When shopping for a gift, consumers should be aware of store policies with respect to refunds, rebates and rainchecks.
The New York Department of State's Division of Consumer Protection provides these tips to inform and empower consumers.
Refunds
A store is legally required to post their refund policy. If the store does not post any return policy, the law requires the store to accept your return within 30 days of purchase. There is no requirement under NYS law for a store to offer a refund in the form of cash, credit, replacement merchandise or other means. Retailers must make a written copy of the store's refund policies available upon request and to post such availability on its refund policy signage. A store's refund policy signage must also disclose if the return of any purchase is subject to fees and the exact dollar or percentage amount of such fees.
Rebates
Stores offering merchandise with rebates may post the after rebate or discounted price only if the actual selling price is displayed and it is clearly stated that a rebate is required in order to pay the lower price. Additionally, stores must disclose if the rebate will be issued in a form other than cash or check, including but not limited to credit, credit towards a future purchase, gift certificate, gift card, general use pre-paid card or any other form or compensation, and if any additional fees related to the use or non-use of the rebate apply.
Rainchecks
NYS law does not currently regulate the provision of rainchecks.
Suggested Steps to Take & Questions to Ask
- Be aware of refund deadlines and policies when shopping.
- Does the store have a posted refund policy?
- Does the store impose a re-stocking fee for returned merchandise?
- Does the merchandise have to be in a certain condition for the return to be accepted?
- Save all receipts for purchases to allow for ease of returns.
- What rebate information is disclosed?
- Do you have enough time to comply and submit the rebate to receive the benefit?
- Does the store offer rainchecks? If yes, ask how you will be notified when the product is available.
Note: Consumers should check with local consumer affairs authorities for additional protections in their jurisdictions.