In article , says...

...if you pay for something by credit card, it is deducted almost
instantaneously from your available credit limit, and if someone
deposits a check you wrote to them, it usually clears right at midnight,
but if you have a refund coming to you electronically, it takes days,
sometimes many days, for the funds to be available to you:

To wit:


Hello,

We're writing to let you know we processed your refund of $63.96 for
your Order XXXXXXX

This refund is for the following item(s):

Item Refund: $63.96

We'll apply your refund to the following payment method(s):

Visa Credit Card: $63.96

We've processed a refund for the above order in the amount of $63.96.
The refund should appear on your account in *2-3 days* if issued to a
credit card.

Refunds issued to a bank account typically take *7-10 days* to reflect
on the account balance.

Have questions about our refund policy?
Visit our Help section for more information:

http://www.amazon.com/refunds

We look forward to seeing you again soon.


Must be a lot of money to be made off the float, eh?

It is all about the float. When paper checks were the normal method for getting money into
and out of accounts there was the floating of the check until it cleared or a certain time
period completed. Without the ability to float the checks they have taken to floating all
deposits and withdrawls. The bank will get its .02 cents regardless as to how much technology
advances.