Currently, there is not a way to automatically return a reward to a guest account once the reward has been "Honored".
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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.
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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.
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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)