Merchant Credit

deniswilson1

Hi everyone first post here!

So around 3 months ago i placed a charge in an establishment. Around 2 and a half months ago i closed my credit card with no outstanding balance. Around 2 month ago i got a merchant credit for that particular establishment and got refunded back which i need to go through the staff from the bank. Now the bank is asking for me to pay it back on my closed account. It is clearly the bank's fault but can i profit out of this?

[Deleted User]

What do you mean "profit" out of this?

[Deleted User]

deniswilson1 wrote: »

It is clearly the bank's fault but can i profit out of this?

By settling any debts in a timely fashion you can avoid any fees or charges, which you could consider a small profit.

born_again

I take it English is not your 1st language? Given the wording on your query.

So you got a credit from a retailer to a closed card.

Where is there any bank fault?

People need to realise that closed accounts can be re-opened if a debit or credit come through.

Ben8282

I don't understand this.
From what I can make out:
- OP placed a charge in an 'establishment' 3 months ago
- OP closed their credit card account 2.5 months ago with nil balance
- 2 months ago OP received a credit to the closed credit card account from the 'establishment' where he had placed the charge
- OP got refunded back (by the bank staff?)
- the bank are now asking him to pay it back
Please can you clarify.

Terry_Towelling

Sorry, @deniswilson1 but I don't understand what you are asking either. Some of the individual things you say make sense and some don't, but when you put them all together, nothing is clear.

Are you saying you made a card purchase in a shop, never got charged for that purchase and closed the card account. Later, the retailer processed a refund of the purchase (despite it never being debited in the first place) and now that refund is sitting on your closed credit card account?

Looking forward to your second post.

eskbanker

Not getting good vibrations about this one

deniswilson1

Sorry for the confusion let me clarify.

Blatantly speaking i got refunded on a purchase that i shouldn't have, don't know how or why i just got some money back(i asked a bank employee if it was a mistake but he confirmed that you should be refunded some money). But the bank realized it was a mistake and is asking for the money back. Any ideas if i can keep the money?:cool: (this is all happening on a cancelled account)

Ebe_Scrooge

deniswilson1 wrote: »

Any ideas if i can keep the money?

Really ???? You're seriously asking this question ? Get back under your bridge.

[Deleted User]

You can keep it for now and it can be settled in court. However, this will cost you more in both time and money, as it's a valid debt and fees will be added.

The easiest thing is to pay it, but I appreciate you may not want to take the easiest route, in which case you'll need to go on the run for the next 5 years and 9 months until the debt is no longer enforceable.

[Deleted User]

If the bank are asking for it back you need to give it back