A debit card is not a credit card. a debit card instantly takes the money from your account to pay for an item. its plastic cash, right? when returning an item, the stores insist on crediting your debit account, rather than giving you a cash refund. why?
by 
john pennington
ANSWERS: 9
-
Simplicity of rule making. They don't trust the staff to distinguish between credit and debit cards. Cash gets a cash refund, plastic gets a plastic refund. Don't worry their heads about different kinds of plastic.
-
Because a debit card is still processed by a credit card company, which costs the store money and creates the risk of fraud.
-
It costs more money to give you a refund.
-
But most all debt cards are both debt and credit cards. the limit is different on both fees for both are different and can use on line just like a credit card as long as the debit card has a visa or master card symbol on it many bank had rules that say that when a card is used and a refund is done the money must be debited back to account, mine does.
-
I have had some stores give me cash
-
If you think about it, any credit to your account (or debit, for that matter) thought the debit card takes at least a day. Cash comes out of their coffers(?) right away. With a debit card credit, it will take at least a day for it to be pulled from their account and added to yours, possibly giving them that one more day of interest, or one more day to be able to report the positive cash flow.
-
Is it really because of earning one days interest? I thought debit cards were strictly computerized from one computer to another and your bank account. Are you saying that when a human becomes involved, in this return transaction, it upsets the financial applecart?
-
Because you didn't put any cash into the register and you aren't getting any back simple as that. If you want cash, go to a ATM.
-
The store still has to pay a fee when you use the debit card. If they return it as cash to you, the purchase is charged a fee, but the return in cash can't get that fee back.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC