Watch Out For Restocking Fees

More and more stores are charging restocking fees for returning opened merchandise.

Imagine that you purchased a digital camera or that you received one as a gift. The problem is, you don’t like the model and you want to return it. However, you didn’t realize you didn’t want the model until you had already opened it. Be prepared to pay hefty restocking fees even if you have the original store receipt.

If You Don’t Want It, Don’t Open It

As frustrating as it may be, the fact of the matter is, if you don’t want a gift, make sure you don’t open it – especially if that gift is electronic in nature. A number of the big-name stores are charging customers about 15 percent of the purchase price as restocking fees to take the item back. That means if you purchase a $200 digital camera, open it and then take it back, you’re only going to get $170 of your money back.

Consumer Beware

Your best bet is to make sure you want something before you open it. If you’re not sure whether or not you’ll like the item, call the store to find out their return policy. If they charge restocking fees, it may not be worth the risk.