What is an acceptable time period for a refund?
I setting up a marketplace style transaction system and I was wondering what an acceptable time period for refunds would be, On one hand it would be nice to get the money to them immediately on the other hand I would like to handle refunds with ease. What is a common time period for refunds?
3 Answers
Put yourself in the user's shoes.
How important is customer service to you organization? If its the most important thing then refunds should be as immediate as possible. If there are other things that are more important then add more time accordingly.
As a user of any service I would expect a refund within 24 hours.
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Yeah -- a company refunds me money immediately without question. They'll earn my respect. If I have to fight / send continuous reminders for it... no amount of apologies will make it up. Every refund is an opportunity to astonish your customers. – Sunil 13 years ago
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At least email the customer within 24 hours to acknowledged the refund. – Mike Nereson 13 years ago
If I were a customer, I would expect an acknowledgment that a refund would be issued within 24-48 hours and the actual refund coming within a week at the latest. Communication is key.
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+1 for the value of the communications. the time is less important than acknowledgement immediately, setting the expectation, and then meeting it. – Joseph Barisonzi 13 years ago
