Anyone know the rules/laws on refunds.

[Moodyman]

Because this is not a cash advance & will never be treated as such, it is a refund of a positive balance, I have done this on several occasions, I have transferred the balance from the CC to another CC, however there has still been a DD active, the CC company have then taken the DD making the account positive, you just need to phone them you or use their secure messaging service & they will refund it back to you without charge.

You may have done this and many banks will waive cash advance fee depending on specific circumstances. But, it's still a cash advance and a fee is technically chargeable.

Example, a cardholder has £5k credit limit. Makes £2k purchase and pays it off in full. Then gets refund from the seller, and his credit limit rises to £7k.

When withdrawing cash from this £7k, it's a cash advance as you're borrowing from your credit limit. Read the terms and conditions of any credit card and this will be written in there.

If the credit balance is moved to another cc, it's called a 'balance transfer' and a fee is chargeable.

As always, bank staff are given discretion to use common sense and if there are special circumstances, they will waive the fee.

I think in summary, we're both saying the same thing to the OP. Speak to your card company, explain the special circumstances, and they should move £2k to a bank account without fee.

 

[Deleted member 26715]

I think in summary, we're both saying the same thing to the OP. Speak to your card company, explain the special circumstances, and they should move £2k to a bank account without fee.

Let's agree to disagree on what we both think we know & agree that that is the way forward.

 

[neil_merseyside]

Let's agree to disagree on what we both think we know & agree that that is the way forward.

But on best out of three you lose...

 

[keithmac]

I would say if the credit card.is 0 balance then they credit it with the refund this should not be classed as a cash advance.

Also don't even think of drawing it out at a cash machine as there will be charges loaded on.

As someone mentioned above, ring the CC company up and have it transferred back into your bank account, or just leave it on the card and spend it..

 

[vickster]

@Dave7
did you get your refund and money transferred?
I spoke to my CC company earlier as I have an account now in credit (Tesco/RBS), he basically said if I don’t anticipate spending in the next 3 months, it is recommended to get it refunded to bank account, so it’s clearly not difficult and no cost associated. It’s only £100 or so (as I had a fairly large balance to pay off in the next couple of weeks) so I’ll spend it no problem

 

[Dave7]

@Dave7
did you get your refund and money transferred?
I spoke to my CC company earlier as I have an account now in credit (Tesco/RBS), he basically said if I don’t anticipate spending in the next 3 months, it is recommended to get it refunded to bank account, so it’s clearly not difficult and no cost associated. It’s only £100 or so (as I had a fairly large balance to pay off in the next couple of weeks) so I’ll spend it no problem

Spoke to Hays travel and (as I expected) they offered me either a voucher or switch the holiday to later in the year/or next year. I said no thank you, I would like a refund. Hays then told me that they have put me on the list, that Jet2 have to honour it and that it should be back on the card by 7th May. I realise the enormous problems they must be going through so will give them till then and phone again.

 

[matticus]

Has anyone claimed a refund on a split train ticket? e.g. bought through
https://splitticketing.trainsplit.com ?

I seem to be stuck in a Kafka-esque circular sequence of online forms ...

 

[NorthernDave]

If you have a credit balance on your credit card, do they pay interest at the same rate as they'd charge it under reversed circumstances?

No, thought not...