Reclaiming money from visa debit, company bankrupt

achapman0

I was looking for some advice/help regarding air tickets I purchased with Hungarian airline Malev in early January this year.

I purchased tickets for 500 euros for a trip in November 2012 and shortly afterwards the company went bankrupt. The tickets were paid for with a Visa Debit card (not a credit card).

I made a claim through the issuer (N&P) and received the money back in the account but as fast as the money appeared it disappeared again....Visa had taken the money back.

I need someone informed to help me understand where I stand with the law regarding this.

Thanks in advance.

meer53

Contact your card issuer to find out why they redebited you.

dzug1

AFAIK there is no 'law' regarding this. Chargeback is a voluntary scheme offered by Visa and is at their discretion.

achapman0

Thanks for the replies.

N&P said they had no information on why the money was taken back and it could take a couple of weeks until they are able to give me an answer on that.

They also said that under Visa rules they can do the chargeback one more time so I said that I would wait until they could provide me with a reason before attempting a second (and final) chargeback.

Here is where it gets tricky. N&P then informed me that they had already automatically put me in the queue for a second attempt. I argued that was futile as Visa will probably just take the money back again and that would waste my final attempt on a successful chargeback.

Anyway, if the chargeback is entirely at Visa's discretion then am I just wasting energy?

System

As chargeback is a forcible reversal of the transaction then if the company is bust no chargeback can take place otherwise the bank is left with an unsecured debt against the company that rightly belongs to the consumer. Banks have no liability in the chargeback process unlike Sect 75.

jonesMUFCforever

I agreee with !!!!!! - sorry I believe that you have lost your money.

devon-gnome

I just wanted to say to anyone who is trying to get a deposit back from companies that go bankrupt; 'never give up hope'.
Today, my bank (Barclays), has finally repaid a deposit that I paid to George White Motorcycles using my Visa Debit card. I paid this at the end of November 2011 and the company folded in January 2012.
I have been given the runaround from the Administrators, Piaggio (the bike I'd paid a deposit for) and Barclays themselves.
In a long conversation to Barclays, they told me there was nothing they could do to recoup my deposit. The next day, however, I received a letter from them (a different employee) to say that they had tried one avenue and failed and were now in the process of contacting the company's bank. Obviously one desk didn't know what the other desk was doing!
I'm almost tempted to get a credit card incase this ever happens again.........

Carlusha

devon-gnome wrote: »

I just wanted to say to anyone who is trying to get a deposit back from companies that go bankrupt; 'never give up hope'.

Couldn't agree more. Thanks to MSE, please see:

https://forums.moneysavingexpert.com/discussion/3781939

Cheers!