Can I still receive a refund if my card is Cancelled?
Banks will usually allow refunds to process successfully regardless if a card's been deactivated or the account's been closed. Refunds take 3-5 business days to appear in your account. Refunds can't be applied to an alternate payment method and will be returned to the card used for the original transaction.
In the event that a credit card was canceled due to theft or loss, don't worry. If the account is still open under a new card number, the refund from the merchant will be credited back to the new card.
The bank will realize that the card number is no longer valid, but will see the account it's tied to, at which point the refund should be transferred to the new card number/account automatically.
However, the lock will not stop card transactions presented as a new recurring or a previously scheduled recurring transaction by the merchant, transactions using other cards linked to your deposit account, or the posting of refunds or credit adjustments to your account.
Your bank should be able to reroute the payment to your new card, a different banking account, or mail a physical check to you. If you paid with a prepaid card, most banks will either process your refund to the original card or provide a replacement.
In most cases, the refund can still be received in the designated pool account with your card issuing bank, even if the card account itself is closed.
The retailer will not be able to give you cash or make the refund to a different credit or debit card.
In most cases, the bank will redirect the refund to your customer's new or replacement card. If your customer does not have a new card, the bank will usually send the refund directly to their bank account.
This is not possible. As per best practices, you should always process a refund on the card used for the initial payment.
Most of the time, the card-issuing bank will allow the refund to process and accept the funds. If the cardholder has the same card-issuer and bank account, then funds will be successfully credited to that account.
Can I still get direct deposit if my card is locked?
Can You Still Get Direct Deposit if Your Card Is Locked? Even if your card is locked, you can still get a direct deposit to your account.
When a card is cancelled or expires, your bank usually links it to the new card issued for your account. This means the refund from Amazon should be directed to your new card by your bank.
If your debit card has been canceled then you will not be able to use it both online and offline. If you want to use it, you will have to activate it again. Only after that you can use it. Or you can also apply for a new card.
Banks will usually allow refunds to process successfully regardless if a card's been deactivated or the account's been closed. Refunds take 3-5 business days to appear in your account. Refunds can't be applied to an alternate payment method and will be returned to the card used for the original transaction.
If your credit card or debit card number has changed but is for the same bank account, the refund will be processed to that account.
If a refund is mistakenly issued to an expired or cancelled card, the funds will usually still make their way back to your account associated with that card.
Cancelled debit cards still process credits/refunds, it'll route to your checking account.
If you were set up for a direct deposit of your refund and your bank account closed before the funds were direct deposited, your bank will return the funds to the IRS. The IRS will then issue you a paper check, resulting in a tax refund delay of up to 10 weeks. Was this topic helpful?
Yes, credit transactions like deposits, refunds, and reversals will still be allowed when your card is in the locked status.
If a credit card is expired or cancelled but they have been issued a new card by the same financial institution, the refund will reach the new credit card account. If they no longer have an account with the same financial institution, they should contact the issuer directly to verify the details of the pending refund.
What happens if a refund goes to an old credit card?
If you receive a refund onto a credit card that you've cancelled, the issuer should send you a cheque for the purchase amount. However, there's not a lot of regulation governing this kind of situation, and many issuers can end up dragging their heels on releasing the funds.
If you have paid your card down to a zero balance before receiving your refund, you will have a negative balance on your credit account — and any future purchases will be applied to the negative balance first.
Credit card refunds don't count as payments toward your monthly bill. Instead, they're added to your account as a statement credit. If your refund has not been credited back to your account by the time your credit card bill is due, you'll still have to at least make the minimum credit card payment.
If you try to use an expired card, the transaction will likely be declined because all the data points don't match up properly. Your name and card number may still be accurate, for example, but the expiration date isn't.
When you report the lost credit card, the issuer will most likely cancel your old card number in an effort to prevent any unauthorized charges and then send you a new card with a new number. But it could take a few days for the replacement card to arrive.
