insurance refund for error

MarcoM

Hi,

Over 400 pounds were taken in error by my insurance company from my credit card.
I requested an immediate refund but have been told that it will take a few days to reach my credit card account.
Does anyone know how many days should a refund to my card take?
Also if the refund does not appear can i pursue this via credit card company? My balance is being severely affected.

Thanks

jay87

I work for an insurance company and it usually takes 3 to 5 working days to be refunded, not sure about whether the card company can stop the transaction though x

MarcoM

jay thanks for the replay. I am hoping the insurers will keep to their word but so far i am not impressed.
So does it work like direct debit or cheque transaction?

1) day one money out of insurer account
2) day 2 money in "floating account"
3) day three to five money into recipients credit card

gnaril

Your card issuer will need to wait 30 days from the date agreed for refund before they can try pursue this on your behalf(Chargeback 4860). Most cases, as advised should be in within a week just keep an eye on it.

MarcoM

can i request that i do not get charged interest on the transaction in the mean time?

jonesMUFCforever

You can ask the insurance company to pay the interest cost on their mistake.
£400 at a rate of say 17.9% per annum would be about £6.50 interest.