With Christmas gifts, it's the thought that counts. But that doesn't mean some of us won't be heading to the mall or trekking to the post office for some returning.
But before you do, there are a few things to keep in mind. There can be strings attached with returns, especially among the most popular gifts of the season.
"Electronics are really tricky because there are restocking fees associated with electronics,” said Jody Rohlena, Shop Smart Magazine senior editor.“ They're popular gifts this time of year. Many retailers will charge you a little portion of the purchase prices, 15 percent, 20 percent, whether you've opened it or not.”
Consumer Reports recommends reviewing a retailers' return policy before heading to the mall, and keeping the following in mind:
- Gift receipts will make your transaction much easier, and some stores won't accept returns without one.
- Not all purchases made online can be returned at a store.
- Some gift cards can't be returned, or won't amount to a cash refund.
- If items were purchased at a store's outlet they may not be returnable.
- If an item comes with a free or bonus gift that usually has to be returned too.
“You might not be able to return the something you paid for, without the freebie you didn't pay for,” said Rohlena. “So if you got a package deal, bring everything back to the store, just to be safe.”
Happy returning!
