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Author
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Topic: rant on stupid customers
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David Buckley
Jedi Master Film Handler
Posts: 525
From: Oxford, N. Canterbury, New Zealand
Registered: Aug 2004
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posted 07-11-2016 05:06 PM
quote: John Roddy Wait, isn't it illegal to refund a credit card purchase to anything but that same card?
I don't believe it is illegal, but it is against the terms of service you signed up to when you became a credit card merchant.
If you give someone a non-credit-card refund, and especially for cash, then that isn't (in the credit card companies eyes) a refund, it is a cash advance off a credit card, and thus the cardholder should not get the free interest period, but should be charged interest from day one as any other cash withdrawal off a credit card attracts. So from the credit card company's perspective, if you hand out a cash refund for a card transaction, you are ripping them off.
If you get caught doing it, you may have your ability to accept plastic revoked. Which may be a bigger deal than the Secret Service turning up
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