FOR IMMEDIATE RELEASE                                                                    Nov. 24, 2008

COUNTY ISSUES SURVEY OF STORE REFUND AND RESTOCKING FEE POLICIES

Terms and conditions vary widely from store-to-store

            About to start your holiday shopping?  You may want to know in advance about each store’s refund policy, including the deadline for returns and whether a restocking fee will be charged.

            To help shoppers make the best decisions, the county Department of Consumer Protection has surveyed the policies of 30 major retailers in Westchester.

            “What we found is that refund policies vary widely,” said County Executive Andy Spano. “Particularly in these times when people are being extra careful watching their money, it will pay – literally – for you to make sure you have the information. Be aware of refund deadlines, particularly when you buy gifts early. And make sure you know whether a restocking fee will be charged on a return, particularly on electronics.”

Some stores such as Kohl’s, Neiman-Marcus and Bed Bath & Beyond have no deadline to return merchandise. However, most stores impose time restrictions such as refunds for 14, 30, 60 or 90 days only.  Other stores offer an exchange or store credit only.  And many stores require a receipt before a refund will be issued.

            “Stores in Westchester are required by law to conspicuously post their refund policy,” said Gary Brown, director of Consumer Protection. “However, stores can establish any refund policy they wish, as long as the policy is disclosed to consumers. So before you make a purchase this holiday season, it’s important to be a smart shopper and find out the store’s return policy.”

            The survey also found that some stores charge a restocking fee for the return of  certain products that have been opened by the consumer. Restocking fees are typically applied to products such as portable electronics, computers, televisions, camcorders and digital cameras, but are sometimes also applied to furniture and jewelry. 

For example, Best Buy charges a 10 percent restocking fee for opened iPhones, and a 15 percent restocking fee for opened products such as notebook computers, projectors, camcorders, digital cameras, radar detectors, GPS devices and in-car video systems.  Target charges a 15 percent restocking fee for opened products including camcorders, digital cameras, portable DVDs and portable electronics.  And Sears charges a 15 percent restocking fee for certain opened products such as home appliances and electronics.

            “Restocking fees can make returning electronic products an expensive proposition,” said Brown.  “Consumers should be mindful that once they open certain products, a restocking fee will apply at many stores.”

The department also offered the following tips for shoppers this holiday season:

• Keep all receipts. Many stores require a receipt for refunds or exchanges.
• Ask for a “rain check” if a sale item is not in stock (unless the ad specified that only a limited number of the items were available).  The rain check entitles you to purchase the item at the sale price for the next 30 days.  If a store refuses to give you a rain check, contact the Department of Consumer Protection.

• When shopping online, make sure the website is “secure” before entering personal or financial information such as your credit card number.  Some websites use an unbroken key or padlock logo to indicate that security is in place.  But to be positively sure, look at the browser box of your computer when you’re asked to input personal info.  The web address will begin with https:// instead of just http://.

• Choose between a traditional gift card - - which can be used at a specific retail or restaurant chain - - or a bank gift card, which carries the logo of a major credit, debit or charge card, and can be used at a wide variety of locations.  Most gift cards issued by shopping centers or malls are bank gift cards.

• Look out for gift card fees such as a purchase fee that is charged when you buy the card, transaction fees for using the card, fees for checking the balance, and inactivity fees if the card isn’t used within a set period of time.  Under New York law there can be no inactivity fee for the first 12 months, but inactivity fees can be charged after that.

• Check whether the gift card has an expiration date.  Most retail gift cards don’t have an expiration date, but most bank gift cards do.

• Check for any unused gift cards you may have received last year, and use them before they expire or inactivity fees are imposed.  An estimated 25% of gift card recipients still haven’t used one or more gift cards received last year.

• Avoid buying gift cards from retailers reported to be in financial trouble (for example, a retailer that has declared bankruptcy).  The store may go out-of-business before the gift card can be used.

• Credit cards offer additional protection for large purchases, transactions where you pay first and accept delivery later, purchases that require future action by the seller, and items that might break down or
• contain flaws.  You can dispute the charge if there’s a problem, and you’ll have additional consumer protections than if you pay by cash or check.

• If you use a debit card, the money is taken out of your bank account immediately.  It’s more like paying by cash or check than by credit card.  If there’s a problem you have to try to get the money restored to your account. 

            If you have a problem with any of your holiday purchases, and the retailer isn’t resolving the problem to your satisfaction,  you don’t have to fight it alone.  Contact the Department of Consumer Protection at 914-995-2155 or online at www.westchestergov.com for advice and assistance.

            The full results of the survey follow:  

STORE REFUND/RESTOCKING POLICY

As Seen on TV	14 days exchange or store credit only
AT&T	30 days with receipt and original packaging.  Restocking fee of $25 - $50 if original packing and contents are not included.  Restocking fee of 10% on Apple branded equipment
Barnes and Noble	14 days with receipt, except no returns on  magazines, newspapers and used books
Bed Bath and Beyond	No deadline (with receipt and original packaging).  Music, DVDs and audio products must be unopened

STORE REFUND/RESTOCKING POLICY

Best Buy	30 days, except 14 days for certain products including computers, monitors, camcorders and digital cameras.  Holiday return policy for products purchased between November 1 and December 24:  January 24 for return or exchange of 30-day products, January 8 for return or exchange of 14-day products. Restocking fee of 10 – 15% on certain opened products
Brookstone	30 days with receipt with certain product exceptions
Circuit City	30 days, except 14 days for certain items including computers, monitors, printers, scanners and GPS systems.  Restocking fee of 15% on certain opened items
Container Store	No deadline.  Returns without a receipt will receive a credit for the lowest retail price within 90 days
Costco	No deadline, except 90 days for certain products including televisions, projectors, computers, cameras, camcorders, iPod/MP3 players and cell phones
CVS	60 days with receipt
GameStop	30 days with receipt for unopened new  merchandise.  For used merchandise and opened new accessories, exchange only for identical item within 7 days
Home Depot	90 days.  Restocking fee of 15% on return of regular special orders
Kmart	90 days with receipt and original packaging, except 30 days for air conditioners and gas powered equipment.  Certain products including music, movies, software and video games must be unopened
Kohl’s	No deadline with receipt.  Without receipt, even exchange or store credit only

STORE REFUND/RESTOCKING POLICY

Lord & Taylor		No deadline with receipt.  Without receipt, exchange or store credit only at lowest selling price within last 30 days
Macy’s		180 days.  Returns without receipt issued at product’s lowest actual selling price within the last 180 days. For furniture, 3 days  and a restocking fee of 25%
Michael’s		60 days with receipt and in original condition.  Returns after 60 days get a merchandise credit.  Returns without receipt based on promotional price or everyday price less 20%
Michael Matthew’s Jewelers		7 day refund/30 day exchange with receipt.  Restocking fee of 15%
Neiman-Marcus		No deadline
Phone Store	Store credit or exchange only with receipt.  Restocking fee of 25% on unopened merchandise; $50 -$100 on opened merchandise
Radio Shack	30 days with receipt and original packaging
Safavieh	7 days for regular merchandise; store credit only for accessories; final sales and floor samples cannot be returned.  Restocking fee of 25%
Sears	90 days with receipt and original packaging, 30 days for home electronics and mattresses, 14 days for products including computer software, DVD, VHS, video games and music CD’s.  Restocking fee of 15% on certain opened products including home appliance, electronics, home improvement and automotive

STORE REFUND/RESTOCKING POLICY

Sports Authority	90 days with certain product exceptions.  Store credit only after 90 days
Staples	No deadline, except 14 days for furniture, technology and business machines.  Store credit only without receipt.  Software must be unopened for refund; exchange for same title only for opened software
Target	90 days with receipt and original packaging.  Restocking fee of 15% on products including camcorders, digital cameras, portable DVD and portable electronics
Thomasville	Store credit only.  Restocking fee of 25%
TJ Maxx	30 days with receipt
Toys R Us	90 days with receipt and original packaging, except 45 days for products including video games/accessories/systems, software, DVD, VHS and electronics; exchange for identical item only if these products have been opened
Wal*Mart	90 days with receipt, except shorter periods for certain products including computer components, computer accessories, camcorders, digital cameras, computers.  Prerecorded music, movies and software must be unopened.