FAQs
The standard timeframe for refunds is 5-7 working days. However, the specific refund time varies depending on the mode of payment used. For credit/debit cards, it can take 5-10 days, for net banking it's 2 days, for wallets it's instant, and for UPI it's 2-7 days.
How long does a failed payment take to return? ›
Refunds to debit cards tend to take between two and five business days, but it can take up to 30 days depending on the company issuing the refund.
How long does it take to get a refund back in your bank account? ›
Depending on the issuing bank or credit card company, it can take an average of 1-7 business days for these funds to show in their account, based on the issuer's settlement process. Credit card accounts typically take longer to display refunded transactions than debit card accounts.
How long does a cancelled transaction take to refund? ›
A voided transaction will typically disappear from a customer's credit/debit account statement within 24 hours. A refund, however, may take 3 to 5 business days to appear on a customer's credit/debit account statement. Some card-issuing banks could take 2 to 3 days to remove the pending charge.
What happens if an online transaction failed but money debited? ›
However if the money was deducted for such a transaction although the website showed it as failed, do not worry, it will be refunded back automatically by the bank.
How do I get my money back from a failed online transaction? ›
To request a refund, contact the merchant. If money has debited from your account but the merchant says they didn't receive the credit or refund, contact your bank to file a chargeback. You can file a chargeback on the bank's official website or by visiting the physical bank branch.
Do refunds go through on weekends? ›
The oly way you may get a payment on a Saturday is if the refund was made on a Friday and the money is processed on the very next day. Other than that, refunds are never made to financial institutions on weekends of holidays.
Does a refund go straight to your bank account? ›
This depends on how soon the merchant processes your refund. Once a refund has been processed, it should take an average of 1-3 working days to reach your account. In some cases it may take up to a week.
Why do refunds take longer than payments? ›
Why does a Refund take Time to Reach Customers? Three main parties are involved in a successful payment refund – the payment gateway, the merchant's bank, and the customer's bank. Refunds take longer than transactions because they have to go through an elaborate process and involve the combined work of various systems.
How long does a failed transaction stay pending? ›
How long do pending transactions take to clear? Many pending charges disappear in around 5 days or less. Though some institutions may have a longer period. It ultimately depends on the type of transaction, the processor settings for the credit card program, and what's stated in your agreement.
Once a refund has been made, it is permanent. The credit card or direct debit account will need to be charged again if the transaction was refunded by mistake.
What happens to pending transactions when a debit card is cancelled? ›
No. Any pending transactions that have already received authorization will be processed and paid.
How long does it take for a refund to appear on a debit card? ›
Most refunds typically take 5-7 business days (excluding weekends and holidays) to appear in your account once the merchant has issued the refund. If you have questions about a refund you should have received, you should first check with the merchant.
How long does a return take to go back on your card? ›
How long does a credit card refund take? A credit card refund can take between five and 14 business days to appear on your card statement or balance. This is because the transaction goes through a credit card processing service and must be completed before your issuer can credit your account for the purchase.
How long does it take next to refund a debit card? ›
We process refunds within 1 working day of receiving the return, but please allow the time shown in the table below for your payment provider to make the funds available to you.
Can I get a refund on my debit card? ›
The chargeback process lets you ask your bank to refund a payment on your debit card when a purchase has gone wrong. You should contact the seller first, as you cannot start a chargeback claim unless you have done this.