Best Buy Puts An End To Tyrannical Restocking Fees

For years, Best Buy customers have complained about the 15% restocking fee on most electronics (10% on iPhones). So in the spirit of the holidays (and because they are afraid of losing anymore customers than they already have), Best Buy has very quietly announced that as of today, almost all restocking fees are no more.

In a brief statement titled “Statement” on its website, BB writes:

Best Buy continually listens to our customers, and they told us they want to give confidently this holiday season and every other day of the year — and with that comes easier returns. Effective Saturday, December 18, Best Buy is improving its return policy by removing restocking fees for all products except special orders.

Consumerist has also obtained a copy of an e-mail sent from Best Buy HQ to stores across the country alerting them to the policy change:

Effective Saturday, Dec. 18, the 15 percent restocking fee will no longer apply to computers (including notebooks, tablets and iPads), projectors, camcorders, digital cameras, radar detectors, GPS navigation, in-car video systems, DJ equipment and lighting, or Pro-Audio equipment. The 10 percent restocking fee will no longer apply to iPhones. Restocking fees shouldn’t be charged for any returns of these products going forward.

This policy change is being made because we want to be the best destination for gifts and technology. To do that we need to make it easy for our customers to return product when they need to, which will give them one more reason to love Best Buy.

Additionally, the e-mail states:

If customers who were charged a restocking fee between Nov. 17 and Dec. 17 come into the store for a refund, process a return transaction for the restocking fee amount.

We’ll be curious to see if any misinformed Best Buy staffers attempt to charge restocking fees next week.

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