by the card networks — Visa, Mastercard, American Express, Discover, Diners Club and Interac, defined together in the Services Agreement as the Associations — and so are the assessments each of them levies. Clause C.3 records that the Associations may amend their Network Rules at any time without notice to you. RapidCents prices your acceptance on top of those costs, in the Fee Disclosure Box at clause A.11 and in the Fee Schedule that applies to your account.

It follows that what happens to the interchange and the assessments charged on an original sale, when that sale is refunded, is determined by the Associations’ rules in force at the time and not by RapidCents. Where a network returns some or all of that cost on a credit, whether any part of the reduction reaches you depends on the pricing structure of the Fee Schedule applicable to your account, and this policy does not state that it does. Where a network does not return it, it is not returned. RapidCents has no power to vary that outcome in either direction, and this policy does not represent that any particular network does one or the other.

What RapidCents can tell you is what was actually charged. The Fees applied to a Refund on your account appear on the statement that clause A.10 requires RapidCents to make available in your Dashboard. RapidCents does not publish a separate refund rate in the Fee Disclosure Box; the Fees applied to a Refund are those of the Fee Schedule applicable to your account, and RapidCents Support will confirm the treatment for a particular card type or Transaction type on request, at [email protected] or +1 (844) 957-2743.

Currency behaves differently on a refund than on a sale. Under clause C.6.4, where you use Multi-Currency Processing, the conversion rate is determined by RapidCents or its partners at the time of the Transaction or of the Refund — which is to say that the rate applied to a credit is the rate on the day of the credit, not the rate on the day of the sale. A Currency Conversion Fee is disclosed in the Fee Disclosure Box at clause A.11. A refund of a converted sale may therefore not return exactly the amount the Customer originally paid in their own currency, and that difference is a movement in the rate rather than a deduction taken by RapidCents.

If a Fee applied to a Refund is not what you expected, clause H.5 gives you sixty days from the date the statement is made available to object in writing. Separately, clause A.3 gives you a right to terminate the Agreement without penalty where there is a demonstrable failure by RapidCents to pass through cost reductions realized from card brand interchange adjustments applicable to your account. Clause 9 explains how that right is exercised, and clause 10 confirms that exercising it costs nothing.

6. Refund limits, windows, and a card that can no longer take a credit

Refund against the original sale, to the original card, within the window the card networks allow. If the card is closed or gone, do not improvise — call Support. Substituting cash or another card is prohibited unless the network rules expressly permit it.

A Refund is issued against a specific original Transaction, in whole or in part. The Services Agreement does not fix a maximum period within which a credit may be returned to the original card, and RapidCents does not publish one: that period is set by the Network Rules and by the Customer’s issuer, and it differs by network and by Transaction type.

Whether a Refund may exceed the amount of the original Transaction, and whether a credit may be issued where no original Transaction exists, depend on the Network Rules and on what your own account is configured to permit. RapidCents publishes neither as a general rule, and this policy does not state one. Ask RapidCents Support what applies to your account before you rely on it, and where a capability has not been confirmed to you, treat it as unavailable rather than assuming it.

Where the original Payment Method can no longer receive a credit — the card has expired, been reissued, been closed, or been reported lost or stolen — the rule in clause G.7(g) does not relax. You must not substitute cash, a cheque, a store credit or a different Payment Method except where the Network Rules expressly permit it. Whether a credit presented on a card that has since been replaced reaches the account behind it is a matter for the issuer and the Network Rules, not for RapidCents. Contact RapidCents Support before taking any other step, and record what you were told.

Deposits, prepayments and anything not supplied immediately carry their own rule. Under clause G.8, if you cannot deliver or perform within the period you disclosed and the Customer does not agree to a new date, you must issue a Refund to the original Payment Method promptly and without requiring the Customer to take any step beyond asking for it. Where a delivery or performance date changes materially, the same clause requires you to tell the Customer without delay and to give the Customer the choice of accepting the new date or cancelling for a full Refund.

Recurring charges are governed by clause G.4 rather than by your returns policy alone. A cancellation takes effect no later than the end of the then-current billing period, and you must not charge the Customer under the Recurring Mandate after it takes effect. Where RapidCents receives an instruction from a Customer, an issuer, the Acquirer or an Association to stop charges under a mandate, or where the Payment Method is reported lost, stolen, closed or subject to a stop instruction, RapidCents may decline or reverse further charges under it, and you must not re-present, re-enrol or re-establish that mandate without fresh consent.

One route is closed to you entirely. Clause G.7(f) prohibits submitting a new Transaction for a sale that has already been charged back, and prohibits any other attempt to recover a charged-back amount by charging the Customer’s Payment Method again, whether under the same description or a different one. Where the Network Rules allow a Chargeback to be contested, the dispute process at clause C.4 is the only route available to you.

7. When your account does not hold enough to fund a refund

A refund is money leaving your account. If the balance is not there, RapidCents can take it from your payout account or your reserve, and unpaid amounts run interest at 2.5% a month. The way to avoid that is to keep enough in the payout account to cover what you are likely to refund.

A Refund is funded by you, not by RapidCents. Clause C.5 conditions your ability to initiate a Refund on sufficient funds being available in your RapidCents Account balance, and states plainly that RapidCents is not responsible for funding Refunds if that balance is insufficient. In that case, the funds may be debited from your Payout Account or your Reserve.

That is not an exceptional power reserved for trouble. Clause C.6.1 authorizes RapidCents to make debit entries to your Payout Account to recover amounts owed to it, Refunds among them. Clause C.6.5 requires you to maintain sufficient funds in the Payout Account at all times so that Fees, Chargeback amounts, Refunds and Reserve requirements are covered, permits RapidCents to set a minimum balance requirement based on your transaction volume and risk profile, and authorizes RapidCents to make deposits to or withdrawals from that account at any time without notice.

Where an amount is not recovered that way, clause F.9 applies. RapidCents holds a continuing first-priority security interest — a movable hypothec in Québec — over all funds processed through or deposited into every Payout Account and other deposit account associated with your RapidCents Account, and over the proceeds of those funds. It may set off, recoup or debit any amount you owe against settlement funds otherwise payable to you, against any balance in a Payout Account, Reserve or other account of yours it or its affiliates hold, and against any other amount it or its affiliates owe you, in any currency and without notice or demand. An amount not paid when due accrues interest daily at 2.5% per month — 30% per annum, calculated on a simple basis — or the maximum rate permitted by law if that is lower, and you are liable for the reasonable costs of collection, including lawyers’ fees and court costs.

A pattern of Refunds an account cannot fund is a risk signal and not only a shortfall. Clause C.6.3 lets RapidCents change your Payout Schedule, suspend payouts or withhold funds where there are pending, anticipated or excessive Chargebacks, Disputes or Refunds. Clause C.7 lets it require a Reserve. Clause B.5(f) makes return rates that exceed thresholds established by RapidCents, the Acquirer or the Associations a ground for suspension. Funds withheld under clause C.6.3 and funds held in Reserve under clause C.7 bear no interest payable to you.

The practical consequence is worth stating plainly, because it is the one that catches merchants out. A refund you cannot fund does not simply wait for you. A Customer who cannot get a refund goes to their bank, and what arrives instead is a Chargeback, which costs more and counts against you. Clause 8 sets out why.

8. Refund or chargeback — and why the refund is the one to reach for

A refund is your decision. A chargeback is your customer’s bank’s decision, it carries a CA$25 dispute fee that only comes back if you win, and it counts toward thresholds that can put your account on a reserve or close it. Refund early: it is cheaper on every measure the agreement recognises.

A Chargeback, defined at clause C.4, is a reversal of a prior Transaction initiated by the Customer’s issuing bank, typically at the Customer’s request, according to the Association Rules. What separates it from a Refund is not the amount of money that goes back to the Customer. It is who decides, what it costs, and what it leaves behind.

Who decides. A Refund is yours: you issue it, for the amount you choose, on the timetable your own policy states. A Chargeback is the issuer’s. Clause C.4 gives you a limited timeframe, dictated by the Network Rules, to respond with compelling evidence; provides that RapidCents may assist in facilitating the dispute process but does not guarantee the outcome; and provides that if the Chargeback is upheld, or if you fail to respond adequately within the required timeframe, the Chargeback amount plus the Dispute Fee is debited from your RapidCents Account balance, your Payout Account or your Reserve.

What it costs. The Dispute Fee disclosed in the Fee Disclosure Box at clause A.11 is CA$25.00. The same disclosure records that a disputed payment incurs the fee and that the fee is refunded in full if the Customer’s bank resolves the dispute in your favour — which means it is charged whether or not you eventually win, and returned only if you do. A Refund carries the standard processing Fees described in clause 5 above and no Dispute Fee.

What it leaves behind. Chargebacks are counted. Under clause H.6 you are in excess of threshold in respect of a calendar month if, in that month, Chargebacks equal or exceed nine tenths of one percent (0.9%) of the number of your Transactions, or one percent (1%) of their value, or you incur one hundred (100) or more Chargebacks, or you exceed any lower or different threshold set for you, for your merchant category or for your industry by an Association, by the Acquirer or by RapidCents and communicated to you. Being under threshold is not a safe harbour: the same clause permits RapidCents to act where your Chargeback, refund, retrieval, fraud or complaint activity is rising toward one.

What follows an excess is set out in the same clause and is not trivial. RapidCents may require a written remediation plan and require you to implement it; require, increase or extend a Reserve under clause C.7; change your Payout Schedule or hold payouts under clause C.6.3; require you to enrol, at your cost, in a chargeback alert, dispute-deflection or representment service it identifies; limit your Transaction volume, your average or maximum ticket size, or the Payment Methods available to you; and suspend your account under clause B.5 or terminate the Agreement under clause F.1.3.

Where an Association or the Acquirer places you in a monitoring or excessive-chargeback programme, or assesses a Fine, an issuer recovery, a programme fee, a review cost or a per-Chargeback charge against RapidCents or the Acquirer in respect of your account, you pay the amount actually assessed together with the reasonable out-of-pocket costs RapidCents actually incurs in responding to it, and RapidCents will on request give you the particulars it is permitted to disclose. Clause H.6 states expressly that an amount payable under it is the amount actually levied on or incurred by RapidCents and no more, and that nothing in it is a fee for terminating the Agreement or a penalty for closing an account.

A Refund does none of that. It returns the money and removes the Customer’s reason for calling their bank, and it carries no Dispute Fee and creates no Chargeback. It is not invisible: refund and return activity is monitored in its own right, under clause H.6 and clause B.5(f), as clause 7 above sets out. What a Refund does not do is count toward the Chargeback thresholds at clause H.6.

Two practical points close this clause. First, where a Chargeback has already been initiated on a Transaction, contact RapidCents Support before issuing a Refund on the same Transaction: a Refund does not withdraw a Chargeback, and issuing both can leave the Customer credited twice and you debited twice for a single sale. Second, clause G.7(f) forecloses the obvious workaround — a charged-back sale may not be re-presented as a new Transaction. The dispute process at clause C.4 is the route, and it is the only one.

A void, a Refund and a Chargeback compared

	Void	Refund	Chargeback
Who starts it	You	You	The Customer, through their issuing bank
When it is available	While the Transaction is still in an open batch; batches close nightly	After the Transaction has settled, within the period the Network Rules allow	Within the period the Network Rules give the Customer
Who decides the outcome	You	You	The Customer’s issuing bank (clause C.4)
Amount	The whole Transaction	All or part of the original Transaction	The amount the issuer reverses, plus the Dispute Fee
Where the money goes	Nowhere — the authorization is released	Back to the original Payment Method, and nowhere else (clauses C.5 and G.7(g))	To the Customer, debited from your balance, Payout Account or Reserve
What it costs you	No fee for it is disclosed in the Fee Disclosure Box	Standard Transaction processing Fees, unless the Fee Schedule specifies otherwise (clause C.5)	The Transaction amount plus a CA$25.00 Dispute Fee, refunded in full only if the dispute is resolved in your favour (clause A.11)
What it leaves behind	Nothing	Not a Chargeback, though refund activity is monitored under clause H.6	Counts toward the thresholds at clause H.6, and can lead to a Reserve, held payouts, remediation, suspension or termination
Can it be re-presented	Not applicable	Not applicable	No. Clause G.7(f) prohibits charging the Customer again; clause C.4 is the only route

A void and a Refund are yours to decide. A Chargeback is not. Where a Chargeback has already been initiated on a Transaction, contact RapidCents Support before issuing a Refund on that same Transaction.

Part two — Cancelling your RapidCents account

9. Cancelling your RapidCents account

You can close your account at any time, for any reason. Send written notice, ask for the account closure form and return it signed, and keep your payout account open until the last money has moved. Closing costs you nothing.

Clause F.1.2 of the Services Agreement gives you the right to terminate at any time by providing written notice to RapidCents and closing your RapidCents Account. It is not conditioned on a reason, on a point in the term, or on RapidCents’ agreement.

The term itself is set by clause F.1.1: an initial term of four years from the date you accepted the Agreement, renewing automatically for successive one-year periods unless either party gives written notice of non-renewal at least thirty days before the end of the then-current term. That mechanic governs when the Agreement lapses of its own accord. It does not restrict the right at clause F.1.2 to terminate at any time, which is the clause a merchant closing mid-term relies on.

How to give notice. Clause F.3 provides that notices to RapidCents must be in writing and sent either by email to [email protected] or by mail, return receipt requested, to RapidCents Inc., Attention: Legal Department, 515 Consumers Road, Unit 210, North York, Ontario, M2J 4Z2. Clause A.3 — the separate cancellation right described in the next paragraph — adds that a formal account closure form provided by RapidCents must be completed, signed and returned to finalize a termination exercised under that clause, and that RapidCents Support can be reached at [email protected] or +1 (844) 957-2743. Clause F.1.2 requires written notice and the closing of your RapidCents Account, and imposes no form of its own. Ask for the closure form when you give notice in either case, and keep a copy of what you sent and the date you sent it.

A separate cancellation right applies when RapidCents changes the deal. Under clause A.3 you may terminate without penalty where RapidCents introduces a new fee not previously disclosed in the Fee Schedule; increases an existing fee otherwise than in accordance with a pre-determined fee schedule explicitly referenced in the Agreement or the Fee Schedule; demonstrably fails to pass through cost reductions realized from card brand interchange adjustments applicable to your account; unilaterally imposes a material adverse change to the terms of the Agreement; or adds material terms not previously negotiated and agreed by both parties. Written notice must be given within ninety days of receiving notification of the change.

In Canada, that right sits alongside the Code of Conduct for the Credit and Debit Card Industry in Canada, which clause A.9 records RapidCents as adhering to and which is published on the website of the Financial Consumer Agency of Canada. The Code addresses credit and debit card acceptance in Canada. The right at clause A.3 is a contractual right and applies to your Agreement wherever your account is held.

Before you give notice, five things are worth doing, in this order:

• Cancel every Recurring Mandate running through the account, and tell the Customers on them. Clause G.4 requires a cancellation to take effect no later than the end of the then-current billing period and prohibits charging under the mandate after it does.
• Issue any Refunds you already owe under your own policy while the account still holds a balance to fund them. Clause C.5 and clause 7 above explain what happens when it does not.
• Download the records you are required to keep — the Transaction and receipt records under clause G.6, the fulfilment records under clause G.8, the consent records under clause G.4 and your statements under clause A.10. Chargebacks can arrive after an account closes, and evidence you cannot produce is evidence you do not have.
• Keep your Payout Account open. Clause C.6.1 is the route by which settled funds and a released Reserve reach you, and clause C.6.5 requires the account to be maintained throughout the term.
• Read clause 11 below before assuming that the last payout is the last of it.

RapidCents can also end the Agreement. Clause F.1.3 permits it to terminate at any time on written notice, and to suspend or terminate your access immediately and without notice on the grounds it lists: breach of the Agreement or of another agreement with RapidCents; reasonable suspicion of fraudulent, illegal or unauthorized use; a requirement of law, regulation, court order or a regulatory authority; a determination that your use poses an unacceptable level of risk; false, incomplete, inaccurate or misleading information; failure to cooperate in an investigation or to provide requested information; Chargeback, return or complaint levels above the thresholds established by RapidCents, the Acquirer or the Associations; or a determination that continued provision of the Services would expose RapidCents, the Acquirer or the Associations to unacceptable risk or liability. Clause B.5 carries the parallel suspension power. The consequences set out in clauses 10 to 13 below are the same however the Agreement comes to an end.

What closing a RapidCents account does, and does not, do

Item	What happens	Where it is set out
Cancellation or early termination fee	None. Closing an account costs nothing, at any point in the term.	Clauses A.4 and F.1.2 — see clause 10 below
Settled funds not yet paid out	Paid out, subject to any hold applied to cover trailing liability, with notice of the general reason and, where possible, an estimated release timeline.	Clauses F.1.4(c) and C.6.3
A Reserve	May be held for a reasonable period — typically 180 days or longer — and longer while a related investigation remains open. No interest is payable to you.	Clause C.7
Chargebacks and Refunds arising later	Still yours. Termination does not extinguish liability for Transactions already processed.	Clauses A.5 and F.1.4(d)
Amounts you already owe	Still payable, recoverable by set-off against funds and accounts, with interest at 2.5% per month on overdue amounts.	Clause F.9
Software, API and dashboard licences	End immediately.	Clauses A.7 and F.1.4(a)–(b)
Hardware RapidCents owns	Returned within thirty days, at your cost and at your risk until received.	Clause G.10 — see clause 12 below
Hardware you purchased outright	Stays yours, but no longer functions with the Services.	Clause G.10
Your name and logo in RapidCents marketing	May continue in use for two years, unless you revoke the authorization in writing.	Clause D.3.3
Customer Data held by RapidCents	Returned or deleted, except where retention is required by law.	Clause D.1.3(f)
Your own Transaction, consent and fulfilment records	Yours to keep, for the period the Network Rules and applicable law require, and to produce on request.	Clauses G.2, G.4, G.6, G.8 and F.7

Nothing in this table is a charge for leaving. The amounts that can be recovered after an account closes are amounts you already owed and amounts RapidCents has actually incurred.

10. No cancellation fee and no early termination fee

It costs nothing to leave. No cancellation fee, no early termination fee, no penalty, no remaining term to buy out. Not at any point in the four-year term, not on a renewal, not for any reason.

RapidCents charges no cancellation fee and no early termination fee.

Clause A.4 of the Services Agreement states it as policy: RapidCents does not charge any early termination fees, nor does it impose penalties of any kind for cancellation, and merchants are free to close their accounts at any time, for any reason. Clause F.1.2 states it as a term of the contract: RapidCents does not charge an early termination fee and does not impose any penalty for closing an account before the end of the Initial Term or of a Renewal Term.

There is no exception to this. There is no threshold of volume, tenure or notice below which a charge applies, no liquidated sum payable on early closure, no buy-out of a remaining term, and no circumstance in which the act of closing an account itself triggers a fee. No clause of the Services Agreement imposes one, and several say so in terms: clauses G.1, G.5, G.7, G.10 and H.6 each limit what RapidCents may recover under them to an amount it has actually incurred or become liable to pay and state that they impose no penalty, and clauses G.1, G.7, G.8, G.10 and H.6 each state expressly that they impose no charge for terminating the Agreement or closing an account.

If you have been shown a document, a quotation or a communication referring to a cancellation fee, an early termination fee or a termination penalty of any amount, it does not reflect this policy or the Services Agreement. Raise it with RapidCents Support at [email protected] or +1 (844) 957-2743, or through the complaint procedure at clause A.6, and it will be corrected.

What can be charged after an account closes is a different question, and the answer to it is narrow. You remain liable for what you already owed and for what arises from Transactions already processed — clause A.5 and clause F.1.4(d) — and RapidCents may recover amounts it has actually incurred, such as the hardware amounts at clause G.10 and the network amounts at clause H.6. Those are debts and pass-throughs. None of them is triggered by the act of leaving, and none of them is an exit charge.

11. Your funds, your reserve and your final payouts

Closing the account does not release the money instantly. RapidCents can hold funds, or keep a reserve, to cover refunds and chargebacks that arrive after you leave — typically 180 days or longer, and longer while an investigation is open. Held funds earn you nothing.

Termination does not settle the account on the day it takes effect, because the liabilities the account carries do not end on that day. Clause A.5 provides that termination, regardless of the reason or the timing, does not extinguish or alter your liability for Transactions processed before the effective date of termination — including Chargebacks, Refunds, Fees, Fines and any other amount owed — and clause F.1.4(d) says the same of Chargebacks and Refunds that arise after termination.

So RapidCents may hold. Clause F.1.4(c) permits it to withhold funds in your RapidCents Account or to establish a Reserve for a reasonable period, to cover potential Chargebacks, Refunds, Fees, Fines or other liabilities. Clause C.6.3 lists termination of the Agreement among the grounds for withholding, expressly in order to cover potential trailing liabilities, and requires RapidCents, where payouts are suspended or withheld, to provide notice outlining the general reason and, where possible, an estimated timeline for the release of funds.

Clause C.7 governs the Reserve itself. On termination, RapidCents may continue to hold Reserve funds for a reasonable period — typically 180 days or longer, depending on the risk profile and the potential for trailing liabilities such as Chargebacks — and may continue to hold them until any related investigation, including an Association or law-enforcement inquiry, is fully resolved to its satisfaction. A Reserve may be funded by deductions from incoming settlements, direct debits from the Payout Account, holding a percentage of daily transaction volume, or a direct deposit from you.

Funds held in either way bear no interest payable to you. Clause C.6.3 states it for withheld and suspended funds and records your express waiver of any claim to interest or earnings on them, and clause C.7 states it for funds held in Reserve.

None of this is a charge for leaving. A Reserve is security for the performance of your obligations under the Agreement — clause C.7 says so in terms, and clause G.8 adds, of a Reserve required under it, that a Reserve is not a Fee, a penalty or a charge for terminating the Agreement or closing an account — and a hold defers your own money rather than deducting from it. What is deducted from held funds is what clause 10 describes: amounts you owe, and amounts RapidCents has actually incurred.

The statement and payout deadlines keep running while funds are held. The sixty-day and thirty-day windows at clause H.5, set out at clause 4 above, apply to statements and payouts issued after your account closes exactly as they do to those issued before — which is a reason to keep reading your statements once the account is shut.

12. Terminals and other hardware

A terminal we lent or leased you comes back within thirty days, at your cost. A terminal you bought stays yours but stops working with RapidCents. If you want to know whether a terminal you bought can be returned for a refund, the answer is in the order you signed for it, not here.

The Services Agreement treats hardware in two distinct ways, and which one applies to a device is a matter of how that device was supplied rather than of what it is.

Hardware RapidCents owns. Clause G.10 provides that Hardware supplied on loan, rental, lease or subscription remains the property of RapidCents or of its supplier at all times, and that you receive possession only. Within thirty days after the Agreement ends, you must return every item of that Hardware, together with its power supply, cables, docks and any other accessory supplied with it, using the return method RapidCents specifies. You bear the cost of return and the risk of loss or damage until RapidCents receives it, and the device must not be wiped, re-keyed or reset other than as RapidCents instructs, so that RapidCents can verify it has not been tampered with.

If that Hardware is not returned within the period, or is returned damaged beyond fair wear and tear, opened, altered or with its tamper-evident markings broken, clause G.10 makes you responsible for what RapidCents actually incurs as a result: the replacement or repair cost of the item, the cost of decommissioning a device that can no longer be certified, and any Fine actually levied on RapidCents or on the Acquirer because a device could not be accounted for. RapidCents will provide particulars on request and may recover those amounts by the means set out in clause F.9. The same clause states expressly that none of this is a fee for terminating the Agreement or a penalty for closing an account, that it creates neither, and that it recovers only what RapidCents has actually incurred.

Hardware you purchased. Title to purchased Hardware passes to you on payment in full of the purchase price and all applicable taxes; until then it remains the property of RapidCents. It stays yours when the Agreement ends — but it will no longer function with the Services, and you may not use it to process Transactions through another provider unless that provider and the Associations permit it. RapidCents may require you to allow the removal of its encryption keys and configuration from a device you own before you dispose of it, and you must not sell or transfer a device that still holds them. The software and firmware embedded in or supplied with any Hardware are licensed under clause A.7 and are not sold to you, whether or not the device itself was purchased; that licence ends when the Agreement ends.

Returning a purchased terminal for a refund is a different question from returning Hardware that belongs to RapidCents, and this policy does not answer it. RapidCents publishes that terminal hardware is priced separately from processing and that devices are available for purchase or for lease. It does not publish a return window or a refund period for a device you bought, and this policy does not invent one: the terms on which a purchased terminal may be returned or refunded are the terms of the hardware order, quotation or lease you signed for it. Ask your RapidCents advisor or RapidCents Support for a copy of those terms rather than assuming a period applies.

Until the Agreement ends, clause B.7 continues to apply to every device RapidCents supplied or leased. You must safeguard it; report loss, theft, tampering or suspected compromise both by telephone at +1 (844) 957-2743 and in writing to [email protected], in each case no later than twenty-four hours from the incident or from the time you reasonably should have discovered it; and maintain, at your own expense, commercial property insurance covering the Hardware for its full replacement value. Until RapidCents has received both the telephone report and the written notice, you remain fully liable for every Transaction — authorized or unauthorized — processed through the missing or compromised device, and for any Chargebacks, Refunds, Fines or other losses that follow.

13. What else ends, what survives, and how to get something reviewed

Your licences end the day the account does. Your liabilities, any personal guarantee you gave, and RapidCents’ right to use your name in marketing do not. If something looks wrong, there is a complaint route with named steps and deadlines — use it.

What ends. Clause F.1.4 provides that on termination you must immediately cease using the Services and the RapidCents Software, and that all licences granted to you under the Agreement terminate immediately. Clause A.7 says the same of the payment software licence: termination revokes it, while leaving intact the provisions that by their nature survive.

What survives. Clause F.1.4(e) preserves every provision that by its nature should survive termination, including ownership provisions, warranty disclaimers, indemnification obligations, limitations of liability and dispute resolution provisions. Clause A.5 preserves your liability for Transactions already processed. Clause F.9 preserves the security interest, the right of set-off and the interest running on overdue amounts. Where a personal guarantee was given under clause F.11, it is a continuing guarantee that remains in full force until all Guaranteed Obligations are paid in full, and closing the account does not discharge it.

Your name and your imagery. Under clause D.3.3, the authorization you gave RapidCents to use your company name, logo, photographs of your premises and of company owners, and other business-related imagery for testimonials, reviews, case studies and other marketing purposes remains in effect during the term of the Agreement and for two years following termination, unless you expressly revoke it in writing. If you want that use to end when the account does, send the revocation in writing by the notice route at clause F.3, at the same time as your closure notice.

Your data. Clause D.1.3(f) provides that on termination of the Services RapidCents will return or delete Customer Data in accordance with the Agreement, except where retention is required by law. What RapidCents holds, why and for how long is set out in the RapidCents Privacy Policy, which clause D.1.4 incorporates into the Agreement, and the RapidCents Security Statement records that cardholder data is retained for up to twenty-four months of inactivity. Your own retention duties do not end with the account: the records that clauses G.2, G.4, G.6 and G.8 require you to create and keep must be kept for the period the Network Rules and applicable law require, and produced to RapidCents on request under clause F.7.

Getting something reviewed. Clause A.6 sets out a complaint procedure with named steps. Start with the RapidCents Support Team — a detailed ticket at help.rapidcents.com with “Complaint” in the subject line, an email to [email protected] with the same subject line, or a call to +1 (844) 957-2743. If the complaint is not resolved or formally closed by Support within fourteen business days of submission, escalate by email to the RapidCents Executive Office at [email protected], attaching the earlier correspondence and any supporting documentation. If a further five business days pass without a substantive response or resolution, clause A.6 provides a final escalation by text message to +1 (437) 443-1263, quoting your Merchant ID, your registered business name and the best number for a callback.

The deadlines that matter. Sixty days to object in writing to a statement, and thirty days to report a payout that did not arrive, both under clause H.5. Ninety days to exercise the cancellation right at clause A.3 after being notified of a fee change or a material change to the terms. The window for responding to a Chargeback is shorter than any of these, and it is fixed by the Network Rules rather than by RapidCents — clause C.4.

Where a matter cannot be resolved that way, clause E.7 governs: the Agreement is governed by the laws of the Province of Ontario and the federal laws of Canada applicable there, and any dispute arising out of or relating to it is determined by arbitration in Toronto, Ontario, before one arbitrator, administered by the ADR Institute of Canada under its applicable Rules, with either party free to seek provisional remedies in aid of arbitration from a court of appropriate jurisdiction. Nothing in this policy limits a right you or your Customer holds under applicable consumer protection law in Canada or in the United States, or under any other law that cannot be limited by agreement.