Does such a thing exist. I am aware that with credit cards there is protection say against a company going bust after you have paid but before you have received your goods or services. Is there ANY such or similar protection with Debit cards.
Thanks.
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Yes - possibly....see below.
tinyurl.com/aspoy5e
Last edited by: R.P. on Wed 30 Jan 13 at 17:33
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If it helps I had personal experience of this. eBay purchase went sadly wrong, paid with Paypal, which in turn was funded via Visa debit card.
Tried to get money back from bank, they didn't want to know. Tried Paypal and they were even less interested. Both took the "if it had been a credit card we would have helped, but not a debit card mate" line.
Talked to Visa who said to issue a chargeback instruction to the bank, and they would support this as Visa's reputation was on the line. Told bank that, and two days later all the money turned up in my account.
It was I think about £200.
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My partner was £600+ out of pocket on a ticket with an airline which folded, between ticket purchase and the date of the flight. Paid with a VISA debit card from her current account and ran into a brick wall on a refund. Fought it all the way through the "System", to no effect; filled in the forms on line to refer the matter to the relevant ombudsman and had a full refund within 30 days. One just has to not take no for an answer. It seems that there is a grey area but it may now be accepted that a Visa debit card has the same refund/protection rights as a credit card.
I always use a credit card, I clear the balance in full when due, but find the payment protection element and a month's "free" credit useful
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>> One just has to not take no for an answer. It seems that there
>> is a grey area but it may now be accepted that a Visa debit card
>> has the same refund/protection rights as a credit card.
The MSE link I posted below gives quite a good explanation and describes the process to go through.
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Link blocked by Comodo, what is it?
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Not blocked by Comodo here!
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I thought that if the debit card carried the Visa logo then you had the same protection as a credit card?????
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The protection that credit cards carry comes via the Consumer Credit Act so there's no protection from a debit card only through the chargeback system. Seems pretty ad-hoc.
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>> so there's no protection from a debit card only through the chargeback system.
More info on Money Saving Expert:
www.moneysavingexpert.com/shopping/visa-mastercard-chargeback
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Thanks for that useful in work that one.
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When Halifax switched to Visa for its debit card some years ago, it stated that the customer protection was not that far behind a credit card (something about charge back IIRC).
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Exactly Stuart - you have reminded me that they key phrase (used in my partner's problem, above) was "Charge back"
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You mean like what they describe in that link I posted above - it's quite a good explanation.
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Thanks so far. What infuriates me is the 2.5% surcharge on payment by a credit card. Quite a sum on something we are planning.
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>> Thanks so far. What infuriates me is the 2.5% surcharge on payment by a credit
>> card. Quite a sum on something we are planning.
Thats because the vendor has to pay it. Credit cards are not free.
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Martin,
If there's a small deposit involved as long as it's a £100.00 plus - pay it by credit card and the full amount is protected.
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Debit car chargeback typically has a very short period to clawback cash for say faulty goods.
Credit card - it can be years (IIRC) and a successful claim is still possible.
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>> Debit car chargeback typically has a very short period to clawback cash for say faulty goods.
4 months, according to the MoneySavingExpert article in that link above I posted which nobody (apart from RP) is bothering to read :)
Last edited by: Focusless on Thu 31 Jan 13 at 21:39
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You get a 3 weeks free credit after receiving the statement before paying the bill and making a big purchase the day your bill comes in gives you another month so 7 weeks "free" credit is possible, if planned.
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but what is the benefit in 7 weeks credit?
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You can spend next months pension this month...
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but then I have no money next month....
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>but then I have no money next month....
You don't need credit. You must be making a packet out of appearances in those Wonga ads.
:-)
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When booking flights/holidays if you use a credit card, the airline/tour/travel company must pay a percentage of the cost you pay as a charge. I accept that. But they then charge you for it. So far it sounds fair but they add the surcharge as a percentage on top of the full price. But they pay a percentage of the original price... so they are earning a few quid already by doing this.
And if I by online or instore for food and other stuff... I don't get charged. Although there is a fee to the store for you using a debit card. And most of the same airlines/travel companies charge for using most debit cards too. In fact it's difficult not to incur a charge.
For the few quid extra, I will pay for holidays/flights with a credit card for the extra protection. It's a small incremental cost. I shouldn't pay any extra but I think it's worth the small extra cost.
Now what was the original question....
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Credit card surcharges are illegal in many US states, including California, which is where eBay is based.
eBay.com sellers were not allowed to charge a CC surcharge, whereas at one time eBay.co.uk were! Not sure if this is still so, but eBay bought Paypal and made it compulsory for it to be offered thus forcing vendors to pay at least as much as the CC companies did with no chance of passing on the impost!
Greedy bar-stewards.
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American banks fleece their customers in many more ways than they do in the UK.
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Most people in positions of power fleece their customers in one way or another, whether it be small time stuff or international. The little chap always pays........ Come the revolution Comrade.>>>
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>> Most people in positions of power fleece their customers in one way or another, whether
>> it be small time stuff or international. The little chap always pays.
You might as well have stopped there. Revolutions are soon corrupted by greed and wickedness even when they aren't born of them.
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Excessive credit card surcharges will be banned from 6 April 2013. www.royds.com/news/new-ban-on-excessive-payment-surcharges/
Part of the "Consumer Rights (Payment Surcharges) Regulations 2012".
Downside is that UKIP memebers are being excepted from these provisions, made under Article 19 of the EU Consumer Rights Directive. Not that they would avail themselves of such pernicious and wasteful legislation, of course, being honourable souls:)
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Debit card guarantees - R.P.
