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If the refund is being processed to return to the original payment form and therefore needing to travel through sometimes several banks before the money reaches the buyer (like what happened in the threads you said you saw), it can take up to 7 days, or up to 14 in the case of international transations.
You've said you're doing the former.
https://support.steampowered.com/kb_article.php?ref=4873-QOSK-5126#where
"Where is my refund? My refund was approved, but it’s been more than 7 days."
Approved refunds can take up to 7 days to appear in your account – however, refunds to international payment methods may take longer. If your refund hasn’t appeared after 7 days, please contact your bank directly and ask about pending refunds on your account.
Please note: When a refund request is approved within 24 hours of the purchase, the original transaction is cancelled and the charge drops off your bank statement. In this case, you will not see a credit on your account. This process can take up to 10 days – wait time for international payment methods may vary.
Still can’t find your refund? Please review your recent purchase history; you may have used the funds to make another purchase!