Why Does It Take 3 to 5 Business Days To Receive A Refund?

[gccradioscience]

Why does it take 3 to 5 business days to receive a refund?    My refund is still pending for $7.95, and they said it will take 3 to 5 business days to receive a refund in my Pay Pal account.   I don't have all week long to receive an amount for less than $10.00.    What's the hold up?     

[sharpiemarker]

@gccradioscience 

Because if the seller doesn't have the funds in their PayPal balance, the refund has to be funded by their bank account which will take time for funds to transfer. Bank payments don't fly through the wifi, they are processed in batches and have to go through clearing house and bank interchanges.

[swills3218]

It maybe as said the person refunding needs to get it from his bank, however more likely to me it seems, and having sopken to my bank about a delay, PAYPAL hang on to it for a bit, that is my impression, (they get a bit more interest then)   Bank says if a debit card or staright refund takes place its almost straight away into my a/c   however PP are telling me it can take 30 days !   "depending on your bank" 

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@sharpiemarker wrote:

@gccradioscience 

Because if the seller doesn't have the funds in their PayPal balance, the refund has to be funded by their bank account which will take time for funds to transfer. Bank payments don't fly through the wifi, they are processed in batches and have to go through clearing house and bank interchanges.

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[sharpiemarker]

@swills3218 

Refunds to cards may take up to 30 days. So if you used your bank debit card, it too will take up to 30 days. That is card industry standard still because statements take 30 days to be sent from credit card issuers.

Some regions do take that long if the banking technology is not as state of the art and slower methods of moving money are still being used.

[Fitch1]

Complete uter bull on 3 to 5 working days paypal are covered and should honor the refund as they all say you are covered. They are all to quick to take your money. I'm owed nearly £500 and still waiting what a complete joke you are paypal.