Refund from credit card

Solidgone

Im sure a lot of us have had holidays cancelled and want our money back. I have been advised that my travel company will be refunding the costs in full. However, this payment will refund my credit card (American Express).

How do I go about paying this amount into my bank account? 

Is the process different depending on the CC company?

Many thanks y‘all. 

Curb_It

I am awaiting mine.  Supposed to fly to Lanzagrots today.  I have previously had payments on Corporate Amex cards refunded straight in to my current account so it should be okay once you give them a call.  Surely this will be happening everywhere. 

I'm hoping the same will be okay for my Mastercard.

aliwibble

You might be able to do a balance transfer onto your debit card, but that's like to incur a fee of some sort. Withdrawing it as cash is also a possibility, but there'll be limits on that and you need to be careful about whether that triggers interest charges. Once upon a time it was possible to write cheques from your card, but I doubt anyone offers that service any more, and if you're in a relationship with someone you trust, you might be able to use paypal to transfer the money off your card and onto their debit card without any fees. I'd say the safest thing to do is to keep the balance on your card and just slam every little expense onto it until it's cleared down.

moutuakilla

Solidgone said:

Im sure a lot of us have had holidays cancelled and want our money back. I have been advised that my travel company will be refunding the costs in full. However, this payment will refund my credit card (American Express).

How do I go about paying this amount into my bank account? 

Is the process different depending on the CC company?

Many thanks y‘all. 

I looked into this a while back and I think it is just a case of contacting your bank and they will be able to transfer it to your current account. Either that or you leave it on there and spend it

Rob7Lee

I had the same, with American express, did an online chat and they refunded to my bank account, it took about 10 days though.

bobmunro

Rob7Lee said:

I had the same, with American express, did an online chat and they refunded to my bank account, it took about 10 days though.

That's exactly how Amex work and I'm sure all of the others.

You cannot (or they don't like at all) have a credit balance on a credit or charge card - one simple call and they will transfer it to your current account. If you have a direct debit set up then they will already have your bank details.

They should not charge a fee.

CatAddick

This could be interesting for us.  Due to go in August, so not yet cancelled, but paid a substantial amount in cash - will we fall foul of money laundering if (when) we get a refund?  Should I be talking to Nimer for advice :-)

Solidgone

bobmunro said:

Rob7Lee said:

I had the same, with American express, did an online chat and they refunded to my bank account, it took about 10 days though.

That's exactly how Amex work and I'm sure all of the others.

You cannot (or they don't like at all) have a credit balance on a credit or charge card - one simple call and they will transfer it to your current account. If you have a direct debit set up then they will already have your bank details.

They should not charge a fee.

Thanks @b@bobmunro @R@Rob7Lee

CAFCDAZ

Was meant to be flying to Las Vegas for my stag do yesterday, still waiting for refund which can take 6/8 weeks, but was wondering the same thing.

se9addick

It’s easy peasy, especially with Amex. Just use their online chat facility after you login to your account and tell them you want to refund a credit balance, you’ll have to answer a security question and then provide details of the bank account (has to be in the UK) that you want it paid to. 

Solidgone

se9addick said:

It’s easy peasy, especially with Amex. Just use their online chat facility after you login to your account and tell them you want to refund a credit balance, you’ll have to answer a security question and then provide details of the bank account (has to be in the UK) that you want it paid to. 

That’s reassuring.