Sellers can automatically remove money from your account, but when it comes to refunding funds or even transferring funds from a service such as PayPal take 5 or more days?
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Just because the money is removed from your account right away when you make a purchase doesn’t mean it’s in the business’ account right away. Like you, they have to wait a few days for that money to work its way through the banking system.
When a transaction happens (in either direction), the source bank will immediately move the money from the source account to a holding account. They’ll do a large batch transaction at some point later with other banks, transferring money between them and indicating the destination accounts. That money lands in the destination bank’s holding account, where it will wait for another process to put it into the proper accounts.
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