4 Things To Do When Buying a Product

That Offers a Rebate

 

Many of us have made purchases with the promise of a rebate, but the Federal Trade Commission (FTC) cautions that some rebate offers don’t work out to the consumer’s satisfaction.

Victory State Bank, Staten Island’s only community-based business bank, points to potential rebate problems as described by the FTC.

For example, the FTC cautions consumers against being "baited" by mail-in rebates that never arrive or arrive far later than promised. By law, companies are required to send rebates within the time frame promised, or if no time is specified, within a “reasonable” time. “Reasonable” in this case often is interpreted as within 30 days, according to the FTC.

When purchasing a product that offers a rebate, the FTC encourages consumers to:

1)       Follow the instructions on the rebate form and enclose all required documentation in the envelope when filing for a rebate.

2)       Make a copy of all paperwork to be mailed when applying for a rebate. It's the only record a consumer will have of the transaction if anything goes wrong.

3)       Contact the company if the rebate doesn't arrive within the time promised.

4)       If the rebate never arrives or arrives late, file a complaint with the Federal Trade Commission, the state Attorney General or the local Better Business Bureau.

 

 

About Victory State Bank

 

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

 

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