Credit card refund is divided into two situations: refund on the day of purchase and refund after purchase. If the consumer gives a refund on the day of purchase, under normal circumstances, it can be refunded smoothly on the same day, and it will not exceed the next day at the latest.
If the refund occurs after the purchase date, it usually takes 7- 15 days for the refund to be returned. In addition, it should be noted that the refund received before the billing date can offset the current arrears; Refunds received after the bill date cannot be regarded as current repayment. Cardholders need to repay according to the amount owed by the current bill, and this refund can only be recorded in the next bill. Generally speaking, the refund after the bill date cannot be counted as the current repayment, which is the common practice of banks. At present, the default practice of most banks is that the refund can be used to offset the next consumption.
If the consumer returns the goods after swiping the credit card, the payment can only be directly refunded to the credit card, and most banks need about half a month to get the refund, and some even take longer. For example, China Bank or some local banks need ten working days to return the money to the credit card account; ICBC needs about 15 working days; CCB can generally complete the refund process within 3- 15 working days; China Merchants Bank only needs 3 working days.