Why does it take retailers days to credit you back when you return an item?

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Whenever you return something to a retailer it can take 3-4 business days to get the credit on your account yet they take out the money when you buy something almost instantly. Never understood this.

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Both them and visa like to hang onto the money.

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Both them and visa like to hang onto the money.

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Are you talking about bring something back to Walmart, or shipping back a return?

I had the same thought with deposits at the bank versus checks/debits at a store. If a store can run your check and debit card and immediately debit your account, why the frick does it take so long for a bank to get a check you deposit to credit your account EVEN when the check is drawn on the same bank?

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why the frick does it take so long for a bank to get a check you deposit to credit your account EVEN when the check is drawn on the same bank?

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since deregulation, banks are as sleazy as some of the traditional longstanding sleazy businesses, they do hang on to your money because they can make money with it even in as little as a 24 hr. period, but the new sleazy excuse is to blame it on the Patriot act and hold relatively small checks for up to ten days after deposited into your account, my bank tells me anything over $1100, regardless of the type of check is subject to this

Even when using your debit card the money isn't technically gone that second. If you log into your bank account the money is showed as debit pending, or some variance. It doesn't post to your account until the bank rolls its day, for Chase 3am CST M-F. This is how irresponsible people get suckered into overdrafting their account.

Case in point, go to a resturant, they charge your card $75, you leave a $25 tip. You check your account when you get home, you see the $75 charge, but don't see it show as $100 until your bank posts.

As already state refunds are help up by the bank, not the store refunding the money.

It's a credit company issue. They're more apt to take your money than give it back.

Returning things is for poors and trash. If you don't like something just throw it away.

So now that all of the paranoid idiots have taken to their pulpits...

It takes a couple of days for the retailer to get their money as well. They mark it on your account immediately as a pending transaction and then it goes through a few days later.

Bank haters are the worst informed group of people I've ever seen. They probably have house parties with Michael brown supporters.