Refunds getting faster?

[jzw95]

I think the speed with which refunds show up is entirely down to how quickly the retailer submits them, but I could be wrong.

@welshguy99

They come with a note that says “Delayed from ***”, where *** I assume is the date that they were actually received by Monzo.

I think the delayed from date is when the refund was ‘issued’, but but Monzo doesn’t actually receive that information until later when they get a presentments file (they don’t get a real-time message about it like they do with debits).

…

Just found the source of my vague information. The great RichardR explained the vagaries of refunds here (seems there are a few different ways they can happen):

Contactless refund not working

We put it in your feed within minutes of us receiving and processing it from Mastercard. You can think of refunds as reverse collections/presentments so are subject to a delay of very roughly 1–3 banking days from the time the merchant sends it to the time it arrives with us in a Mastercard clearing file. In many (but not all) cases, we will receive the “till time” for a payment. This is generally the time that the refund was issued at the till. When this happens, the service will attempt to s…