Refund question

Sybersal

I know this is probably a daft question but please can someone explain to me why when you buy something with a debit/credit card the money comes out imediately but money is going back it can take up to 10 working days?!!?
(The retailers seem to blame the bank and the bank blames the retailer)

I am just annoyed as a company accidently overcharged me £100 on Saturday and the 'refund' was processed straight away but it will take up to 10 days to get my money back.
I just find it really frustrating

Thank you

nomoneytoday

It doesn't come out immediately, but usually a day or 2 later.
My shopping last Saturday for example was on my statement on Tuesday.

It may well take less than 10 days, so guess they have under promised as don't want you chasing them on day 1 and 2?

lisyloo

I think you are just going to have to accept this.
Retailers invest money into taking money from people and making sales ASAP.
They are simply less interested in customer services.
Clearly they have to do a minimum to meet legal requirements and not get bad publicity, but generally they won't spend as much time/effort/money on it.
Sorry, but I don't see this changing.

How many refunds do you get?
Surely this is a rare adhoc occurence.

Fruit_and_Nut_Case

Sybersal wrote: »

can someone explain to me why when you buy something with a debit/credit card the money comes out imediately but money is going back it can take up to 10 working days?!!?

Because it does. A cynic might think that the banks just want to have your money for as long as possible but I couldn't possibly comment.