Sometimes we buy something on impulse that we just end up not having a space for and need to return it. Other times an item is not what you expected, or it is damaged in some way. Whatever the reason, a store’s return/refund policy makes it possible for us to get our hard-earned money back.
IKEA’s refund policy is no different. Keep scrolling to find out just how long you will have to wait to get your money back.
Refunds are given in the same form as the initial payment. Cash and gift card refunds are immediate. Credit and debit card refunds can be immediate but are more likely to take longer. Debit card refunds usually take 3 working days. Credit card refunds can take 3-10 working days.
Refunds Issued on Return of the Item
If you are returning an item, you are likely to get a full refund on your purchase, depending on a few factors.
Firstly, the employees will need to check the condition of the item. If it is slightly damaged or unusable, then you won’t qualify for the refund.
This does not apply if you buy an item and discover damage when it is opened. Such damage is IKEA’s responsibility.
You also need to keep in mind that if the item has been personalized, then it won’t be accepted for a return and you will not get a refund.
It is also important to note that IKEA will refund you in the original form of payment made for the item. For instance, if you bought a chair in cash, you’ll receive the refund in cash. If you bought it via a gift card then you will receive another gift card with the credited amount.
Cash and Gift Cards Received Immediately
When purchasing an item with cash or with an IKEA gift card, you will not have to wait very long to get your money back.
IKEA will simply give you the amount necessary in cash from the kitty in their cash register. In a matter of moments, you will have the notes right in your hand.
When bought with a gift card, you will also leave the store the same day with a credited card. The employee will simply need to update the credit amount on it via their system.
Card Refunds Can Take a Few Days
If the payment was made with a card, whether debit or credit, you won’t necessarily get your money right there and then.
This is because it is a slightly more complicated process than simply opening up a cash register and handing over the correct amount. The employee will need to access the company’s banking system and authorize a refund to the correct account.
IKEA states that this can occur immediately (if you’re lucky) but you should also be prepared for the money to take up to three days to reflect. This can be due to a number of reasons.
Firstly, IKEA can simply not authorize the payment right there and then. Perhaps it is a process that only happens once a day. However, it is more likely that the delay is because the bank will need time to authorize the refund on their side.
If the refund was made on a weekend, then you can expect it to take up to three working days as banking transactions often take place during the week.
It Can Take Longer
Sometimes, you may be part of the unlucky and only get your refund within ten business days. This is likely because you paid with a credit card. This is a longer process as you technically didn’t pay IKEA directly.
Therefore, it may take IKEA a while to approve the credit refund to your credit account so that the specific credit provider can process the refund, and then return your credited amount. Having this added ‘middle man’ delays the process and means you will wait longer to get your money back.
Legally, the maximum amount of time that a refund can take depends on your region’s laws. Unfortunately, in the US, there are no laws governing the time period for a refund.
Nevertheless, as a company, it would be in their best interest to make sure the refunds are processed in as little time as possible.
Another factor that impacts the length of time you will need to wait before receiving your refund is whether you brought the item into IKEA yourself, or you chose to get customer service to collect the item from your home.
Items brought to the store will take the normal amount of time indicated above, as the employees will process it there and then.
However, collected items work differently. If the collection driver has to make numerous stops or has to travel long distances, then the time that your item arrives back at the store will impact your refund date.
It will take three working days for your account to be refunded from the time the goods arrive in the store.
You won’t be able to get a cash refund this way unless you still come into the store.
How to Follow up on a Refund
If your refund is taking longer than normal, or you just want to keep track of its progress, you can follow up with IKEA to determine the state of the transaction.
You can do this by checking in on your bank account to see if the money has entered it in the past few days (sometimes banks fail to send you a notification of money coming in).
Alternatively, you can simply call the store where your purchase was made and ask an employee to update you.
You will likely need to provide them with the same details that were needed to make the refund initially—your full name, contact details, banking details and sometimes even social security number.