What happens when money is refunded?


What happens when money is refunded? The merchant will refund the purchase back to the credit card company, not you (this is called a chargeback). Your credit card issuer will then credit your account for the returned amount.


What happens when you get a refund?

The merchant refunds the purchase amount back to your credit card issuer, and the card issuer then credits your account for the returned amount, removing it from your statement balance.


What are the rules for a refund?

Customer Returns and Refunds Under Federal Law While many retailers have decided this makes for the best business practice, they aren't legally required to accept returns. Rather, retailers are required to accept returns only if the sold good is defective or if they otherwise break the sales contract.