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New Member
Posts: 2
Registered: ‎10-24-2020
Accepted Solution

Time to Process a Refund

Why does it take Best Buy 7-days to process a refund on a debit card? When I return an item at Target, Home Depot, or Walmart I get the money back in a matter of hours. And yet with Best Buy it takes days? 7 days is legally the longest a merchant can hold onto a refund, which is exactly how long it takes Best Buy to "process" a refund. Is this a sheer coincidence or does Best But simply hold onto the money as long as legally possible to gain the interest from there financial institution?
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Valued Contributor
Posts: 1,872
Registered: ‎02-07-2011

Re: Time to Process a Refund

How do you get any of those places to do it in hours?

All of those listed batch process cards overnight, including bestbuy as far as I know. Then it's up to the cc card processor and then the bank. My credit union does it within a day or 2 if it's not on the weekend and my wells Fargo account usually takes the full 7 days.