I don't know exactly how the systems work in banks but it always get a me wondering... if I walk into a shop or order something online and pay, the money transfers instantly and leaves my bank. Yet when a refund us required it's usually 3-5 working days dependent on the bank. So I presume the banks are the ones who cause the delays and not those issuing a refund.
Or does it go both ways? When I order online/in a shop etc. does it take 3-5 days for the seller to receive the money whilst the money floats around somewhere mysteriously?
The argument against that is with PayPal. PayPal withdrew from my bank immediately to pay another company. The refund was made to PayPal and I'm back waiting for it to hit the funding card within, yep you guessed it, 3 - 5 working days!
AIBU to think technology has advances and the banks are just happy to not invest in speeding up their systems?!!