Transactions are instantaneous when they’re taking your money and yet…

[Basil]

I recently purchased some plastic containers at the container store online but later before they had shipped, I found some other containers that I liked better. So, I canceled my first order and ordered the other containers.

When I purchased the containers initially, of course the transaction was instantaneous. Yet for some reason when you cancel the order in the transaction is the other way. I got an email saying it would take 3 to 5 business days to get my refund.

Why is it that an electronic transfer of funds is instantaneous when you’re buying something but takes several days when you’re seeking a refund? It’s a rhetorical question of course

 

[NutmegCT]

Not as rhetorical as you may think!

If the seller gets the $ instantly, the seller gets interest on it more or less instantly.

But if the seller takes a few days to refund the $, they continue getting interest as long as the $ remains in the seller's account.

(I remember when refunds were often described by the seller as "May take up to six weeks for refund".

oy

 

[Basil]

But if the seller takes a few days to refund the $, they continue getting interest as long as the $ remains in the seller's account.

That's WHY I said it was a rhetorical question.

 

[JPSmit]

In a separate by related matter, my wife ordered a couple of garments from Amazon - They arrive and don't fit. I started to process the return only to discover that according to Amazon they haven't arrived yet so can't be returned.

 

[mikephillips]

Just be happy that they have to give the money back if they take returns. I suspect most would prefer to take money, provide nothing and keep the cash as a way to eliminate their expenses if they could.

 

[bobhustead]

A lot of consumers are about as bad. In Everglades City our post office service absolutely stinks (the staff are great; the upstream system is bad). For many months, the P.O. did not log on the computerized system that items had been delivered, when they in fact had. People were getting their stuff and refunds during this period.
Bob

 

[Gliderman8]

A lot of consumers are about as bad. In Everglades City our post office service absolutely stinks (the staff are great; the upstream system is bad). For many months, the P.O. did not log on the computerized system that items had been delivered, when they in fact had. People were getting their stuff and refunds during this period.
Bob

A win, win