Oculus says they will refund many Rift content purchases made on their store “for any reason if the request is made within fourteen days of the purchase date and you have engaged with the content for less than two hours.”
The new automated refund system puts the Rift side of the Oculus Store on par with Steam’s refund policy, which also includes a 14 day, 2 hour trial period.
For Rift and Gear VR, its carte blanche refund policy includes games, apps and many experiences. Not included however is movies, bundles, content purchased as part of a bundle, or content downloaded or purchased inside of apps like DLC and in-app purchases.
Oculus says refunds typically take “no more than five days to review, verify, and process refund requests,” although it could admittedly take longer for the cash to hit your original purchase method. Also important to note is that returns have to be made via the original device you bought the content through, meaning if you share your password with a Rift/Gear VR-owning friend, they won’t be able to request a refund on your behalf.