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If a company offered a refund for an item you paid with a credit card, it would show up typically the next day. It does not take longer for a credit card transaction internationally as domestically. The merchant does not put the charge or refund on a boat and ship it across the ocean!
Any delay beyond 48 hours may be caused by the company's internal accounting department to process the transaction, assuming the company is honest.
Of course, if it was a sham transaction and the idea was to send you shoddy merchandise at a high price, they may not want to refund you at all, and thereby just bought themselves 3 weeks of you not calling them to complain!
Hi Klein, It was purchased using a debit card. When I contacted my bank they said it could take up to 20 days to process and show up. Can my bank actually see if a transaction is coming in before its posted to my account?
And Yes! I considered that too. They might be taking me for a ride
The Visa and Mastercard systems can "see" a transaction almost instantly. I've charge items online and called to cancel the transaction 30 minutes later and the credit card company had a record of the transaction already.
Hmm, Why did the company and my bank tell me it could take up to 20 days?
A transaction on MC or Visa will not post or clear your actual account for 24 to 48 hours, but the transaction itself will be in the system.
Correct, But 20 days? why are both parties telling me that
The bank may take extra time to process and post to your account. This is NOT the same as the transaction being in the V/MC network immediately.
Is 20 days reasonable
That's a processing issue outside of MC/V systems
Seems quite long. It takes a check overnight to clear.
Even across the country
Remember that the transactions all must go through the Visa or MasterCard network.
THEN it goes to the bank
If the bank is small, it might clear through a larger bank before being posted to the local bank
The debit card is not directly linked to the source bank. Transactions go through several levels (where each party takes a cut of the purchases!)
I think 3-5 days is reasonable. Anything beyond that is the banks making money off the float.
Hmm. Well I emailed my bank asking them if they could see the transaction
Nonetheless, check with the card company to see if the other other initiated the transaction. That will show up the same day.
Can I call visa and ask?>
Or should i go through my local bank
Call the number on the back of your card.