Can You Get a Refund On a Prepaid Credit Card
Most major issuers of prepaid credit cards, including Visa and Master Card, treat purchases with prepaid cards the same as purchases made with conventional credit cards or debit cards.The key to receiving a refund on one of these cards is to ensure that your circumstances meet the refund criteria set by the company from which you made the purchase.
Once you verify this, the process is pretty simple for receiving a refund to your prepaid credit card regardless of whether you made the purchase in person or on line.
Determine the refund policy set by the company that issued the card. The company that issued the card can ultimately set the rules and stipulations concerning refunds.
However, most prepaid credit cards—including those issued by Visa and Master Card (meaning nearly all of them)—are treated just like regular credit cards. This means that you can receive a refund by returning the item as you would when you paid with cash or a debit card.
Determine the refund policy for the establishment where you made the purchase. Much like the company that issued the credit card can determine its own refund policies, the store from which you bought the item or service can determine its own return/refund policies.
For instance, if you purchased something “as is” or you’ve waited longer than the posted refund period for a service, the store can lawfully refuse your refund. Contact the store before going in to ensure that you can receive a refund for the item or service.
Collect everything you’ll need. After you verify that you can receive a refund, you’ll need to collect several things before returning to the business where you made the purchase. If applicable, place the item in its original packaging (if you opened it at all).
You’ll also need to bring the prepaid credit card (so the store can run it for the refund), the receipt (so they know you actually made the purchase there), and a photo identification (so the store employee can confirm that the prepaid card is yours).
Go to the store for the refund. Take everything you need with you down to the store and ask for the refund. Most refunds for actual items are processed through a customer service desk near the store entrance rather than through one of the checkout stations. Provide everything to the customer service representative and ask for the refund.
Ask for an estimate on the refund date.
The refund can take several days to clear. The company that issued the prepaid credit card will have either a website or a phone number that you can use to verify the balance on the card. Check the balance often to ensure that you receive the refund within seven business days.
Contact the respective company after seven business days. If you don’t receive the refund within seven business days, call the customer service department for the company where you were supposed to receive the refund. This department can usually verify whether or not the refund has cleared. If it has, but you haven’t received the funds, then contact the company that issued the card. Read More