From: Eileen Walker (emwalker@owu.edu)
Date: Thu Jan 30 2003 - 14:52:14 EST
Elissa,
In reviewing our credit card agreement to try to answer this question in
the past, I found language requiring that refunds be credited back to the
card. If the refund is paid by check, then the credit card company would
consider the original charge to be a cash advance, which has a different
treatment than a payment. However, if the refund is issued more than a
month after the charge, I will consider issuing a check if the payor
requests it and states they have already paid off their credit card
balance. That may be stretching the terms of the credit card agreement, but
it seems logical to me.
Eileen
At 02:14 PM 1/30/2003 -0500, Elissa Lans wrote:
>I'm sure this has been asked before, but I am hoping you don't mind
>answering again.
>
>What is the requirement behind refunding credit card payments back to the
>credit card versus issuing checks?
>
>We do automatic refunding and if we didn't have to manually do these
>credit card refunds, it would save a lot of time, etc..
>
>Thanks for your help.
Eileen M. Walker
Associate Vice President & Controller
Ohio Wesleyan University
Delaware, Oh 43015
Phone: (740) 368-3363
Fax: (740) 368-3009
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