Last week we reported that the Google video store was closing as of August 15 — and causing people who had purchased videos to lose access to them. Google’s initial make-good offer didn’t cut it with consumers, and now the company is offering full refunds.

When the news came out, Google gave a $5 Google Checkout credit. People were not happy with that, and Google noticed. Google has sent out an update, admitting they “goofed” and that they want to make it right.

Google said they will do three things to try to make it right by those customers:

(1) Give a full credit card refund for all customer purchases. (2) Keep the $5 Google Checkout credit at no charge. (3) You can still watch your videos, that you have purchased in the past, for up to six-months.

I personally think this is a fair deal.

For more coverage see Techmeme.

Related Topics: Google: YouTube & Video

About The Author: Barry Schwartz is Search Engine Land's News Editor and owns RustyBrick, a NY based web consulting firm. He also runs Search Engine Roundtable, a popular search blog on very advanced SEM topics. Barry's personal blog is named Cartoon Barry and he can be followed on Twitter here. For more background information on Barry, see his full bio over here. See more articles by Barry Schwartz