When will a consumer receive their ACH refund?
The system may only return monies to a consumer’s bank account for ACH payment methods. It takes approximately three (3) business days for a consumer to receive their refund which was processed through the system.
The funding time-frame; Example of a refund processed on a Tuesday:
Refund Date (Date submitted) = 7/10 Tuesday
Effective Entry Date (Next Business Date) =7/11 Wednesday
Refund Funded (Two business days after the Effective Entry Date) = 7/13 Friday
Customer Settled (One day after the Refund Funded Date) = 7/14 Saturday, or next business day 7/16 Monday.