Many will process a refund within a few business days, while others will wait upwards of two weeks or longer.
Refunds can take up to 72 hours, depending on how closely related your bank is to the store's bank. I've seen them come though the next day, as well. If you balance doesn't make sense (which you should be checking regularly, anwyays) follow up. Ask for a faxed statement, or get one from the brick-and-mortar bank. Hi, I have just got a credit card last week and I bought something from Topman on the Wednesday, and took it back the next day, my card doesn't offer internet banking, so I called today to ask if the money had been refunded and they said yes it went through on Thursday but the balances don't seem to add up,... Up to the Merchant. In general, merchants are not required to issue a credit card refund within a specific amount of time. As a result, there is a lot of inconsistency among merchants. Many will process a refund within a few business days, while others will wait upwards of two weeks or longer.  Only then will the money reappear on your credit card account. Reasons for Delay. Every organization or business involved in the process has its own policy about when it will issue refunds. The merchant policy might issue a refund within 24 hours, or it could wait weeks. Nike, for example, gives itself 30 days to issue refunds. So, if you were waiting for a Nike refund, you'd wait 30 days plus the time it takes for the bank to apply it to your account. Report Abuse. No it usually takes 48 hours (at least) to refund onto your card. But-It depends on the bank. Phone them and ask them. I would also suggest to sign up for Internet banking, as is a brilliant way of managing your account. Hi, I have just got a credit card last week and I bought something from Topman on the Wednesday, and took it back the next day, my card doesn't offer internet banking, so I called today to ask if the money had been refunded and they said yes it went through on Thursday but the balances don't seem to add up,... Many credit card companies have in their terms that they have the right to take 3 to 4 weeks to credit your account with a refunded amount. So the merchant may have processed the refund but your credit card company will take 3 - 4 weeks to accept it. This is so they can hit you with balance charges. Location: Oxford. Posts: 4,637. A refund usually takes 1-3 days to credit your account, around the same length of time it takes to debit (remember, the store doesn't get the money when you pay until approximately day 3/4 and doesn't get charged for the refund until day 3/4 either). A debit card and credit card are different. With a credit card you are borrowing money that you will later pay back. With a debit card you are using money that is already in your bank account. It depends on what type of refund it is to determine how long it will take to receive for the money to be refunded. If it is a refund from a returned retail purchase, the process should take no longer than one week. If the refund is coming from the credit card company because of a disputed credit card purchase, the process could take months. How long does it usually take for a refund to post back onto a credit card? I had a refund on 7/8/14. Re: How long for Refunds to post. tlongmir01, We'll look into if credit card refunds and debit card refunds are similar, but we just recently received a question like this, except for debit cards: https://www.wellsfargocommunity.com/thread/4699. But credit card companies use major banks to supply the funds they lend to cardholders to make purchases, which means that the credit card's policies as well as the bank's policies can delay the refund. Billing Cycle:Customer billing cycles also control how long it takes to receive news of a credit card refund. For example, if you have an account that ends on the 29th day of each month, you may receive your card statement on the 5th day of the next month.  The payment company then sends the refund information through the credit card network to the credit card provider. It usually takes only two to three business days for a credit card refund to go through, but if the refund is processed on the weekend or over a bank holiday, it could take up to one week. If it is a refund from a returned retail purchase, the process should take no longer than one week. If the refund is coming from the credit card company because of a disputed credit card purchase, the process could take months.
https://answers.yahoo.com/question/index?qid=20070705020658AAZ08nr http://classroom.synonym.com/credit-cards-long-refund-7183.html http://www.ehow.com/info_8511456_do-credit-cards-long-refund.html https://answers.yahoo.com/question/index?qid=20070705020658AAZ08nr http://www.answers.com/Q/How_does_the_credit_card_refund_process_work http://forums.digitalspy.co.uk/showthread.php?t=1604943 http://www.creditcardchaser.com/how-long-should-i-wait-for-a-credit-card-refund/ https://www.wellsfargocommunity.com/thread/4725 http://www.pappashop.com/whmcs/knowledgebase.php?action=displayarticle&id=631 http://www.creditcardchaser.com/how-long-should-i-wait-for-a-credit-card-refund/
how long does it take to refund on a credit card