Halifax has issued an update for credit card holders expecting refunds, explaining the process for transferring funds to current accounts. The bank, which operates branches in Birmingham, responded to a customer inquiry on social media.
Customer Query and Halifax Response
A Halifax customer asked: "I've got a refund to my credit card. How do I move that into my current account?" The bank replied: "If your credit card has a credit balance, it'll first reduce what you owe. Any remaining credit can be refunded to your current account."
Understanding Refunds and Pending Transactions
Halifax outlined scenarios where refunds apply, such as undelivered goods or cancelled subscriptions. The bank aims to resolve claims within five working days. Pending transactions may take days to clear, but if cancelled, they are removed automatically within a week. In some cases, Halifax can remove a pending transaction within 24 hours, but the retailer may still take payment later.
Section 75 Protection
Under Section 75 of the Consumer Credit Act, Halifax may be equally liable with the retailer if goods or services are faulty, not delivered, or misdescribed. Customers can claim refunds from either the retailer or Halifax when using a Halifax credit card.
For any concerns about pending transactions, Halifax encourages customers to get in touch for assistance.
