Did you know about the possibility of retroactive payments?

Posted by bara 11/07/2014 at 08h28

In certain cases, this tool can mean only one chance to get your money from a dishonest merchant back. The condition is that the consumer paid his purchase by credit card on the internet. An example might be a bankrupt of Malév Hungarian Airlines. Passengers who paid for flights of the carrier by credit card, received their money overwhelmingly back. Those who pay for the services ordered by cash or bank transfer, were not so lucky.
credit cards
 
Bank tool called Postpay or chargeback is not original bank product, it is an additional service to the cards by Visa Europe and MasterCardEurope company to have a certain advantage for cardholders against consumers paying in cash. Most often, it is used when buying on the Internet and use transport goods on delivery. if a customer does not receive what ordered cash on delivery, he is dependent on the complaint process. If the trader does not communicate, help a court. However, if the customer paid by a card, he can requests the bank for assistance and demands the return of his funds using the retroactive payments. Basically, bank of consumer asks the merchant bank for the return of amount paid. This procedure can be used in case of problems when customer is buying on the internet in domestic e-shops or retailers in other EU countries. It helps in situations where the customer did not get what he paid or he was charged more money. Among other typical claims ending by chargeback are unpaid cash at an ATM, duplicate payments at merchants and other fraudulent payments via the Internet, flight cancellation, the customer who bought the tickets by card, additional billing transactions from merchants and counterfeit cards. The retroactive payment can also ask if the trader denied the right to withdraw from the contract or cannot meet its obligations due to insolvency. Banks are not required by law to carry out this retroactive payment. If customer has a problem, he should immediatelly contact his bank at first and request that retroactive payments. The application is suitable to support by documentation (copies of communication with the trader or confirmation of the fact that a trader was in bankruptcy). Number of chargeback keeps growing, which is associated with a higher frequency of use of credit cards.

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