Budget car rwntal: Delayed reversal of the holding deposit

I returned a rental car on 26 November and to date is still awaiting my holding deposit to be released. How long does it take for a holding deposit to be released as I could not see any information related to this in the rental contract (Rental Agreement Number: ***). After struggling to get through to the contact number we were informed that the holding deposit will be released in 7 - 14 days. Is this the normal process?