No read the full thread, only up to page 5… just wanted to add that I get it OP. Years ago, I had a Tesco home shop ordered, and it was close to Xmas so a pretty big one. We woke up to a blanket of thick snow the day it was due to be delivered. A few hours before delivery, I had a phone call to say they weren’t delivering as couldn’t get out. Fine, not a problem as I pretty much expected it with the weather. They then went on to say that I’d get the refund in 4-5 working days. Given it was just shy of £200 and about 2 weeks before Xmas, we simply didn’t have any spare money to go out and buy more food til the refund came through. But what pissed me off the most, was that Tesco only take the payment, at the store, on the morning/day of the delivery. At that point they KNEW about the weather, and likely should have realised they weren’t going anywhere, certainly not a town 12 miles away across some treacherous country roads! They should never have taken the payment in the first place.
I posted on their Facebook page about it to suggest in future they consider not taking payments til they know they’ll be delivering in adverse weather - I was roasted by people online telling me how I should budget better to account for things like this, etc. Given I’m with a rare company that still pays weekly, as was my husband who worked at the same business, it’s pretty hard to find an extra couple of hundred pounds in a week when you only being home around £300 each, and £200 each of that goes into the house account for standard bills!
The system is crap. There should be something that if a refund is processed within day 15 mins of the transaction for the full amount, the original transaction should simply get cancelled. Nothing actually leaves the account that way, except for the bank “reserving” the funds for 15 mins. That would allow for situations like the OP’s where a mistake at the POS happened. I don’t believe for a second the banks can’t do this - I think them holding the refund money tor several days gives them a huge amount of money to play with across all transactions, which makes them a lot more money overall.