When you exchange an item with MAAP we don't charge you for the item you are exchanging, although a glance at your bank transactions may appear that way.
We dispatch your replacement item the moment you request it - even if you don't get around to sending the one you don't want back to us straight away.
Because we're able to send the replacement before you send the original back, we put a 'hold' on your card until you put the returning item in the post, which is then released when it's sent back.
It's not a charge, so you won't see it refunded - it will just disappear from your pending transactions when the item is sent back.