Am I ever going to be refunded for a product not delivered to me?

There was no stock of one of the items I had ordered. I then asked that I receive a refund for what I had paid for the product. I was told this would take 7 days. It has now been about 2 months and I have yet to receive the refund. I was told that the funds were released yesterday, but the funds have till not hit my bank account.