Refund from credit card

Esther_2

After a refund from a supplier, my credit card balance went into credit.
I was told that they will refund my bank account and after phoning again, I was told that this would take 10 days to be refunded to my bank account! Is this fair? Particularly when the amount is a over £2,500? I was told it was their policy. I didn't ask why it took so long? Today is the nineth day, I await with baited breath to see if the refund materialises tomorrow. Has anyone got any comments? I think the phonecalls to an 0870 number, to reqest this refund has posssibly cost me in the region of £5!

Bokkens

Welcome to MSE,
This is where planning comes in to try and avoid these kind of situations although it may not always be possible.
They are delaying refunding your money because that is how they cover their costs and £2500 with 7-10 days interest is a nice little earner for any company.You may just have to grin and bare it unless you want to loose more money on legal action that you would probably loose.

Esther_2

Thanks Bokkens, I decided I would have to grin and bear it! I agree, it is one of these unfair things! I will be bombarding them with emails though, if the refund does not come through tomorrow!
I waited until the last minute to clear my statement, hoping the refund would be through. Just bad luck. It would have saved them getting their grubby little hands on some extra interest.:rolleyes:

Bokkens

Well now you are good and angry have a look at the stoozing section and Martin's articles on the credit card shuffle and get your money back with INTEREST!
Good luck

John_in_the_city

Esther,

I am assuming the credit is coming through as an electronic payment. Call your bank and ask them to check for payments from BACS for credit tomorrow. The back office will be able to see if there is anything pending posting to your account. Make sure you have exact amount so they can also do a search by amount.

Good luck

sicker

Esther, just a thought but why not try 'saynoto0870' and get a geographical number for them if available. Then sign up to 18185 and call them for about 5p. Thats the way I deal with 0870 numbers. It's not always successful but most compamies have an alternative number.

John

ad44downey

Esther wrote: »

After a refund from a supplier, my credit card balance went into credit.
I was told that they will refund my bank account and after phoning again, I was told that this would take 10 days to be refunded to my bank account! Is this fair? Particularly when the amount is a over £2,500? I was told it was their policy. I didn't ask why it took so long? Today is the nineth day, I await with baited breath to see if the refund materialises tomorrow. Has anyone got any comments? I think the phonecalls to an 0870 number, to reqest this refund has posssibly cost me in the region of £5!

You're lucky really. ALot of credit card companies won't play ball and will insist that you spend the credit balance

Esther_2

I did receive my refund on the tenth day. From what you say then, I am lucky that I received one at all!
I didn't receive the exact amount of the refund but the balance of my account, less expenditure. Consequently the ensuing statement is nil.
Thanks to all.

nomoneytoday

Bokkens wrote: »

£2500 with 7-10 days interest is a nice little earner for any company.

It's about £3-£5 . . . .