Having a lot of trouble with this company who i think may be going into liquidation, have paid for some laminate flooring (spent around £150) and want to know if possible to get my moeny back from the bank, havent received the floor and dont think i will do. Any ideas on what i need to do now?im with HSBC bank?
2006-08-17 03:29:52 · 9 answers · asked by princesssp8 4 in Business & Finance ➔ Other - Business & Finance
Act fast, but don't hold you breath. Like the first person adviced, run round to the bank and inform them.
Unfortunately banks have a wonderful take on credit vs debit cards...
If a company defrauds your credit card, they have to refund you and chase it up themselves, if it's a debit cards, it's come straight out of your account and they are rather straight about this - tough!
It's possible the bank will refund you, but to be honest it is very unlikely.
However, if you and lucky and the card hasn't been debited I believe you can put a stop on the transaction at the bank in a similar way that you stop a cheque. And yes, they will charge you for the priviledge, but it's cheaper than losing £150 I guess.
Banks eh... they paint themselves as paragons of virtue in the TV adverts eh, but rub away the gilt paint and you soon see the cold hard steely truth... :(
2006-08-17 03:45:32 · answer #1 · answered by Malachim 3 · 0⤊ 0⤋
Nope, that's *credit* cards, not debit cards.
If you pay with a credit card you are entering into a three way credit agreement between you, the bank and the company you're buying from. You therefore get protection in certain circumstances with a credit card, and yes, the bank could ultimately do a "charge-back" to get you your money back.
When you use a debit card, the money comes direct from your bank account and there is no such credit agreement. So, there's no protection and no chance of a "charge-back".
If it makes you feel any better, I found this out when I bought a PC for over £2200 and got ripped off!
Moral of the story? Always pay with a credit card!
2006-08-17 03:46:01 · answer #2 · answered by amancalledchuda 4 · 0⤊ 0⤋
As you paid with a debit card AND the amount was over £100 the bank is jointly held to be responsible along with the vendor.
But you know how difficult it is to get any money out of a bank
The consumers association will give guidance as will citizens advise--I oresume you are in the UK
2006-08-17 03:59:05 · answer #3 · answered by Gordon R 3 · 1⤊ 0⤋
I had the same thought as the other two people above above about only credit cards being insured. I'm failry sure if they've gone into liquidation they have to settle up with any shareholders before compensating customers. I'm not an expert but i don't think you'll get your cash back.
2006-08-17 03:42:22 · answer #4 · answered by greg m 3 · 0⤊ 0⤋
Call in and have them put in an inquiry into why the goods have not been received. Most credit cards have a $50 liability limit.
2006-08-17 03:36:39 · answer #5 · answered by Today is the Day 4 · 0⤊ 0⤋
You need to tell the bank you have paid for goods but not received them - they will investigate and should reverse the transaction for you.
2006-08-17 03:34:28 · answer #6 · answered by Stephen H 4 · 0⤊ 0⤋
I think insurance to cover you like this only comes on credit cards.
It is worth taking to your bank and finding out if you have any recourse on it though.
2006-08-17 03:35:42 · answer #7 · answered by Steve C 4 · 0⤊ 0⤋
Don't think the bank will pay it, usually it's only credit cards that are insured.
2006-08-17 03:37:34 · answer #8 · answered by Rick 3 · 0⤊ 0⤋
Make an appointment and go and speak to your bank manager face to face and you will get the right answers (they are there to help you).
2006-08-20 08:07:24 · answer #9 · answered by ralphthemouth 3 · 0⤊ 0⤋