Definition of `Credit`

ellajuk

So if we were to purchase something online and the item returned to a company for a refund and they say yes return it and we will `credit` you.

Does that mean that your bank would be credited back the refund.
It now appears that the company is sitting on my money and saying I have a credit on their account to purchase something, and wont give me my money back.

This hinges on the definition of `credit` ?

sourcrates

Comes under the "sale of goods act", depends within what timeframe you return the goods, I believe for goods bought off the internet you have 14 days to return for full refund. Some companies allow you longer, after 14 days you are deemed to of accepted the goods, unless faulty, you are not automatically entitled to your money back, they can offer you a credit note, which means you can spend the credit on something else from there site, up to the value of the original goods.

ellajuk

Thanks Sourcrates sounds fair and square, but if the refund policy does not mention credit `note` neither the telephone conversation, then despite my being picky, surely people who are not quite into money jargon, would get confused and think credit in a different way.

sourcrates

Can be confusing, as some stores operate different refund policies, but as the law stands, after 14 days you are not automatically entitled to your money back, it is at the retailers discretion, I'm afraid !!