Refund in purchace - when would transaction be certain?

OnePound

Hi All,  I had situation with a faulty bike (expensive, £2.5k).  In short its gone back to the manufacturer and the shop has offered a refund.

They have said refund back to credit card or BACs transfer – the CC they can do tomorrow, but BACs needs to go to office later in week.

The sticking point is I think the shop maybe about to go out of business, so I want to get in ASAP. 

When will I have certainty that the CC transation refund  in final?  E.g. could it be stopped in a couple of days?

Thanks for any help.

WillPS

Once they process it their end it'll take up to a week to work through the Visa/Mastercard network, but there'll be 'no backies' once they initiate this if that's what you're worried about. If it's an Amex you'll get it almost immediately IME.

In the worst case if they go bust and you don't have a refund you should have no trouble initiating a chargeback given you have proof the merchant. had accepted your return.

born_again

Straight back to CC.

Make sure you get it in writing (email fine)
That they have refunded £££ on DATE to card end 1234. In effect a refund receipt.
That is important for a chargeback.

Nasqueron

As a firm, we normally want to refund to the method of payment used, it's much more of a pain to do something like BACS after, not least because of the additional security checks needed