Credit card refunds?

dragon · 22-08-2007, 15:41

How long does it usually take for a refund to appear on a credit card statement.

Ordered something from microdirect a couple weeks ago but it was out of stock, contact them and got a reply last tuesday saying they'd cancelled the order and issued a refund.

Haven't seen anything on my "recent transations" section of my credit card providers site and the order still shows as "being picked" on microdirect

Emailed them again yesterday as I thought it would have shown up by now

and they confirmed that they had cancelled the order and issued a refund (still shows as "being picked") on their site.

I know when I buy something it shows up within a couple days.

superbiatch · 22-08-2007, 15:43

I think a refund can take up to 2 weeks, at least thats what i remember being told. Cheek really considering as you say - the money for purchasing items usually goes out within 2-3 days

Delta Whiskey · 22-08-2007, 16:12

A refund from Scan took 10 days to appear. Scan said they paid it back immediately the goods had been received by them and checked out. It was suggested the Bank was taking it's time processing the refund for their own reasons.

Gosh!. The Banks taking advantage of their customers, whatever next!

dragon · 22-08-2007, 16:24

Quote:

Originally Posted by Delta Whiskey

A refund from Scan took 10 days to appear. Scan said they paid it back immediately the goods had been received by them and checked out. It was suggested the Bank was taking it's time processing the refund for their own reasons.

Gosh!. The Banks taking advantage of their customers, whatever next!

Fair enough i know my bank account statements are usually a couple of days behind when it comes to withdrawls/deposits/refunds.etc

Obviously the CC company are a bit slower.

Wicked_and_Crazy · 22-08-2007, 16:42

AFAIK the actual refund transaction within the credit card company takes the same amount of time as the sale transcation

SMHarman · 22-08-2007, 18:03

Quote:

Originally Posted by Wicked_and_Crazy

AFAIK the actual refund transaction within the credit card company takes the same amount of time as the sale transcation

Yes it does (i have a merchant account so I should know). Now internally they might have some more procedures to follow as companies are usually happier with money coming in the door and require more approval (and some time taken) for money going out the door, but the processing / exchange of the transaction takes the same time customer > merchant as it does merchant > customer.
Most customers don't usually complain about 10 days on a credit card as even if it overlaps a statement generation the refund will be made before the payment of that statement is due. Maestro / Visa debit on the other hand...
Most credit card statements show date of transaction and date of posting these days so when it finally shows up on your card you should be able to see the date it entered into the Visa / Mastercard interchange network.

alferret · 22-08-2007, 20:13

Refunds via debit or credit cards should show on the account within 3\4 working days.

All refunds I have received have been on the 3 day mark, the same with my partner.

Anything over 7 working days I would start to ask questions.

dragon · 22-08-2007, 20:31

Quote:

Originally Posted by alferret

Refunds via debit or credit cards should show on the account within 3\4 working days.

All refunds I have received have been on the 3 day mark, the same with my partner.

Anything over 7 working days I would start to ask questions.

I did and they claimed that its definatly be refunded.

So do i start asking the credit card company questions next?

alferret · 22-08-2007, 20:42

Quote:

Originally Posted by dragon

I did and they claimed that its definatly be refunded.

So do i start asking the credit card company questions next?

Yes mate it would be advisable to make a call or 2 if needed. Im pretty sure that if the refund had reached them they would tell you, and if it hasnt reached them them you will need to contact the originator of the refund.

dragon · 22-08-2007, 20:55

Quote:

Originally Posted by alferret

Yes mate it would be advisable to make a call or 2 if needed. Im pretty sure that if the refund had reached them they would tell you, and if it hasnt reached them them you will need to contact the originator of the refund.

i'll give it a couple more days just in case they are being slow at updating "recent transations" if not i'll be calling them