Security deposit refund returned or applied to account?

Long story short when I signed up with Verizon I was asked to pay a $400 deposit. I paid $300.00 using a Verizon gift card, and $100 using my CC. On 2/22/15 makes one year I have been with Verizon. I logged on now to my account to pay my bill but it says Paid In Full. I go to my payment activity, it says "A/P security refund -$380.00" then it says "security deposit applied $400" then it says "security deposit interest $1.27" . I am EXTREMELY confused, was the difference mailed to me or the entire deposit applied to my account? I called Verizon and the first rep I had transferred me to "home services"- no idea why then I was transferred to the financial department but somehow ended up at the main telephone prompt starting all over again. I am extremely frustrated. Can someone help?

You're eligible to receive your security deposit back at the end of 1 year of uninterrupted service or upon termination of your service. Uninterrupted service means you have kept your account in good standing and paid your bill in a timely manner for one year.
Your security deposit will be refunded in the form of a credit to your account. If the applied refund creates a credit, and you don't owe any other amounts to Verizon Wireless, you will receive a check for that credit balance.
From the FAQ I previously referenced.

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Security Deposit Refund after one year

I have paid every phone bill for the past 11 months and I am wondering when I am eligible to have my security deposit returned. I have had no luck with other inquiries I have made regarding this deposit in the past.

Hi Brandon,
I appreciate your inquiry about the security deposit. In order to be eligible to receive a security deposit refund in full, the account must meet several criteria:
• 350 days of active service (the 350 days begins from the point of activation, not from the time the security deposit is applied to the account).
• No suspensions due to non-payment.
• 12 consecutive months of timely, uninterrupted service.
• No payments returned from bank
Account balance current (no more than 30 days past due).
• No related account delinquent or written off requiring payment.
If the account remains active after one year of service, the security deposit will be automatically refunded within 1 - 2 billing cycles.
EdW_VZW
VZW Support
Follow us on Twitter @VZWSupport

Cash journal: security deposit refund to customer in cash

Hi
Please mention how to post in FBCJ; security deposit refund in cash to custmers. As we cannot use expense or other business transaction type in cash journal posting.
Regards
Keyin.12345

Dear Llu jo and Atif
Thanks for your wonderful inputs, I have done the posting and subsequent clearing. But I have two doubts in this...
1. When i am posting to customer account in FBCJ, it is getting posted to Main reconciliation and from there I am trasnfering to Special gl account using f-02, and in next step i am clearing using f-32. Is this correct or do we need some other account in FBCJ. If it is possible plesae provide journal entries.
2. I have read on sdn that we can use substitution rule, I am trying to create but in substitution step HKONT field is not displayed. . In prerequisite step HKNOT field is there but not in substitution step. Is there any way we can distplay HKONT.
Please do the needful
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Security Deposit Refund

Hi, I got a paper document called "security deposit refund"
and I guess, I'm getting back the amount of $411.51 for having paid on time the whole year.
What do I do with this? Do I go to the bank and get the money or go to Verizon Wireless store?
I'm new to this, so I would appreciate your help. Thanks!

Is it a check? if it is then I assume you can take it to a bank. If not you can't.

Security deposit refund which is already expired

I found a check of security deposit refund that I got almost 2 years ago. I totally forgot about it, and it's already expired.
Can I get it reissued?

Hi ymmkr!
Let's look into this! Please follow an Private Message me for additional assistance.
AyaniB_VZW
Follow us on Twitter @VZWSupport
If my response answered your question please click the �Correct Answer� button under my response. This ensures others can benefit from our conversation. Thanks in advance for your help with this!!

Security Deposit - Refund time changed?

Good afternoon,
I just got off the phone with a Verizon representative and I was told my security deposit will not be refunded until next year in January? This is unacceptable, and I want to know who I can call or speak with to get this settled. When I took this plan from my moms account to take the bill off her hands in January of 2014 the woman I spoke with told me I had to pay a $400 non-negotiable security deposit, even though I have been with Verizon Wireless on this very same phone number since I was in 6th grade, mind you I'm now 21. She told me this would be refunded as long as I stay true to my bill and pay my bill on time for the next 6 months, that it would be refunded to me in 6 months. Being that I'm 21 $400 is a serious amount of cash for someone barely getting by and just moving out, and I did this all because I wanted to help my mom out and take the bill under my own name. I want my refund back, this is month is supposed to be the 6th month deadline for when my deposit is refunded. If you have phone logs you can check I welcome you to do so, as you WILL find out I was told that I was getting my deposit back in 6th months. This is completely unacceptable and I feel like I've been lied to. I was banking on this deposit coming back so that I could purchase a vehicle to get back and forth to work, and now that is apparently out the window? Who do I need to speak to so we can resolve this issue. Who do I call? Contact? The billing line straight up told me it won't be available until January of 2015, that is well beyond 6 months.
Thank you in advance for any advise you can spare,
Kenneth

Verizon Wireless Customer Support
It's certainly not ok for you to be told anything except for the correct information
YES! It is CERTAINLY NOT OK for us to be told anything except for the CORRECT INFORMATION!
I guess you guys should revisit your spiel when new accounts are being opened.
Like Kenneth, I was also told that I will get my security deposit after 6months, but when I read the T&C, I saw that it will be refunded after one year. I wish I recorded my conversation with your agent when I was opening my account back then. It will be a good case. Anyway, rules are rules and we have to follow what it is written on the T&C.
I hope Verzion will look into it and look into the spiel that your agents are using.

Interest Calculation on Security Deposit & Refund to party

HI, Expert
I have calculate the interest on Security deposit Amount for the period 01.04.2010 to 30.06.2010 & payment the interst on 03.07.2010 & clear the open item but when I run the next period it is again calculate for 3 days ,My cleint requirement is after calculation of interest it is taking 1-7 days for payment the interest to customer/vendor, is it possible in configuration setting
regards
gk

Dear Sriram,
It is possible:-
1.You have to create Interest Calculation Type for Customer SD Int Calculation say (R1)
2.Go to OBAA and maintain R1 there.
3.Go to Prepare Sp GL Transaction Interest Calculation (Maintain R1 - D - H - R1
4.In OBAC Maintain R1and select from date
5. Define Time dependant interest terms
6.In OB83 define the rate of interest
7.Go to OBV3 and maintain Account Determination for Int Posting (Select Account Symbol for Posting Key and again Assign GL code to same Account Symbol)
8. Maintain R1 in the Customer master to whom Interest will be payable.
Then Run Interest calculation posting T Code:-f.52
Regards,
Alok

Why is there a discrepancy with my security deposit refund check

I recently received my refund check for being with Verizon for a year, but the check is $163.87 lower than I was expecting. Why is there such a huge discrepancy between what Verizon took as a security deposit, and what I've received back? There is no explanation of this anywhere. I double checked my original paperwork and can't see anything relating to the withholding of partial deposit.

Was your bill due? I believe it should pay that months bill.
It could also believe what you thought was a deposit was also a device purchase included.

How do I get my security deposit refund

I have been a customer for over 2 years by now when will I get my security deposit. I opted to pay a security deposit as I didn't want to have lowering my credit score with a "hard" inquiry. I am waiting to get it back still.

You get the deposit back after 1 year of on time payments, if one is missed that resets. Also if you did meet that the check is sent to the last on file address they had for you at the time.

Security Deposity Refund

Hi
when i go to reverse in fp08 i got this error"First reset obstructive clearing" could you plese help me
Abash
moderator note - thread locked, no research. Please search help site and others in the sticky thread Research Resources and Rules of Engagement
Link: [Reset clearing|http://help.sap.com/saphelp_erp60/helpdata/en/8f/18eec604ea11d289700000e8215862/content.htm]
Edited by: William Eastman on Dec 25, 2011 5:49 PM

Is it a check? if it is then I assume you can take it to a bank. If not you can't.

When will my Security Deposit ($400) refunded?

On 9/28/2013 I was asked for a Security Deposit of $400 and was informed this would come back to me. My questions are WHEN and HOW?

Deposits are usually returned after 12 months of on-time payments, along with other criteria, i.e., click here:
Re: Security Deposit Refund after one year

Return of Security Deposit

When a security deposit is returned due to move-out, in FPL9, the return increases the amount of the manual payment that cleared the security deposit by the cleared SD amount or creates an automatic clearing item for non-manual payment clearings in the amount of the cleared SD. We were told this is "standard" but to me, this does not seem correct. Below is just one example of what displays. During a customer move-out, what is standard practice and how should the security deposit return appear in FPL9? Thank you!

As per Standard practise SD will be released from Downpaymnet on Final invoice and moved to transfter posting item under 250/10 main /SUb transaction.
Thansk,
Laxmi.

I can't get my security deposit back.

I'ive called *611 for verizon help and they said I have a zero balance . Went into the store I purchased my phone twice and contract from, with a 900 dollar deposit (500 for 1 line and 400 for another), and they said call 611 and wait for 6weeks. i still have my receipts but neither of them cared. I paid my bill FULL for 13 months consecutively ALL before the due date. Should I call the FCC or get a lawyer than trying again? I am tired of going back to the store or calling 611.

First of all I've never heard of a $500 deposit. Last I know of security deposits are either $0, $125 or $400 depending on your credit. I found this in an older thread. This is from a VZW rep
In order to be eligible to receive a security deposit refund in full, the account must meet several criteria:
• 350 days of active service (the 350 days begins from the point of activation, not from the time the security deposit is applied to the account).
• No suspensions due to non-payment.
• 12 consecutive months of timely, uninterrupted service.
• No payments returned from bank
Account balance current (no more than 30 days past due).
• No related account delinquent or written off requiring payment

Security deposit issue: customer service saying it is never possible to get it back

To anyone who might be able to straighten things out here,
first of all, I am not asking for a security deposit back right away. I was just asking for a possibility of getting my security deposit back and on which condition I can get it back. However, when I called up (800)-922-0204 and spoke with counselor after waiting half-an-hour, she told me I am unable to get security deposit back at all since it is non-refundable to anyone. I questioned her why is it called a deposit in such case, and she kept on insisting that security deposit is something I pay in the beginning to open up an account and it cannot be returned at all. I was puzzled since the guy at the retailer shop and he told me I can probably get the deposit back at some time later and check the estimated date to get the deposit back if I called the number specified above and talked to a counselor.
So I checked up the answers posted up in this forum and figured out that indeed security deposit is returned after certain criteria is met. I was really irritated and upset, but that's something I have to deal with, so I'll pass on that. Following are my conditions on Verizon account and I hope someone can tell me when I can possibly get the deposit back and/or where I can get such info.:
I first opened up my account in Verizon 4 years ago with $400 deposit (Aug. 2014). Then, as a Korean male, I had to go back to my country to serve in military service that I had my account suspended for about 3 consecutive years. (Thanks to the Verizon retailer who helped me out at Oakdale Mall.) The first condition to get the security deposit back was "to have 12 consecutive monthly bills paid without delay (No suspensions while doing so)" and I know it was not done since I suspended my account at around 10th month (June 5th, 2011). I re-activated my account with a different phone and a plan on Aug. 30th, 2014 and the guy at the Verizon service center in Vestal, NY told me to check when I can possibly get my security deposit back.
Sorry to leave such a long message here but I guess I am not good at summarizing things here. Please take the pain and help this poor kid out.
Thanks to y'all who reads it & leaves a possible answer to my question.

First of all, I assume you have a misprint and you opened your account ~4 years ago in August of 2010, not 2014(1 month ago).
Next, it appears you had your account suspended for 3 years after completing only 10 months of service and have recently re-activated the account.
If the above information is correct in your case, I would assume you will get your deposit back 12 months after reactivating your account without any further suspensions and/or late payments. So I would guess you will be eligible to get your deposit back in August, 2015.

Security Deposit Check

I activated my service in Feb 2013, and had to pay security deposit of $400, since I'm a student. And since I'm a student, my dad is paying bills for me. After 1 year, just today, I received a check from Verizon that said "security deposit refund." The problem is that the check is in my dad's name, and it is void 6 months later. My dad is abroad and is going to visit me at September. I can't do anything with this check. Is there any way of getting refund in other method?

Nope. Take it to your dad's bank. They shouldn't have an issue with you depositing a check with his name on it in his account. Then call your dad and have him send you the money.

Security deposit refund returned or applied to account?

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