What happens if a refund is sent to a credit card that is paid off?

When a refund is issued to a credit card with zero pending payment there will be a negative balance on the credit card, which essentially means the credit card company owes you money. This balance will be set off against your credit card liability in a subsequent period.

Do I need the card I paid with to get a refund?

In other cases, you need to have that same credit card on hand in order to process the transaction. If you don’t, the merchant might be willing to issue your refund with a gift card or store credit instead, but that’s likely not the best option since it limits how you can spend the money.

Can money be refunded to a lost debit card?

Banks are typically obligated to refund money so long as the customer follows fraud reporting procedures. Debit cards offer consumers the convenience of paying for items immediately without having to carry cash.

What happens if I receive a refund on a credit card with $0 balance?

If you get a refund to a credit card with a zero balance when the refund is processed the credit card will have an increased available credit limit. This means your refund will show as a surplus on your credit card. This means it may also show that you have a negative balance due.

Can you buy something with a credit card and return it 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 transfer a credit card refund to my bank account?

It is against the rules of a credit card for the account to be in credit. So if the refund puts your account into credit they are quite likely to notice and return the funds to your bank account automatically. If that does not work, just ask them to send you the funds.

Can you get a cash refund on a credit card payment?

A The manager and staff at Argos were quite correct – under anti-money laundering rules, refunds on goods bought by credit card must be recredited to that same credit card.

Can You issue my refund to a different card?

If you have already been refunded, we can only issue refunds to your original form of payment and are unable to re-issue funds to a different card, account, or payment method.

What to do if your debit card is lost?

If your card is lost, you must contact the bank immediately to report the loss, but you can still get cash through your bank while your lost card is being replaced. While you can get cash without a debit card, it will take some work and travel on your part.

Can you get cash back on a gift card?

Pay cash get cash back, pay debit or credit and it goes back on that card. If you tried getting cash back there is a good chance they will assume you are trying to commit fraud. No, but attempting to do so may/will get you arrested for fraud. What you will get in most places is a merchandise credit for something else of the same or higher amount.