The Dutch Payments Association announced on 9 April that it will soon be possible to recredit your bank account with your bank card (known as retourpinnen in Dutch). ABN AMRO will start offering this service to businesses from mid-2014.
What is recrediting via bank card (Retourpinnen)?
Recrediting using a bank card is a reverse PIN payment transaction whereby the retailer electronically returns money to the customer. A return PIN transaction is only permitted if the original payment was made by bank card.
How it works
The customer inserts his bank card into a point-of-sale (POS) terminal and the amount is paid back into his bank account the next day. When the retailer recredits the customer on a Friday, Saturday or Sunday, the money will be credited to the account on the following Monday. The retailer will give the customer a signed receipt as proof of a successful transaction.
The main benefit of recrediting a customer’s account on the spot using their bank card is that retailers don’t need to have large amounts of cash in their shops for customers wishing to return a product. It’s safe and convenient and in line with the trend to reduce the use of cash.
When will ABN AMRO offer this service?
All bank cards in the Netherlands are suited for this application – including ABN AMRO’s cards.
Businesses wishing to offer their customers this service need to sign a contract for this purpose with a bank. They should additionally have a POS terminal equipped for retourpinnen. ABN AMRO will start offering this service to a select group of retailers from mid-2014.
For more information about retourpinnen, go to Retourpinnen.