If FASO has processed a refund, a credit to the credit card we have on file, please understand that FASO has no control over the time frame involved for adding the funds back to your credit card.
Credit Card refunds can take anywhere from two to 30 days before they are complete.
This is due to the number of steps involved in the refund process. When a refund is initiated, the seller (us) requests a refund by beginning a new transaction request on the credit card network. The card company must receive this information, check it against your purchase history, confirm the merchant's request, clear the refund with its bank and transfer the credit to your account. The credit card's billing department must then issue a statement that shows the refund as a credit, which serves as the final step in the process. Each step is an opportunity for delays due to human or computer error, or due to waiting for a billing cycle to elapse.
According to the TaxAct website, credit card refunds can take anywhere from two to 30 days before they are complete. The first 24 to 48 hours of this period involve the initial refund with the credit card company. But credit card companies use major banks to supply the funds they lend to cardholders to make purchases, which means that the credit card's policies as well as the bank's policies can delay the refund.
Please contact your merchant provider if you have any concerns about their time frame.
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