Card refunds

[Rofesleg]

When you say 'we' - I'm sure your company sends it immediately, but some don't
I've had refunds the same/next day from plenty of companies - but some do take longer

If you get a refund on to a credit or debit card I can't see how you would get it the same day, for the reasons Fragrance Guy said. It is out of the company's hands.
I can send the customer an email to confirm, plus a link to the card merchant showing that the refund has been processed - but you won't see it on your account for a few days

On the other hand, I once worked for a company that issued every refund by cheque, even if the original payment was by card or even cash.
They would promise the cheque would be received in 28 days, but then wait until the 3rd complaint before finally sending it. The refunds were for anything up to £10k as well. An awful practice and an awful company.

 

[TeessideCleveland]

It is out of the company's hands.

It is out of the company's hands once they actually have sent it. Not all companies send the refunds straight away.
It's the same as 'the cheque's in the post' - it's only when it's actually sent

 

[Rofesleg]

It is out of the company's hands once they actually have sent it. Not all companies send the refunds straight away.
It's the same as 'the cheque's in the post' - it's only when it's actually sent

It is the bit about you receiving refunds to your card from plenty of companies on the same day.
That is what is out of the company's hands.
No matter how keen they are to reimburse you.

 

[TeessideCleveland]

It is the bit about you receiving refunds to your card from plenty of companies on the same day.
That is what is out of the company's hands.
No matter how keen they are to reimburse you.

You're right I've looked it's been day after
When it is slower that is down to the individual company - if some can get it the next day then that shows its the company that is responsible for the timescales of receiving the money

 

[ThatFragranceGuy]

You're right I've looked it's been day after
When it is slower that is down to the individual company - if some can get it the next day then that shows its the company that is responsible for the timescales of receiving the money

Some might get it the next day because they were in an earlier batch of payments, some might get it the next day because they've got a high volume of refunds to check and they may sample a percentage to look for fraud or to make sure it's compliant with policy. Not everything is automated, because something works one way at one company with their merchant services and your card company doesn't mean it works that way at another company who uses a different merchant services company and diffent payment handling service

When someone takes money off your card, that doesn't go into their bank right away and likewise when they issue a refund it doesn't come out of theirs / go into yours right away, there are a whole raft of systems involved that can complicate the process

 

[Rofesleg]

You're right I've looked it's been day after
When it is slower that is down to the individual company - if some can get it the next day then that shows its the company that is responsible for the timescales of receiving the money

The company isn't responsible.
Honestly. It isn't.

 

[TeessideCleveland]

The company isn't responsible.
Honestly. It isn't.

If one company refund goes in in a day and another doesn't who else is then?

 

[ThatFragranceGuy]

If one company refund goes in in a day and another doesn't who else is then?

....


Merchant services
Acquiring bank
Refund processes
Issuing bank
Etc

This is a simplified diagram, refunds work in the reverse but follow a similar journey once processed, and prior to that they may have internal manual checks

Each company will use different suppliers for things like merchant services and payment gateways

 

[Rofesleg]

If one company refund goes in in a day and another doesn't who else is then?

I've never known it be thst quick.
Unless you mean it is showing as 'pending'? Some credit cards show that status the next day.
Our refunds usually take 3-4 working days to go back on the customer's card after we process them. Weekends and bank hols lengthen the process, which is odd as it is all electronic.

It's also worth knowing that when you make the purchase, it might show on your card straight away but the seller doesn't get the money for 3 or 4 days. Sometimes longer. Though they can also see the transaction as 'pending '.

The refund is just the same, only in reverse.