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A deposit-refund system (DRS), also known as deposit-return system, advance deposit fee or deposit-return scheme, is a surcharge on a product when purchased and a rebate when it is returned. A well-known example is when container deposit legislation mandates that a refund is given when reusable packaging is returned.
Container-deposit legislation (also known as a container-deposit scheme, deposit-refund system or scheme, deposit-return system, or bottle bill) is any law that requires the collection of a monetary deposit on beverage containers (refillable or non-refillable) at the point of sale and/or the payment of refund value to the consumers. When the ...
In 2017, A Flint man was arrested for buying cans from Indiana to redeem in Michigan, defrauding the system out of more than $1k. [67] In 2023, a Los Angeles ring was arrested in a bust worth more than $4.3 million. [68] In 2007, 13 out of 15 people in a Detroit ring were arrested in a bust called "Operation Can Scam" worth more than $500k. [69]
“Always ask for and keep a receipt for your deposit in case you need to reference it later,” McGee said. ... 8 Biggest Money Deposit Mistakes I See People Make Daily. Show comments ...
Many U.S. states impose versions of those cooling-off period laws, and offer similar laws for an additional range of transactions, such as time share purchases and health club contracts. For example, California provides cooling-off periods for many consumer transactions, including insurance purchases, car warranties, dental services, and weight ...
Fortunately, there are several options available for putting money into someone else’s account, whether you’re looking to deposit the funds electronically or in person at a bank branch. Key ...
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A brokered CD is a certificate of deposit you buy through a brokerage firm, instead of from a bank or credit union. Like traditional CDs, you choose a term length that comes with a set interest rate.