How long to refund a credit card?

  VNAM75 19:35 15 Aug 2008

I recently had my car engine tuned by a company. They came to the house to carry out the work. I paid by credit card and payment was processed by him phoning through the number to someone back at the company.

But after a few days there was no noticeable improvement in performance so I decided to request a full refund under their 14 day guarantee. He said he refunded my credit card on tuesday and said it could take up to 30 days for my card issuer to receive/credit my account.

30 days seems too long to me. Every electronic money transfer or refund I've had to/from my accounts including credit cards has taken a maximum of 5 working days, with nearly all of them within 3 days. Is there any way of checking with my bank to see if they received any instruction on tuesday/wednesday to credit my account?

If it turns out they haven't refunded my card, should I ask the bank to contact the company and would they then do something called a chargeback?

  Al94 19:38 15 Aug 2008

30 days is normal.

  interzone55 19:54 15 Aug 2008

It depends how they process their payments.

If they've got a full merchant account with Visa / Mastercard or whatever you will probably have a refund within 5 days - this is the same length of time it takes the money to come off your card.

On the other hand, if they use a third party payment company, like WorldPay, then the refund will take up to 30 days, because WorldPay will keep hold of the money as long as possible to gain interest on it...

  VNAM75 20:22 15 Aug 2008

I'm not bothered about 30 days but I want to check they have sent the money. So I dont want to wait 30 days to pass only to find the payment was never sent

  spuds 20:59 15 Aug 2008

Its not a case of you not wanting, its more of a case of complying with consumer law and banking methods. I know that may sound harsh, but thats the real world of commerce. Remember also, that when you make payments by credit card, you are initially using the credit cards money, and not your own.

If you have on-line credit card and banking facilities, then you should be able to run daily account checks on payments in or out.

Strangely enough, I have paid my credit card company this morning, and some surprising information as come to light. When I pay the credit card company, their next months statement usually shows that the payments took 2 days from me sending to them receiving. This morning after I made a payment, I checked my personal bank account, and this showed instant payment had been drawn. As I had to go to the bank who holds my account, I checked this 'instant payment' with the bank cashier, who seemingly wasn't able to trace this mornings payment or transaction on his terminal screen!.

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