|
|
 Refund check for ONE CENT!
Posted Fri July 23, 2010 11:29 am, by gina cleo b. written to Capital One Financial
Write a Letter to this Company | Rate this Company
I had a credit balance on my account so your company sent me a check for the amount of the credit after it stood idle for 2 months.
The amount of the check was $0.01 Yes, that is correct, your company spent $0.44 in postage plus labor and materials to refund me ONE CENT!
While I am unemployed and welcome all income, this was beyond stupid and perhaps you could use someone such as me who looks at these sorts of processes and can set up best practices so your company does not waste its hard earned (read MY) money.
Who ever configured a system which spends nearly $1.00 to refund $0.01 should be sacked. As an ex Big4 alum, I am willing to bet they had a hand in it.
Just thought you should know what is impacting your bottom line.
 Reply
| Log In/Create an account | 8 comments |
|
|
| PlanetFeedback Comments are subject to strict terms and conditions. We reserve the right to deny site membership privileges to any individuals acting inappropriately. |
 |
 |
 |
|
|
by PepperElf Posted Sun July 25, 2010 @ 9:35 AM
|
|
|
hey i've seen people complain about stores when the price was just a
dollar off.
people tell them "it's just a dollar!" but they don't care.
sometimes it's even less than a dollar and still they say the same
thing. they want their money.
at least you didn't have to pay 44 cents to get that penny though
Reply
|
|
|
|
|
|
|
|
|
|
|
|
Please tell PFB surfers how YOU would get a .01 refund that the bank
has to pay out,across country(or where ever) cheaper than 1 dollar?
as an exBig4 alum???
If you can tell us how to do it, I will send you a money order for
$100.00
But, your plan has to have repeat business logic.Not a 1 time pass it
along from friend to friend.blah!!
Now, you will send ME a money order for $1000.00 if you cannot **put
your idea where your mouth is*** so to speak.
DEAL????
Reply
|
|
|
|
|
|
|
|
|
by Fairbank R. Posted Fri July 23, 2010 @ 9:52 PM
|
|
|
It's more cost efficient to mail you a check for a penny, than it is
to keep that credit balance on the books and mail you monthly
statements for the credit balance for the next three, six, nine,
twelve month, etc.
Also, if you take a look at the postage stamp on the envelope, you'll
find that Capital One paid considerably less than $0.44 to mail the
check. They negotiated a discount rate with the post office when they
became the USPS's biggest customer by volume:
As of January, 2010, Capital One is the fourth-largest customer of the
United States Post Office thanks to the countless mailers, offers and
advertisements it sends to your home on a weekly basis.
Reply
|
|
|
|
|
|
by Donno Posted Fri July 23, 2010 @ 6:15 PM
|
|
|
They can throw $.44 in postage away, but not your money. It doesn't
matter if it is the smallest possible amount.
Reply
|
|
|
|
|
|
by Lisa H. Posted Fri July 23, 2010 @ 12:13 PM
|
|
|
The thing is that the money was yours, and I suspect that legally they
had to refund it.
With all the lawsuits out there now, I can't fault them for doing so.
I could easily see someone filing if they didn't get their cent back.
I do agree with you though, it seems silly...
Reply
|
|
|
|
|
|
|
|
|
|
You were owed the money.
It sounds like the right thing to do, its called being honest.
good Day
Reply
|
|
|
|
|
|
SHARED LETTERS 
del.icio.us
Digg this
