How Long Does A Debit Card Refund Take?

Have you ever had to make a return on a debit card and wanted to know how long does a debit card refund take?

This article will discuss debit card refunds and how long they take to process.

How Long Do Returns Take To Process On Debit Cards?
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Maybe you have never done a debit card return before and aren’t sure about the process. Or are you curious and want to know more?

No matter what your question is, we have the answer for you! Finding out how long you have to wait for your debit card refund can be tricky.

You head online to find out more but are met with conflicting and contradicting information.

Frustrated and disappointed, you start to wonder if you will ever know how long the money will take to return.

Will you be sitting around day after day, checking your statement waiting? Is that any way to live? Well, no more!

Today, we are here with the answers for you! Keep reading to find out how long refunds take to process on debit cards and everything else you need to know.

What Are Refunds On Debit Cards?

Before we dive into today’s article, let’s have a quick recap for those that need it.

Refunds on your debit cards are when money is returned to your card and your account. This is usually a refund for goods or services for which you have returned.

You might have purchased a sweater that doesn’t fit and returned it to the store.

They will issue you a full refund for your item on your original payment method, your debit card.

The merchant (the store) will then issue the refund to your bank for them to process and return the money to your account.

On your statement, the refund will appear as money in your account with the merchant’s name next to the amount.

The same applies if you have a refund for poor service, a canceled flight, or any other refund!

Whether you get a full refund depends on the merchant’s return policy.

Typically, you will receive a full refund if the goods or service is faulty, but make sure you check any returns policy before asking for a return, so you know your rights!

Now that we have established what a refund on your debit card is let’s move on to see how long you need to wait for the refund!

How Long Does A Debit Card Refund Take?

How Long Do Returns Take To Process On Debit Cards?
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Let’s get straight into it! Typically, a refund is processed and issued within 7 to 10 business days.

This time limit does not include any public holidays or weekends, so it could take up to two weeks, depending on when you ask for the return!

The merchant will process the return in 7 to 10 days after you ask for the return on their end.

This involves them finding your purchase and issuing a refund to your debit card.

The refund will need to be approved by the merchant, in line with their return policy, before being sent to your bank.

The bank will then process the information and add the correct funds back to your account.

This process usually involves your bank, the merchant, and their financial institution working together to get the money back in your account.

That’s a lot of departments that your money needs to go through before it is back in your account!

You can expect the money to be returned to your account within a week, although sometimes it will take up to 10 business days.

Remember, this does not include weekends or public holidays. So if you request a refund on a Friday, the process usually won’t begin until Monday!

Why Do Refunds On Debit Cards Take So Long?

So why do refunds take so long on your debit card? Well, you are given a time frame of 7 to 10 business days to allow everyone involved time to process your refund.

The likelihood is that your refund isn’t the only one the merchant and your bank are dealing with, and other refunds requested before yours will be dealt with first.

So if there is a backlog of refunds, it will take a few days to deal with yours!

Another reason why returns take a while on debit cards is that there are lots of people whose refunds need to be processed! First, you need to contact the merchant.

The merchant will approve your refund based on their returns policy.

Then, the refund will be passed to the relevant department, where they will contact their financial institution to request the funds.

The funds are then sent to your bank for them to process. They will then reissue the money to your debit card, including a reference to the merchant the money has come from.

This involves several people and departments, which might have delays, staffing issues, or slow systems!

The process isn’t as quick as one person depositing the money directly into your bank account.

It can be frustrating to wait for your money to be refunded, but rest assured the money will be returned to you!

When you request the refund, the merchant should give you a timeline of when to expect the money in your account.

Final Thoughts

And there you have it; a debit card refund will be processed within 7 to 10 business days.

This allows the merchant time to process the refund before sending it to your bank for them to deposit it into your account.

While it can take a little while, the money will be refunded to you!

Just be sure to check the return policy with the merchant before asking for a refund so you know your rights!

Andre Flowers
Andre Flowers

Hello, my name is Andre Flowers and I have been a Licensed Real Estate Professional for over 24 years. I also carry several certifications, including: Certified Distressed Property Expert, Certified Global Business Professional, Certified Credit Repair Specialist.

As a current Mortgage Underwriter with 15 years of experience, I have seen my fair share of money-related issues. Whether that be high levels of debt, not enough credit, or simply a lack of funds - I’ve had clients who fit into these categories.

Here I will share tips, tricks, and experiences on how you can get yourself back in control of your finances.

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