AGL Refund to Coles Mastercard Gift Cards

amorphous2111 on 05/03/2022 - 11:31

So last year during the Coles Mastercard gift card 10% promotion I bought several thousands worth of gift cards. And due to the fear of being compromised by the hackers I prepaid my AGL account to the tune of a few thousands. All went well.

A few days ago I got a text msg from AGL that a refund has been processed, without me having requested such refund. It was processed in the form of a check. I chat with an agent and asked them to refund to my bank account. All went well and the agent assured me that the fund has been processed to my bank account ending ****. I asked the agent to confirm that in the first place because there is a automatic message saying that the refund has been processed to the originak form of payment, but he said it is just the standard template, the money will go to the bank account I provided.

Today I checked and it turns out that all the money has been refunded back to the Coles Mastercard gift cards that I no longer have. Who kept the empty card for nearly half a year?

I raised this with AGL but the payment team simply said they cannot recall the transaction. I am trying to escallate this with all the screenshots I have since bascially I would lost all the refund.

So if you are in the same situation check your AGL account, and maybe better to request refund immediately in the form of check. I will update as this goes.

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Comments

  • Neoika on 05/03/2022 - 11:34
    +1

    Thanks for this info. In short, do not overpay the bill accounts too much. Council rates full for the current year, utilities a quarter ahead.

  • popsiee on 05/03/2022 - 11:38
    +5

    Who kept the empty card for nearly half a year?

    I do . I keep them for more than a year .

    • Neoika on 05/03/2022 - 11:41
      +2

      I may throw away the physical cards early, but keep the card numbers till when I think that refund is not possible.

      • Savas on 05/03/2022 - 12:28
        +2

        i take a photo of the front and back of the cards just so i have it

    • powerful9990 on 05/03/2022 - 13:58

      Exactly, specially when you pre-pay such a large amount and paying this via a pre-paid gift cards/visa/mastercard is a big no-no as you will always have issues getting refunds and all.

      Better to keep them for some other uses e.g., shopping, fuel etc where you are going to use the product and services.

      Good luck OP.

    • bamzero on 06/03/2022 - 13:45

      Yep. I keep the details in my password manager.
      I suspect I'd find cards in there from years ago as never really clean it out.

  • popsiee on 05/03/2022 - 11:44

    I'm sure the OZB gift card Guru Wookie says keep them too when he comes along .

    • WookieMonster on 05/03/2022 - 12:24
      +1

      Yeah, I have a pile of 100+ used prepaid gift cards next to my desk for this exact reason.

      • ihbh on 05/03/2022 - 15:17

        $25k+?

        • WookieMonster on 05/03/2022 - 22:01

          Not quite, as most of them are $100 Coles Gift Mastercards, but there are some $250 Vanilla Visa gift cards and $500 OnlyONE Visa gift cards mixed in there…

      • HairyChickens on 05/03/2022 - 21:19

        One of those cards will be collectible one day

        • WookieMonster on 05/03/2022 - 22:01

          Lol one day wayyyyy in the future when people don't know what the black strip on the back does

  • resubaehtgnolhcs on 05/03/2022 - 12:04
    +7

    My understanding is that merchants will generally process the refund back to the original payment method - apparently it's to stop money laundering.

    • singingwolf on 06/03/2022 - 08:35

      Except laundromats who refund you in cleaned cash

  • capslock on 05/03/2022 - 12:15

    I prepaid my AGL account to the tune of a few thousands.

    I'm sorry to hear about what happened to you. You took a big risk and it didn't work out.

    I also prepaid bills but I spread it around and definitely not in the thousands.

    • Neoika on 05/03/2022 - 12:18

      AGL must figure out that the balance wont be flat in 2-3 years.

    • Savas on 05/03/2022 - 12:29
      +3

      how is it a risk? OP hasn't done anything wrong. AGL screwed up.. they should know people use prepaid debit cards.

      • Neoika on 05/03/2022 - 12:38
        +2

        Or a closed card.

        • Settero on 05/03/2022 - 13:38

          Funds can be returned to a closed card, most banks will just mail it to you as a check or notify you to arrange payment.

      • capslock on 05/03/2022 - 13:37
        +2

        Nobody prepays their electricity or gas bill by thousands. It raises suspicions and unpredictable things can happen.

        • Savas on 05/03/2022 - 13:43

          shouldn't companies like getting paid money?

        • CheapskateQueen on 07/03/2022 - 21:41

          not really.I would prepay my investment property downstairs bills for 12 months, perfectly normal

        • chris666 on 11/03/2022 - 18:00

          Mine end up a thousand in credit some times but I don't pay with gift cards never have bill shock then I just put it on hold for a quarter

      • Settero on 05/03/2022 - 13:37
        +3

        Prepaying large amounts holds high risk of refund. The prepayment is a liability to the company, like a few bills worth will probably not flag, no clue how many months worth OP paid , but it sounds like many.

        Now in regards to the bad info the rep gave , yeah that's 100% not okay, but would have resulted in same situation had he been give correct information. OP would of had the fund returned via original payment method.

  • AndyC1 on 05/03/2022 - 12:27

    Call AGL and speak to the complaints department and make a formal complaint and say that "if it's not resolved to my satisfaction within 2 working day then I will make a formal complaint to the EWOSA". See https://ewosa.com.au/ for complaints.

    • amorphous2111 on 05/03/2022 - 12:45

      Thanks, I would do so if it is not resolved.

      To clarify, for some reason they refunded my electricity credit in part by a check. That’s when I chatted with them and due to the hassle of cashing a check I specifically requested AGL to refund the rest of the Electricity account and most of the gas account to my bank account, leaving just about $250 in the gas account. I did that because I was concerning about them deliberately refunding without asking, and I was worried about the exact reason of money going to my prepaid cards.

      The chat agent even asked if I wanted a check or money to my bank account and I said “to my bank”, and AGL confirmed that it is the case despite the generic message of “refund to the original form of payment”. That is my main argument against them. In the past I successfully avoided some charges with AGL on the basis that they dis not advised me about those charges during the phone calls.

      I have for years prepaid my utilities bill as I churn credit cards. It’s always good what business doesn’t want advanced payment which is basically interest free loan? Not sure if it is real risk than having my card hacked. I did have one Coles mastercard gift card hacked before that and had to call Coles a few time to get the money back.

      • Muzeeb on 05/03/2022 - 13:06
        +4

        due to the hassle of cashing a check

        What? You can feed it into an ATM. It literally takes 20 seconds.

        • Savas on 05/03/2022 - 13:22
          +1

          Or take to bank.. just hand it over to them. Takes 5 seconds. I avoid ATM since once it jammed the check and it froze.

        • freefall101 on 05/03/2022 - 18:02
          +1

          I have a cheque from citibank for $0.63 that I plan on dropping in the bank next time I'm in there.

          I'd actually rather they give me a cheque, so bizarre things with refunds don't happen (such as saying it'll go to the account on file but actually going to the source again). I would have definitely stuck with a cheque if the chat agent said one thing and the generic messages said another thing. Always easy to get a cheque reissued if something goes wrong, chasing down a lost transfer thought is a nightmare.

        • ol mate on 06/03/2022 - 10:42
          +4

          NAB also allows cheques to be deposited via their mobile app by taking a photo of the front and rear (then keeping the cheque for a week or two to make sure it clears)

      • WookieMonster on 05/03/2022 - 13:50
        +8

        Time for the cookie lover’s two cents on this matter, and there will be some speculation…

        It’s always good what business doesn’t want advanced payment which is basically interest free loan?

        I doubt that is the way AGL views it.

        The issue is that you prepaid your AGL account to the tune of several thousand dollars, and my guess is that from a risk management perspective, AGL decided it is far too risky to continue letting you have funds sitting against your AGL account for a number of reasons:

        • AGL is not an authorised deposit-taking institution (ADI), so they’re straying into a legal grey area when they are holding several thousand dollars worth of funds on behalf of a customer (which can at anytime request the funds be returned to you). It sounds like you have prepaid your account to the point where you probably cannot reasonably exhaust the prepaid funds in the next year or two, and AGL have decided to return the funds onto the original payment methods.

        • There may also be anti-money laundering (AML) and counter-terrorism financing concerns motivating their decision. I don’t have time (or the enthusiasm) to read all 387 pages of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, but AGL may be worried there may have additional legal requirements to meet because of your massively overpaid account, so it would be easier to nip the potential problem in the bud by processing a refund. For the record, I am not specifically accusing you of fraud or money laundering or anything like that.

        • You have used multiple payment sources (i.e. multiple prepaid gift cards), which may be an indication of someone using stolen credit cards to purchase prepaid gift cards, and then redeeming the funds on the prepaid gift card before the original credit card was reported as stolen. (Again, I am not specifically accusing you of fraud or money laundering or anything like that.) AGL may be able to check the BINs of the cards used to prepay your account, but as soon as they see you used a prepaid gift card, that itself may set off more red flags, as prepaid gift cards are generally regarded as “unsecured” cards, since these cards are not always tied to a specific person, whereas a card issued by a bank or other financial institution on behalf a customer can be traced back to a specific authorised person.

        Having said all of that, I think it is worth pursuing this matter further by raising a formal complaint with AGL or through the relevant ombudsman. I have no idea whether you’re on a standard retail contract or a market contract, but my cursory look over AGL’s market contract terms and conditions only indicates:

        • AGL accepts payments in advance (section 8.7d), and

        • If you breach any “Regulatory Requirements”, you must be cooperative and give AGL reasonable assistance (section 12.1e). (The definition of “Regulatory Requirements” may include the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006.)

        However, it is all very vague and opaque, so it is definitely worth chasing it up.

      • AndyC1 on 05/03/2022 - 14:09

        Your post has:
        "Today I checked and it turns out that all the money has been refunded back to the Coles Mastercard gift cards that I no longer have"

        Now it has changed to:
        "To clarify, for some reason they refunded my electricity credit in part by a check. "

        Helps if you post the correct info in the first place.

        Good luck as you will need it as if you make this mistake then you will need all the luck you can get.

        • amorphous2111 on 05/03/2022 - 14:22

          AGL deliberately refunded part of my electricity account in check. That triggered me to request the consequent refunds. “All the money” here means the rest of credit except the first check refund. Sorry for any confusion.

          • lgacb08 on 08/03/2022 - 11:40
            +1

            @amorphous2111: We call it cheque, not check.
            and sure you've played a big gamble without knowing the full rules and it's trickery. I don't like your chance but hope for the best. But apparently coles is taking the benefits, all they have to do is to wait for 3 years to reclaim the unspent money unless you managed to fish out the card details in the mean time.

      • amorphous2111 on 05/03/2022 - 14:20

        Thanks WonkieMonster.

        I prepaid for about a year worth of bill, around $1000 on each account. Not much point of saving a 7% gift card then advancing cash to the business for a few years at some 2.x % pa (offset mortage).

        I did this for years with my credit cards without any problem and never been refunded. When I did this to my water account SA water did call and ask and I explained that I had a number if discounted gift cards I want to use as soon as possible, all good.

        Prepayment to a business is like an interest free loan and I don’t know a law preventing a business to accept prepayment. It is not like a liability like employee accumulated leave that appreciate with time and promotion, to my knowledge.

        If they suspect of any fraud or illegal activities they should at least contact the custommer to clarify before proceeding with any action. They do know that people close credit cards all the time.

        As I said, my conversation with AGL went like this…after asking about the first refund in the form of check.

        AGL: Your accounts is in credit of this and this. What do you want me to do with it?
        Me: Ok, please refund this much from Electricty and this much from Gas (fund left over to cover my coming bills)
        AGL: Do you want a check or bank account?
        Me: Please refund to this bank account… bank number
        AGL: Done, and the generic message of refund to the original form of payment
        Me: Wait a second I specifically asked for refund to be processed to my bank account ending **** as I paid by prepaid credit cards that I no longer have.
        AGL: Yes processed to the bank account ending ****, I apologise for the standard terms blah blah.
        Me: all good thank you.

        The after a few days not seeing money in my account, I logged into my AGL and see 250 to this credit card, 250 to that credit card… all up about 1400.

        If they consider gift card as “unsecured” and not tight to a person then it is even more crtical for them to contact and clarify with custommer first. Otherwise how do they know or prove they refund to the correct “person”.

        I will wait for 7 days as per the term of refunding to my account but I will dispute this matter. In the mean time it is a warning to people like me who prepaid AGL account to better take action now than chasing the money later. As this happened for the first time with AGL I suggest people to cash out credit in check, now.

        • Quantumcat on 05/03/2022 - 15:00
          +4

          If they consider gift card as “unsecured” and not tight to a person then it is even more crtical for them to contact and clarify with custommer first. Otherwise how do they know or prove they refund to the correct “person”.

          That's exactly why they send it back to the original payment source, so it has to go back where it came from and not to someone else

  • elgrande on 05/03/2022 - 14:32
    +1

    Atleast you saved 10%..

    • dust on 05/03/2022 - 16:06
      +3

      saved 10% lost 90%

  • JimmyF on 05/03/2022 - 16:06
    +2

    for some reason they refunded my electricity credit in part by a check

    AGL do this once a year, its for those with big solar systems etc who earn credits all year long, they send them a cheque once a year.

    due to the hassle of cashing a check I specifically requested AGL to refund the rest of the Electricity account and most of the gas account to my bank account

    Ok OP so it wasn't them who started this issue, but you who requested it.

    Hmmm cashing a cheque looks pretty easy now compared to getting your money back!

    • dust on 05/03/2022 - 16:08

      Yes exactly. Cashing a check can be done at some ATMs these days. Not particularly troublesome?

      • JimmyF on 05/03/2022 - 16:20

        Yep any deposit ATM will take a cheque without issue. Sure its a pain to go out and find one, but also not that hard either!

    • amorphous2111 on 05/03/2022 - 16:31

      “Issue” means “refund” or “not refund to the agreed destination”?

      If it is “refund” then I requested the refund.

      If it is “not refund to the agreed destination” then it is AGL, or its agent.

      I think it will be ok just need to chase them up. In the past they had to refund me money twice on the basis that their agent (chat, resolution team) did not advise me about the charges. Here I have clear evidence they advised me where the money will go to but it turns out not correct.

      But techically it takes 7 days so maybe it will just show up next week in my account.

      • JimmyF on 05/03/2022 - 16:44
        +1

        If it is “not refund to the agreed destination” then it is AGL, or its agent.

        AGL are following money laundering guidelines, which is to refund back to payment method. Pretty standard 101 refund policy these days.

        In the past they had to refund me money twice on the basis that their agent

        So not your first time doing this then?

        • DoctorCalculon on 05/03/2022 - 20:34

          AGL are following money laundering guidelines, which is to refund back to payment method. Pretty standard 101 refund policy these days.

          100% agree with you on the AML side of things.
          However, AGL's CSR royally screwed up, and therefore AGL should be held accountable.

          They should have clearly stated to the OP during the chat session that the funds will be going back to the original payment methods, which they clearly failed to do.

          @amorphous2111 Did you send the chat history to your email address?

          • amorphous2111 on 05/03/2022 - 21:45

            @DoctorCalculon: I saved the screenshots now, but I trust AGL will not do anything with the chat archive.

            In the past I used to request a meter check after being hit with a huge gas bill. To be more precise AGL said they will investigate and do a meter test. It turned out I had an underground gas leak and after that AGL sent me a bill for the meter test. I said fine I am happy to pay as it is their policy, but I didn’t recall anyone one advising me how much it would cost… They reviewed their call script and waived it.

            The issue this time is that they did not do what they clearly said they will do, and that’s my ground. Had I know that money will
            go back to the prepaid cards I would have asked for a check.

            But from my experience with AGL I think it will be fine. I am going to ask them to review the chat script and see what they will do. In the worst case I assume I am entitled to know the card numbers I used to make the payment, as I can still go to Coles and request the original invoices with evidences of transaction from my credit card statement at that time, in case they are concerned about “money laundry”.

            This is more about warning people who prepaid AGL with the 10% Coles gift card last round, right after the hacking event. I don’t actually worry I will lose money, just the hassle of chasing it.

            • JimmyF on 06/03/2022 - 08:24

              @amorphous2111:

              This is more about warning people who prepaid AGL with the 10% Coles gift card last round, right after the hacking event. I don’t actually worry I will lose money, just the hassle of chasing it.

              Then buy bother with all the hassle to 'save' 10% if you're not worried?

          • JimmyF on 06/03/2022 - 08:23
            +1

            @DoctorCalculon:

            However, AGL's CSR royally screwed up, and therefore AGL should be held accountable.

            To a point, CSR often advise the 'wrong' thing or maybe the CSR did put in the OP banking details thinking it would be refunded to this, but this was only changing the solar credit side of things not the others.

  • screensaver on 05/03/2022 - 18:46

    so they gave you the numbers off the cards?

  • OzHunterNSW on 06/03/2022 - 15:31
    -1

    So what is your issue?
    You got the money back!

    • OzFrugie on 06/03/2022 - 17:42

      Dont understand it either

  • lgacb08 on 08/03/2022 - 11:45

    So you figured out that prepaying using 7% discount is better than 2% in offset but I'm pretty sure you'll get bigger savings by just ditching agl for both gas and electricity, unless you have some special discounts with them.

  • coolsteps on 08/03/2022 - 12:31

    same thing happen to me CSR royally screwed up and refunds when back onto many amex cards and now i got to sort out about 2 cards that i had closed and find out how to get those 2 refunds they claim sent..

  • R n b on 22/04/2022 - 10:34

    So what was the conclusion??? OP, you got refunded or ……????????

    • amorphous2111 on 22/04/2022 - 15:47
      +1

      I would say that yes, I will.

      Basically AGL acknowledged that since I was misled by the CSR, and I have very specifically requested that the refund need to go to my bank account, they will process the refund again and put it in my bank account.

      It took several phone calls and email with the chat log to reach that outcome. But it did not end there.

      At some point they said that a refund has been processed and money will be in my account 3-5 days… waited for 5 days for nothing and emailed again, ok this time the money was deposited in my account the day after.

      I was oversea at that time and thought it was all over so didn’t bother to check my bank account. Only later I realized that before depositing the refund they deliberately debited the exact same amount out of my bank account one day earlier.

      So email exchange again with my bank acc screenshots, the guys in the AGL payment team insisted that they have refunded me as shown in my bank account, even though I patiently referred to him about the debit one day earlier.

      Called again to the resolution team and now they apologised and said that the refund was for the debit they mistakenly took out of my account. The “actual” refund will come after 10 business days from when they said it would come which should be next Tues or Wed.

      That’s whole story so far. Likely I will get my money back but the whole experience is like that.

      • ifuggedxyz on 22/04/2022 - 16:10

        If you don't mind asking, how much money are we talking about here?

        • amorphous2111 on 22/04/2022 - 18:41

          About $1400 across both gas and electricity, not a lot but also not negligible to me.

          • Tyrx on 22/04/2022 - 18:58

            @amorphous2111: What prompted you to purchase so much in gift cards? Pension limits?

            • amorphous2111 on 22/04/2022 - 21:23
              +1

              @Tyrx: No. Often the 10% discount Coles Mastercard gift card is hard to come
              by, and if it is up it is hard to buy since people are very quick to snap them up.

              If you followed Ozbargain you would have known that there was a hack on the Coles Master Card gift card last year, I myself got a card compromised but it’s not so hard to get the money refunded by Coles.

              After that event Coles ran a 10% promotion on the Coles MCC again, and it seemed like people was still worried about the hacking… as a result I could buy almost as many $250 Coles MCC that I want, and I did buy a lot. To me it was a sure 5% return on investment and I prepaid for one year on all my bills, kid’s school fee and tutoring fee… the kind of stuff that I have to pay for in the year anyway.

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