Refund onto credit card and DRO

bris

Hermione_Granger wrote: »

Money laundering has nothing to do with it.

Due diligance checks would have been carried out when the credit cards were applied for and provided that a refund was a crossed cheque made payable to the OP, this refu d would be as traceable as a credit card refund.

The main reasons why retailers prefer refunding back to the origina, payment card are that it usually gets their original credit card fee refunded and it's nice and quick with the payment transfer going out almost instantly.
With a cheque, someone may wait months before presenting it and if this period crosses over the tax year change, it may result inmore paperwork being required.

Money laundering has everything to do with it. It also stops them buying something on a CC and getting a refund in cash as the money was never theirs in the first place. It prevents CC fraud from people turning purchases into cash.


I had a merchant service agreement for 25 years and one of their strictest policies was always getting the refund back to source, or the retailer is not covered in case of fraud.