7 to 10 Business Days {do not tolerate!}

7 to 10 Business Days {do not tolerate!}

Have you ever noticed how when you make a purchase – that the money comes out of YOUR account instantly? However, when you want a refund, they say it will take “7 to 10 business days” for the money to be given back to you?

Do not tolerate that business practice ever.

I’ll add that it’s nice that companies like Amazon.com process the refund most often before they even get the product back (i.e., as long as the tracking number is en route). That’s great – but it’s a big, monopolistic company, right?

Hoboken will always have water main breaks!

Why do some companies have 7 to 10 business day refund policies?

An ordinary person would suggest, “well, they’re just verifying everything and want to be sure the it is handled properly.” Which is fair – if the rest of the world operated on the same terms.

While a critical thinker would say, “NO. They’re just holding the money so they can skim interest payments while the cash is in the bank!”

I’d lean towards the latter.

They hold your money as a way of generating revenue – no matter how small per transaction. This “cash flow” helps their business, regardless of how minute it may be. As they say “it all adds up in the end,” and may help them financially.

Even digital purchases with no phsyical goods?

This is what bugs me the most. I had to do an exchange for a software download – that required ZERO physical “inventory” process. The company still said it would take 7 to 10 business days (euphemism for “two weeks”) for my money to get returned to me.

I can understand a company that sells physical goods – they want to ensure the product was returned in good working order. But a software company? Come on! Unacceptable.

Keep this in mind as you traverse the digital landcape – and the awful policies many companies have. Ask who benefits (Cui Bono?) for such customer-unfriendly programs.

And you ask why Amazon is so hated. Well, they remove that quagmire from the equation.

If a small business wants to keep up – and not let Amazon steam-roll them over – they need to pick up their game – and focus on the consumer.

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