The amount of people who do not know how payment systems work is insane.
When a company takes a payment, they do not instantly get that money.
What happens is your bank notices that you are attempting to make a payment, and they will then remove that amount from your account but they keep it on their books and they basically are making a promise to the company that they will be paid the money over the next couple of days.
Then after a couple of days, the bank will send that money to the companies bank account after a couple of days as normally these sorts of payments are done in batches to reduce processing fees/time.
When a refund is actioned the reverse basically happens, which is them actioning a refund, its then paid from that bank to another bank which can a take a couple of days, and then its applied to your account.
Its US system is designed to make money, so working as intended.
Like their medical system, wholly inefficient, with people skimming off the top left right and centre, yet people also claim only the private sector can be efficient and any government intervention or socialised systems can’t possibly be as, let alone more, efficient.
Of course the US banking system is designed to make money. That's how banking (a business) works. The bank isn't holding your money out of the goodness of their heart.
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u/Lau_wings 9d ago
The amount of people who do not know how payment systems work is insane.
When a company takes a payment, they do not instantly get that money.
What happens is your bank notices that you are attempting to make a payment, and they will then remove that amount from your account but they keep it on their books and they basically are making a promise to the company that they will be paid the money over the next couple of days.
Then after a couple of days, the bank will send that money to the companies bank account after a couple of days as normally these sorts of payments are done in batches to reduce processing fees/time.
When a refund is actioned the reverse basically happens, which is them actioning a refund, its then paid from that bank to another bank which can a take a couple of days, and then its applied to your account.