Halifax has issued a clarification regarding its account rules and customer refunds after a customer asked how to move a credit card refund to their current account. The bank responded via social media, explaining that any credit balance on a credit card will first reduce what you owe, and any remaining credit can be refunded to your current account. Customers can also seek further assistance through the Halifax app or online banking.
Section 75 Protection
Under Section 75 of the Consumer Credit Act 1974, if you make a payment using a credit card, both the retailer and Halifax may be equally liable if something goes wrong. This includes situations where the item or service is faulty, doesn't arrive, or isn't as described. Halifax's website states that you may be able to claim a refund from either the business or from Halifax.
What You Need to Provide
When disputing a payment under Section 75, Halifax advises you to provide the following details:
- A written summary of your case to date
- A copy of your contract, invoice, and/or terms and conditions
- A copy of any additional transactions made to the business or retailer that were not made on your credit card
In some cases, Halifax may also request photographic evidence and/or warranties to gather as much information as possible about the transaction.
Martin Lewis's 'SAD FART' Acronym
Financial expert Martin Lewis uses the memorable acronym 'SAD FART' to summarise the circumstances where you may challenge a payment under consumer law. This stands for a product not being satisfactory, as described, faulty, or if it hasn't lasted for a reasonable length of time.
Refund Timeline
Halifax aims to resolve any payment dispute claims within five working days. If you have a credit balance on your credit card, you can request a refund to your current account by contacting Halifax through the app or online banking.
