Refunds

k99_64 · 08-12-2009 4:57pm #1

Say if i was getting a refund for a faulty good, can the shop I bought it off state that they can only refund it in a certain way? (ie straight into a bank account rather then cash)

Paulw · 08-12-2009 5:01pm

It's not uncommon at all.

Especially if you buy on a credit card, they will issue the refund to the credit card, rather than giving you cash.

It's also a lot safer for them to do it that way.

k99_64 · 08-12-2009 5:05pm

Paulw wrote: »

It's not uncommon at all.

Especially if you buy on a credit card, they will issue the refund to the credit card, rather than giving you cash.

It's also a lot safer for them to do it that way.

So say if i bought using a credit card and now they want to refund to bank account?

(i would like the refund to the card)

Paulw · 08-12-2009 5:06pm

k99_64 wrote: »

So say if i bought using a credit card and now they want to refund to bank account?

(i would like the refund to the card)

Can't say I've heard of that before. New to me.

k99_64 · 08-12-2009 5:10pm

Just wondering if I have to go along with the shop or can i demand them to refund in a different way...:eek:

ytpe2r5bxkn0c1 · 08-12-2009 5:12pm

Considering they could have offered a replacement, or repair just as easily, a refund in any format is a good deal. Take it to the Bank Account and pay it into the Credit Card yourself, if you so wish. Admittedly though , refund of a Credit Card payment to a bank account does seem unusual.

k99_64 · 08-12-2009 5:17pm

Maleah Flaky Crane wrote: »

Considering they could have offered a replacement, or repair just as easily, a refund in any format is a good deal. Take it to the Bank Account and pay it into the Credit Card yourself, if you so wish. Admittedly though , refund of a Credit Card payment to a bank account does seem unusual.

Well the item in question was replaced once then the replacement failed again, so a refund was then in order, im just a little unnerved about having to now hand over all my bank details.

Paulw · 08-12-2009 5:27pm

k99_64 wrote: »

im just a little unnerved about having to now hand over all my bank details.

I'm the same. I wouldn't give them my bank account details.

They should have the facility to credit back to a credit card, or give you a cash refund.

kittenkiller · 08-12-2009 6:23pm

Ask for it specifically to be returned to your card.
If they refuse, demand an explanation in writing from the billing manager of the company to cover yourself.

They won't be bothered escalating it so high and you should get your way.

The usual method if refund is to return the funds via the payment method afaik.

dudara · 08-12-2009 8:52pm

The usual method is to refund via the method of payment (credit card in this case). If they can process a credit card payment, then they should be easily able to process a refund.

I wouldn't be comfortable providing my bank account details, so if credit card is not an option, then I'd ask for cheque or cash.

k99_64 · 08-12-2009 11:28pm

dudara wrote: »

The usual method is to refund via the method of payment (credit card in this case). If they can process a credit card payment, then they should be easily able to process a refund.

I wouldn't be comfortable providing my bank account details, so if credit card is not an option, then I'd ask for cheque or cash.

They told me that refund to bank account is my only option, i asked for cheque they refused.

dudara · 08-12-2009 11:38pm

It might be worth asking the National Consumer Agency for advice on this one.

Del2005 · 09-12-2009 12:23am

k99_64 wrote: »

They told me that refund to bank account is my only option, i asked for cheque they refused.

On your bank statements it will have an IBAN and BIC if you give these to the shop they can transfer the money to your account both won't be able to acccess it. If they want you acc number and sort code take them to the SCC..

emanresu · 09-12-2009 12:51am

Del2005 wrote: »

On your bank statements it will have an IBAN and BIC if you give these to the shop they can transfer the money to your account both won't be able to acccess it. If they want you acc number and sort code take them to the SCC..

Giving the IBAN means giving the sort code and account number because
they are both included in the IBAN.
EG: If the Sort Code is: 91-23-45 and Account Number is: 67890123
then the IBAN is: IE## #### 9123 4567 8901 23

3DataModem · 09-12-2009 1:37am

Why exactly are you afraid of giving your bank details?

They can realistically do nothing fraudulent with them.

Otherwise, why would they print sort code and account number on cheques?

3DataModem · 09-12-2009 1:39am

Also their credit card processor might not allow them to process refunds outside a certain time limit, and they may not be able to credit funds to card with their merchant account. This is actually very common.

Del2005 · 09-12-2009 3:53am

emanresu wrote: »

Giving the IBAN means giving the sort code and account number because
they are both included in the IBAN.
EG: If the Sort Code is: 91-23-45 and Account Number is: 67890123
then the IBAN is: IE## #### 9123 4567 8901 23

Didn't know that as I never paid that much attenion to them to be honest. Just knew they where to make bank transfers easier and assumed that your details where hidden.

kittenkiller · 09-12-2009 10:05am

OP, do you still have access to a copy of the providers terms and conditions?
If so have a quick check to see if this practice is outlined in them.

If they are you'll just have to go along with it.
If not, then you should be able to get your preferred method.
If they're still digging heir heels in, get your letter from the billing manager or financial director.
This is an unusual practice (very dodgy if you ask me, fraud and laundering wise), and so you are entitled to a statement in writing explaining their stance on CC refunds.

AlwaysAmber · 09-12-2009 10:37am

3DataModem wrote: »

Also their credit card processor might not allow them to process refunds outside a certain time limit, and they may not be able to credit funds to card with their merchant account. This is actually very common.

That's your answer there I think.

Merchants are required by Visa/Mastercard to give refunds directly back to the card used for the purchase. However refunds can only be given within a certain time frame (max 6 months I think, but that may vary).

There is very little risk in giving your bank account details and (if the timeframe for card refunds has passed) it's probably your only option as they shouldn't refund in cash.

mcaul · 09-12-2009 4:27pm

the form of refunding may depend on how much the refund is.

In terms of accounting and tax compliance, there needs to be some sort of trail. For small refunds ina retail store a till receipt signed by the customer along with contact details is sufficient for tax compliance.

For a larger refund of say €200+ it is best dealt with almost as an invoice by the customer back to the store and a store may prefer to pay this electronically in order to keep proper records. - If the original amount was paid by credit card, they repayment back to credit card is the norm, but not necessarily when paid by laser.

k99_64 · 09-12-2009 6:06pm

Appears that there is nothing stopping them for asking for bank account details and refusing to give out a refund any other means. say the NCA

matt70iu · 25-12-2009 4:36am

k99_64 wrote: »

Say if i was getting a refund for a faulty good, can the shop I bought it off state that they can only refund it in a certain way? (ie straight into a bank account rather then cash)

Having worked in retail in the past, the retailer is entitled to refund you according to their banking practices and within a reasonable time period. Cash, card, cheque etc. As long as they DO refund you of course:)

Refunds

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