AT&T is being generous with it’s exchange policy to accommodate the soon-to-be-released iPhone 4S. If you’ve purchased an iPhone 3GS or an iPhone 4 after September 4, you’ll be able to get a refund if you choose to buy an iPhone 4S when it’s released.
According to Modmyi.com, the normally 30-day refund policy is being extended just a bit. The 30 days are being marked from the announcement of the iPhone 4S and not the release date. This essentially extends the policy to 40 days.
iDownloadBlog clarified that customers will be given refunds for their purchase price, minus a restocking fee, usually $35 if the phone has been used. So if you fall into this window, you’ll be able to pick up a new iPhone 4S for the difference in price plus $35.
This isn’t the first time AT&T’s exchange policy has been modified to accommodate a difference between announcement and release dates.