Currently, there is not a way to automatically return a reward to a guest account once the reward has been "Honored".
Once a reward is attached to a transaction and the transaction has been completed the reward will be marked as "Honored" on a guest account.
The "Return reward to guest's account if redemption is not honored or if redemption code expires?" function in Punchh will only return the reward under those two circumstances.
There is not a current function in our API to retroactively go back and refund the rewards or mark them as "not honored" at a later time even if the transaction is refunded or canceled after completion.
Note: In these circumstances, you would need to manually gift the rewards back to the guest for more information on how to perform this function click (Here)