If a traveler needs to cancel their trip, you can set up your cancellation policy so that they'll receive a percentage of their payment back. The percentage applies to the amount that the traveler has paid at the time of the cancellation, not the total amount of the reservation.
When setting the cancellation policy for your listing, you may choose from one of five options: Relaxed, Moderate (Recommended), Firm, Strict and No Refund.
Cancellation fee amount and free cancellation time frame may vary depending on your city and country
The refund will be through credit/debit card where the user paid actually with duration of maximum 24 hrs.