Can credit card purchases be returned for cash?

No, it’s not possible to make a purchase with a credit card and then return what you bought for a cash refund. It’s Complicated: As mentioned above, your credit card company basically pays for the purchases that you make with plastic, reducing your available credit in the process, and you pay it back at a later date.

Can I get a credit card refund in cash or transferred to my account?

If you’d rather have the cash in hand, you can ask the credit card company to issue a refund via check, direct deposit or money order. Under federal law, the credit card issuer is required to honor this request; however, some companies will ask you to make the request in writing.

What to do when a company refuses to give you a refund?

Company Won’t Give You a Refund? Here’s How to Get Your Money Back

1. Try to Work it Out with the Merchant First.
2. Option 1: Request a Chargeback.
3. Option 2: Consider Mediation.
4. Option 3: Sue in Small Claims.
5. Option 4: Pursue Consumer Arbitration.
6. FairShake Can Help Make Arbitrating a Breeze.

Do merchants have to pay credit card refund fees?

What most merchants and customers alike may not be aware of is that merchants often have to deal with extra costs with every return. A merchant may be on the hook for a credit card refund fee, or they may still have to pay fees from the original credit card transaction.

Can I get my money back from a credit card transaction?

Unfortunately, because of the way credit card transactions work, it’s unlikely that the merchant will refund you in any way other than the original payment method. Often, the merchant can pull up your credit card details using your receipt and issue a refund back to the card.

What happens if a refund is issued to the wrong card?

If a refund is mistakenly issued to the wrong card, it is best to VOID the transaction. If the error has already become a settled transaction then contact your merchant services provider and request that the credit be reversed. Do not attempt to offset the credit by running a sale. Be cautious with gift returns.

How long does a credit card refund take to process?

In both of the cases, let’s assume the merchant accepts the return. However, depending on the type of business and all the players involved with the transaction (e.g., merchant account, issuing bank, etc.), processing a credit card refund could take days, weeks, or even a month!