Debit Card Payment/refund

[fruitsalad]

Why, when you pay for something on your debit card, its instant, but when you get a refund its takes days

[Old_Geezer]

Because someone is making a profit on your money without paying you interest.

[KARL]

Administrative processes take time, including ensuring your security in the transaction (your interest is their interest) - which amounts to the same as old_Geezer has already said.

[ubasses]

When you see the immediate debit, the retailer has not actually received the money. That will not be done until they submit their transactions when they are batched up, usually at close of business.
So when a credit is due, the Bank do not know it is coming and cannot credit you until it is actually received. Depending on when the Company completes the process in reverse. So they might not receive the original payment for a couple of days and the bank will not receive the refund for a coupe of days.

[jennyjoan]

I think it's great being instant cos then you know how much you have left in your bank account

[margarettom]

Actually, for me it's not instant. I have never had a debit payment taken out of my bank account until the next day. ( I always check my bank statements).