Debit Card Refund -Co-Op Bank

stclair

dalesrider wrote: »

Under PSD (payment services dirctive) co-op will have to refund it staright away, ensure no charges or if it is a acc which pays interest is corrected.

It is then upto them to monitor and redebit once the refund comes through.

It does not sound like the OP has actually disputed the transactions. It appears/comes across if they are just asking how long does it take for a POS refund which could take upto three days.

Now if they contact the bank and dispute the transactions then their may be a different outcome depending on the banks processes.

However they also mention faster payments POS would not be refunded via that service, so I'm not sure if the bank are clear on this issue.

Plus I don't think they would get an immediate refund anyway however someone may come along to correct you or advise otherwise. Does that mean I could dispute every transaction I make and get an immediate refund?

dalesrider

stclair wrote: »

Plus I don't think they would get an immediate refund anyway however someone may come along to correct you or advise otherwise. Does that mean I could dispute every transaction I make and get an immediate refund?

A duplicated payment = immediate refund under PSD. The bank then has to monitor for 15 days to see if the retailer has refunded. If not they can then c/b as a duplicated payment. Unless it is something where the customer has entered it twice (retailer site crashing and you pressing submit twice, etc)

You could try and dispute every transaction Yes.... Would not work though.
We, that deal with these soon root out the cheats. If a explination can be provided. Then no refund is provided.

Eg. Amazon Prime debits. People ring and say never authorised the payment. It is then explained exactly what it relates to (not reading what they are doing :rotfl:) And that they need to contact amazon to get a refund.

stclair

dalesrider wrote: »

A duplicated payment = immediate refund under PSD. The bank then has to monitor for 15 days to see if the retailer has refunded. If not they can then c/b as a duplicated payment. Unless it is something where the customer has entered it twice (retailer site crashing and you pressing submit twice, etc)

You could try and dispute every transaction Yes.... Would not work though.
We, that deal with these soon root out the cheats. If a explination can be provided. Then no refund is provided.

Eg. Amazon Prime debits. People ring and say never authorised the payment. It is then explained exactly what it relates to (not reading what they are doing :rotfl:) And that they need to contact amazon to get a refund.

The company has agreed to refund the funds already though.

So are you saying even though the refund is on its way back to the customers account the bank should refund the customer in meantime?

So if the OP calls the Co Op and says hello ive had a duplicate payment processed on my card. They have refunded me but I appreciate it will take a few days to reach my account, could you refund me until the payment arrives the Co Op would do that?

dalesrider

stclair wrote: »

The company has agreed to refund the funds already though.

So are you saying even though the refund is on its way back to the customers account the bank should refund the customer in meantime?

That is the way PSD words it.

Especially if it means that the bank could pass a charge for being overlimit etc.
Or a offset mortgage linked to acc.

Who is to say that the co are refunding, other than a verbal agreement....
How many times have people posted saying co said they would refund but its not showing :cool:

stclair

dalesrider wrote: »

That is the way PSD words it.

Especially if it means that the bank could pass a charge for being overlimit etc.
Or a offset mortgage linked to acc.

Who is to say that the co are refunding, other than a verbal agreement....
How many times have people posted saying co said they would refund but its not showing :cool:

In this instance we should assume the company is refunding the customer and has stuck to their word and will appear in their account within the next 3 working days.

In that case I can not see the bank refunding the customer in the meantime knowing a refund is already being processed.

dalesrider

stclair wrote: »

In this instance we should assume the company is refunding the customer and has stuck to their word and will appear in their account within the next 3 working days.

In that case I can not see the bank refunding the customer in the meantime knowing a refund is already being processed.

All I can say is we would even if we know the refund is coming.

FOS & not applying PSD is very dangerous ground.

In fact if co-op have not logged this unrecognised payment, it could land them with a 5K fine if the auditors pick it up...

stclair

dalesrider wrote: »

All I can say is we would even if we know the refund is coming.

FOS & not applying PSD is very dangerous ground.

In fact if co-op have not logged this unrecognised payment, it could land them with a 5K fine if the auditors pick it up...

When you say "we" who is we?

Personally I do not see why the bank would refund unless its being disputed.

In this case its not being disputed the OP just needs the funds quickly to get to work.

dalesrider

stclair wrote: »

When you say "we" who is we?

Personally I do not see why the bank would refund unless its being disputed.

In this case its not being disputed the OP just needs the funds quickly to get to work.

Sorry. I will not disclose who I work for obvious reasons. (Like I could end up in very hot water)

Op has already told co-op and they seem to have failed to act on his dispute. I guess he never got passed the front line monkies :rotfl:

In this case its not being disputed the OP just needs the funds quickly to get to work.

So there is no reason PSD aside that they help a customer in times of need.
Remember bank holidays and weekend WILL delay any refund.

Personally, If I was the OP. Iwould be raising a complaint. Least given that they have lost out. As they have had to find a alternative means to get to work. Which would mean them chucking a fe ££ in their direction.

stclair

dalesrider wrote: »

Sorry. I will not disclose who I work for obvious reasons. (Like I could end up in very hot water)

Op has already told co-op and they seem to have failed to act on his dispute. I guess he never got passed the front line monkies :rotfl:



So there is no reason PSD aside that they help a customer in times of need.
Remember bank holidays and weekend WILL delay any refund.

Personally, If I was the OP. Iwould be raising a complaint. Least given that they have lost out. As they have had to find a alternative means to get to work. Which would mean them chucking a fe ££ in their direction.

The OP has not disputed the transactions with the Co op though.

They have just merely inquired how long it would take for a refund to be processed.

dalesrider

stclair wrote: »

The OP has not disputed the transactions with the Co op though.

They have just merely inquired how long it would take for a refund to be processed.

Which should have resulted in questioning as to why. And then the PSD approach being put in place.
You do not need to raise a dispute. The idea is that the front line find out the issue and then get you through to the team to resolve it.

From the reply that a faster payment was being used??? Seems the OP really did get a monkey on the phone :rotfl: