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 Problem with Chase Visa Gift Card
Posted Mon December 29, 2008 12:00 pm, by Lisa D. written to Chase Bank
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My 12 year old son received a $300 Chase Visa gift card for Christmas from his grandfather. He bought a TV at Best Buy which turned out to be damaged. We returned the TV to the store and attempted to purchase another. Unfortunately, despite the fact of the return, the funds were not credited back to his gift card. The store employee phoned the number on the back of the card and was that told the funds could take up to 5 business days to be restored to the account. The employee, and I, tried to explain to the Chase representative that the item had been returned and we were trying to use the card to buy a replacement, but he refused to credit the account. The Chase rep said the employee had to fax a LETTER -- not even a copy of the receipt showing the return!! -- stating that the merchandise had been returned and the store employee needed to sign a statement that he was not attempting to defraud the company. We were told that upon receipt of this faxed letter the account would be credited within a 1/2 hour. Of course, by the time all this was explained the store was due to close in 15 minutes.So, my son was unable to make a purchase using the card that night.
If Chase Bank can immediately withdraw funds from accounts, they should be able to immediately be able to restore funds to the same account. This was massively disappointing to my son and hugely inconvenient for the store employee who spent the last 45 minutes of his day agueing with a Chase employee over a CREDITED return.
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by Terena D. Posted Thu January 1, 2009 @ 11:16 AM
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Having a merchant fax a letter to have the funds released is normal.
I work at a hotel and anytime a guest needs money credited RIGHTNOW we
have to fax the bank asking for it to be released. The half hour wait
thing is probably just an estimate of how long it will take to have
the letter drawn up, faxed, and then approved.
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by Nicole F. Posted Mon December 29, 2008 @ 10:26 PM
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Visa gift cards are treated like credit cards. I know with my company,
the registers think that it's a credit card, not a gift card, so this
is also why some sales are declined because the purchase is greater
than the amount on the gift card.
Why couldn't Best Buy do an even exchange? Or is it their policy to
split these into two seperate transactions?
If I was Best Buy and this happened to my customer, I probably would
have just refunded to a store gift card and did the exchange this way.
But the customer probably would not want that in some cases, because
any further transactions would always result in a refund to a store
gift card and not back to the Visa gift card.
I am glad that you did not blame the employee of BB and it seemed that
he went above and beyond in trying to secure a quick credit for you.
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and either credited back what they owed you or let you pay the
difference, but for some reason BB seems to want to do the
transactions seperately. I had one situation with them where I had to
escalate to a manager to do an even exchange for an item I bought from
them and found damaged in the box. They literally stood there and
insisted they had to credit my card and I had to repurchase.
Technically they did nothing wrong, but could have made things easier
if they were so inclined. They could have voided the return when they
found out it wouldn't process immediately and still rung the exchange
or issued a refund card and let you repurchase.
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by Nate. Posted Mon December 29, 2008 @ 7:43 PM
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Like other posters have mentioned, it works just like any other credit
card.
Due to this fact, it is simply any old VISA card as far as Best Buy is
concerned.
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by Kim M. Posted Mon December 29, 2008 @ 6:36 PM
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Why couldn't/wouldn't Best Buy give you a store credit towards another
TV?
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by Not myself today Posted Mon December 29, 2008 @ 4:24 PM
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A credit card doesn't work this way. If this gift card follows the
same rules as a credit card, it makes perfect sense it would take
several days for the refund to be credited - it has to go through a
clearing process in batch (several transactions) jobs.
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Much like regular Visa cards, any kind of prepaid Visa card has to go
through the same refund cycle. That's just kind of the rule.
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Purchase another? Why couldn't you just do an even exchange?
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