card refunds

scarlet55

it really..really anoys me when i buy something off my card.......the money is deducted immediately.....but if i then have to return the item i always get the same response.....the money will be back on your card within the next 10-14 days.....WHY.......it didnt take them 14 days to take it off my card, and while my money is in there account it is probably earning them interest too....:mad::mad:

iNath

When you put your card in the machine at the shop the funds are instantly reserved and penned off in your account. Your enter you PIN/sign which gives the company the go ahead to deduct the funds (most companies will usually collected the funds overnight though a few in the days following)

Although you think the money has gone instantly (as your available balance does go down instantly) money may not be taken until a few days later - the same amount of time that refunds take (3-5 working days)

If a company tells you 10-14 days that's just them stringing it out, once processed it takes no longer than the 3-5 working days.

Azari

iNath wrote: »

If a company tells you 10-14 days that's just them stringing it out, once processed it takes no longer than the 3-5 working days.

They may be told to say that so that they don't get inundated if there is the odd hold up or people don't appreciate the effect of bank holidays or whatever.

dealer_wins

If money is tight and you will possibly be doing a refund, pay in cash if poss!!

DCFC79

Maybe the 10 - 14 days thing is the worst case scenario and are told to tell customers this