How long does it take for a merchant (like walmart) to take your money? Seconds.
How long does it take for a merchant to give your money back? Days, maybe even a week.
I kinda wanna know why ACH is a difference too, but really just want my refund back and where it is 😂
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ACH isn’t guaranteed money.
Think of it a bit like a check. If I gave you a check for 100 dollars, you wouldn’t give me 100 in cash, the same day. Because if the check isn’t valid, you are out 100 bucks.
ACH is the same way. I can pull 100 bucks from your account via ACH, but I don’t know that its valid for a few days. So if you request a refund, I’m not going to issue a refund to you until the original ACH has cleared. And ACH transactions are also just slow. Paying an ACH same day is possible, but its often more expensive, and more difficult, so it’s just not done when not 100% necessary.
And even if we are talking about something like a credit card. You see it pulled from your account immediately, but it might take a day or two for the merchant to see the funds. If he issues a refund immediately, it will take you a few days to see the refund. They system is just slow.
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