conmankiller:

TD --- Exactly my point, that is why they don't want to improve the system, because it would be detrimental to their interests.!!!

In the case of credit card refunds, why should you pay daily interest on a purchase that has been refunded, where the delay is down to a dinosaur system, or more importantly their reluctance to improve it. ?

 The answers you seek are the questions you ask.

TD --- Exactly my point, that is why they don't want to improve the system, because it would be detrimental to their interests.!!!

In the case of credit card refunds, why should you pay daily interest on a purchase that has been refunded, where the delay is down to a dinosaur system, or more importantly their reluctance to improve it. ?

conmankiller:

Further steps should also be taken by credit cards, why should a refund not be applied back to your account instantly instead of taking days & days, when the original amount was deducted on the day of the transaction. ???

The technology is there, they just don't want to use it. !!!

They could use it, but then how could they make interest on what is yours?

Take note - 

"The new 2-4-6 cheque clearance rules mean that payment by cheque is not guaranteed until the seventh working day after a cheque has been presented to a bank for payment. This means that even if a payment looks to have cleared an account on day 4, the money is not safe until close of business on day six"

http://www.channelregister.co.uk/2007/11/28/cheque_clearance_changes/

This small improvement is a step in the right direction to the current, "prehistoric" practice, but these steps should have been normal procedure years ago and the changes do not go far enough, IMO.

Cheques should be cleared as fast as electronically possible, and this could be done if there was the will to impove the system even further to bring the archaic procedure up to date by the banks.

Further steps should also be taken by credit cards, why should a refund not be applied back to your account instantly instead of taking days & days, when the original amount was deducted on the day of the transaction. ???

The technology is there, they just don't want to use it. !!!