It’s a question that has been on many people’s minds as they ponder the pros and cons of using green dot cards. Some people feel that the cards are a great way to reduce your environmental impact, while others worry about the potential for fraud. In this article, we’ll take a look at both sides of the green dot card debate and see if there is any truth to either side’s claims. First, let’s take a look at what green dot cards actually are: Green Dot Cards are plastic cards that have been designed to help reduce your environmental impact. They come in two varieties: those with an “E” on the front and those without. The “E” variety typically has a smaller environmental footprint than the “N” variety, as it uses less plastic and other materials. The main benefit of using green dot cards is that they can help you save money on your energy bill. By using these cards instead of traditional paper tickets, you can save up to 20% on your energy bill! Additionally, by reducing your use of plastic products, you’re helping to protect our planet from climate change.
The short answer is: yes, although they are better off just requesting it through their bank (assuming they do not want to contact Visa or Mastercard directly). It may take a while to get the money back – but it will happen. Even if you are not in a position to refund the cardholder, you can still go ahead and contact your processor on their behalf as long as you feel comfortable doing so (which is why I would suggest having them contact their bank first).
I do want to point out that there is a difference between “negative” transactions and refunds. Negative transactions are when a cardholder has signed for something and did not receive it or had an incorrect amount given to them; whereas refunds are basically when they just want their money back. This article deals with negative transactions more than anything else; however, many of the rules apply even if they just want a refund since that situation is probably not going to be much different than a negative transaction.
Before I get into everything, it is important that you understand what we are talking about here and the difference between merchant processing (which most people deal with daily), bank issuing (what Bank of America does for its customers), and Visa or Mastercard as far as major card brands go along with how they issue cards.
Merchant Processing: The main responsibility for disputes comes down to the processor because when everything goes well, it is their name on the sales receipt. However, if anything negative happens involving a sale – it falls into two categories: firstly, resolving an “incorrect charge” which typically only happens in situations where someone ends up getting charged more than they were supposed to be charged (like a store charging way more than they said they would or a restaurant making up phony charges) – so the processor will refund what was taken in addition to possibly having the retailer investigate the situation. The other is if it is an actual charge that should have been on the card but never went through; in which case, you are not liable for it since whatever actually happened did not go through your card terminal/payment gateway.
A few things I want to say about each of these situations:
Wrong Charge : This can involve anything from somebody putting their balance on their jcp account and forgetting about it until getting a bill for $500 when all they bought was a toothbrush to someone stealing another person’s card and using it (or stealing a card out of the store’s register) – pretty much anything that has you end up going over what they were supposed to pay. This is usually your problem, not Visa’s or Mastercard’s unless there was something blatantly wrong with how you took their information and/or processed it (like turning down their chip).
This can involve anything from somebody putting their balance on their jcp account and forgetting about it until getting a bill for $500 when all they bought was a toothbrush to someone stealing another person’s card and using it (or stealing a card out of the store’s register) – pretty much anything that has you end up going over what they were supposed to pay. This is usually your problem, not Visa’s or Mastercard’s unless there was something blatantly wrong with how you took their information and/or processed it (like turning down their chip). Incorrect Charge : This is much more common (as long as the card was not stolen beforehand) – you charge $10.00 for a coffee to JCPenney’s card but they only get charged $5.00; maybe the cashier accidentally entered $20.00 instead of $10.00, etc. Your merchant processor will refund them the full amount even if JCP does not want to give them everything back because they feel like they were overcharged – since the transaction did not go through your terminal/processing network, you are in no way obligated by Visa or Mastercard to pay it back. Some processors will do this themselves but a good processor will let you know that the next time you handle a transaction on that card, “this amount is pending and will not be charged.” This is very important because if the customer tries to buy $500 of gift cards at Wal-Mart with their JCPenney’s card and it shows up as $5.00 then they are going to go through the roof and assume you stole their money; so when someone does this in your store – everything has to come through again and since it does not show up as being processed yet, give them back whatever cash they were trying to charge (unless there is more than one customer doing this).
You cannot over withdraw from your Green Dot card. However, there are rare occasions where the account can be accepted even though you don’t have enough money in it. This can happen because of timing with transactions and overdraft fees will not incur, but they still need to be paid in full when the transaction is completed.
If you have no money on your Card or a balance less than the amount of the Monthly Charge, when we assess the Monthly Charge your card will be taken negative.This means that while you have a negative balance on your card, it is still open and available for use after you reload it
We can only allow the maximum of $2,999 in cash to be deposited or withdrawn from your account per day. Furthermore, you are not able to deposit cash when your balance exceeds this amount.
