Why do some business are quick to take your money but slow on refunds
In: Economics
When it comes to things like credit cards, it’s because of the processing time of the financial institution. When you use a credit card at a store the store doesn’t actually get the money right then. It won’t go into their account for a few days usually. So when you ask for a refund, the store is still processing the transaction the same way, but you have to deal with a similar “processing period” that they did when you sent them the money.
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