Refund asking for bank details

weedyt
Forumite Posts: 5
Forumite

I am trying to cancel an insurance policy. They say they can't refund it onto the card I paid with and are asking for my account details. This seemed odd, but I could be worrying too much. Is it safe to give them the details?
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The company I work for recently stopped taking card details for refunds too. I think it's to do with all the PCI compliance regulations. Most of our card payments are done via tokens so all the card details are encrypted and can be refunded without taking any details. Previously we would only take card details where customers paid cash or said the account linked to their card had closed. We also are asking for bank details so we can do BACS refunds, all you should need to provide is the account name, account number and sort code. I don't believe there should be any risk to this.1
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weedyt said:I am trying to cancel an insurance policy. They say they can't refund it onto the card I paid with and are asking for my account details. This seemed odd, but I could be worrying too much. Is it safe to give them the details?1
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What risk do you think there might be? It's substantially safer than them having card details.0
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The key is ‘never click on a link in an email’. Also ‘never give your card details to someone who has just phoned you’.If you’re on the insurance company’s website that you’re logged in to and the webform asks for your bank details or if you phoned the insurance company and they asked for them that’s different.
would've . . . could've . . . should've . . .
A.A.A.S. (Associate of the Acronym Abolition Society)
There's definitely no 'a' in 'definitely'.1 -
weedyt said:I am trying to cancel an insurance policy. They say they can't refund it onto the card I paid with and are asking for my account details. This seemed odd, but I could be worrying too much. Is it safe to give them the details?
Obviously follow normal checks to ensure it is from your insurer and not a scammer but there is little people can do with bank details, certainly much less than card details which you already gave them.0 -
Thank you for the genuinely helpful replies.It's not a situation I've encountered before, and as paying by card doesn't actually give merchants access to card details, it was something I wanted to check.1
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weedyt said:
and as paying by card doesn't actually give merchants access to card details, it was something I wanted to check.
Because of the rules on how card details need to be secured some choose not to take them, none should be storing the CVV, many call recording systems are tied to the computer so when the agent goes to the card fields the recording stops etc but the rules get more stringent overtime and whilst you are fairly safe with a registered insurance firm because of them being so heavily regulated there are others who are much slower to conform to new rules.
To give an example, back in my web dev days a customer asked for a form that captured all the card details. They didn't ask for SSL security and they wanted the form to email the details (over standard email) to them so they could put them through the PDQ they had in their shop. Obv I refused this but he could easily have gotten another developer to create this as a change to the system.0
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