[RBS] 'Money back' store return policy starts 14-Dec

[Shmuel Rothenberg]

Consumers will be able to receive money back when they return many of their purchases, when a law passed by the Knesset six years ago finally goes into effect on Tuesday.

Until now, very few stores would give shoppers back their money, with consumers often having to fight just to receive store credit.

The cash-back law has some catches. The item purchased must be valued at over NIS 50, and the return will be granted in the same way the purchase was made (cash, check or credit card). Consumers who opt to exercise their right of return will have to pay a 5-percent cancellation fee (up to a maximum of NIS 100) and must return the item within 14 days of purchase.

The regulations on returning apparel and footwear are more stringent, allowing money-back returns only within two business days, and only if the items bear the original tags and were not worn. The law does not apply to underwear or bathing suits.

The return of electronic devices will carry a 10% or NIS 100 cancellation fee (whichever is lower) if the packaging was opened.

The new law does not require refunds for food, medicine or foreign-vacation package cancellations. The law will apply to hotel reservations, mobile phone plans and gym memberships, with the retailer required to return the value of the unused portion of the service plan, minus a cancellation fee.

More details: http://www.jpost.com/Business/BusinessNews/Article.aspx?ID=199265&R=R1