Cashback refunds: bad news for those who change IBAN

Those who have entered in the app IO a wrong IBAN will have to wait to receive the transfer with the Cashback refund up to 150 euros: now we also know how much, and there's no good news

The first semester of the State Cashback program has been over for months now, the second semester has been cancelled, there's no definite news about the initiative restarting in January 2022 and, in the meantime, there are still users of the program who haven't received the refund transfer for the first semester.

We are not talking about the Super Cashback of 1,500 euros, for which the timeframe is still long, but about the ordinary Cashback up to 150 euros for users who have made at least 50 valid transactions in the period January-June 2021. The vast majority of them received what they were entitled to, but some of them still did not. As is well known, the problem almost always stems from either entering the wrong IBAN for crediting within the IO app, or failing to enter the IBAN itself. But what happens after the user changes IBAN? After how long does the Cashback refund arrive?

Cashback refunds: the message on IO

Many people have asked these questions and some of them have also asked the online support of the IO app, all receiving the same message of clarification. An important message, because it tells us what the timing will be for the payment of refunds.

IO, in the message, explains that "All transfers were made to the IBAN for the credit that was set in the IO app on July 15, when all the data entered by the participants in the Cashback program were collected and transmitted to Consap".

As a result, those who on that date had not entered the IBAN, or had entered an incorrect one, "missed" the first round of refunds. But they did not lose the right to receive the refund: they can still correct the IBAN today. However, from correction to payment will take some time. How much? Not a little.

Cashback refunds: when the money arrives

This question was also answered by the IO support team, but the answer will not make many users who have changed the IBAN happy: "Within 60 to 90 days of registering the new IBAN in the IO app, Consap will make a new transfer and you will receive another message in the app with the outcome of the operation".

So there is a wait: from the moment the IBAN is changed for the credit to the issuance of the refund, in fact, it could take up to 3 months.