online product selling websites like Amazon or Flipkart, why do they take such a long time, generally, 6 to 8 days for refunding the money?
Whenever a person cancels a prepaid order on any ecommerce portal, the company raises a request with your bank for refunding back the amount (depending upon whether you used your debit/credit card for making the transaction or netbanking).
The moment the company makes the request and receives a transaction ID, the matter is out of their hands and with the bank. It is the bank that takes 6-7 days to process the refund.
Net banking refunds are generally faster than card refunds.
Also, this is the reason why refund in points/credits (Myntra, Jabong, etc.) is much faster and usually happens the same day.
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