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Why Do Businesses Take So Long To Return My Money After A Failed Purchase.

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smiffffffy | 10:06 Fri 22nd May 2020 | Business & Finance
2 Answers
Hi Guys, happy Friday.
Some feedback if possible.
Was wondering why it is that when i purchase any item with my credit card, debit card, digital payment methods etc, that my money is charged to me almost immediately whether it is daytime, middle of the night, on a weekday, weekend, bank holiday, in june or march etc etc etc.

However when it is time for a justified refund of my purchase in whatever form that it always takes days or even weeks and weeks to get my money returned.
it is the same digital format that i used to purchase with and more often than not is returned to my method of payment.

Is there any justification in the company's that do this?, should they be abiding by any laws? Should they be returning my money in a reasonable amount of time?

This is not about current situations with holiday firms that are making the news.
I have made purchases that have not been delivered on the quoted day, and when questioned they state they don't have the item in stock, so will issue a refund.
I am left waiting weeks, checking my card daily.

I know i can initiate certain financial recovery costs via my credit card and section 75 or charge back.

However what is the business and financial rulings around this.
Is it all in fa our of the companies who give reasons such as it has been sent to the financial teams, it will take X amount of days, but is always much much longer.
Are they flexing the rules for as much interest as possible.
Regards

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Doubt they are angling for interest, the rates are too low for them to risk their goodwill and positive feedback.
I blame it on bad administrative practice. I can't remember the last time I had to wait ages for a refund. Twice in the past 6 months I have wanted to return an item to Amazon as it was not as expected and both times I have received the refund the same day - and told to keep the items. One was £70.

If you shop online you must receive the refund within 14 days of returning the goods (or cancelling the service) if they are faulty or not as described.

If the goods don't arrive the company must issue the refund within a reasonable time - which sadly is not specified.

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