insurance refund for error

edited 30 November -1 at 1:00AM in Credit Cards
5 replies 609 views
MarcoMMarcoM Forumite
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edited 30 November -1 at 1:00AM in Credit Cards
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

Replies

  • jay87jay87 Forumite
    152 Posts
    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
    _________________________________________
    @ 08/13 total was £8,008.28-
    Pay off £1500 by end 2013 Challenge = £220/ £1500 14.67% :D
  • MarcoMMarcoM Forumite
    577 Posts
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    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
  • gnarilgnaril Forumite
    278 Posts
    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.
  • MarcoMMarcoM Forumite
    577 Posts
    Part of the Furniture 100 Posts Combo Breaker
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    can i request that i do not get charged interest on the transaction in the mean time?
  • jonesMUFCforeverjonesMUFCforever Forumite
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    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.
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