Overview

This function allows you to process a refund for a loan payout that has already been successfully completed. Refunding a payout instruction initiates a transaction to reverse the original payment made to the client. This is a critical action and should be performed with caution.

Prerequisites: Required Permissions

To access and use this feature, the Manage Payout Instructions permission must be enabled for your user role by an administrator.

How to Initiate a Payout Refund:

1. Navigate to Client Administration.
2. Search for and highlight the desired Existing Client.
3. Click the Loans button.
4. From the list of loans, highlight the specific loan associated with the payout you wish to refund.
5. Click the Payout Instruction button.
6. From the list, highlight the specific payout instruction that needs to be refunded.
7. Click the Refund Payout Instruction button.

Confirming the Refund

After initiating the refund, a confirmation prompt will appear to prevent accidental transactions.

• To proceed with reversing the payout, click Yes.
• To exit without refunding the payout, click Cancel.

Once you confirm, the system will process the refund according to the Collection Service Provider's procedures. The status of the refund can be monitored through the Payout Instruction screen.