Visa chargeback - business debit card

oz0707

What protection do I have when making a payment on visa business debit card for a purchase of goods? I am making payment Monday of around 4k to a firm who I haven't done business with before.

The firm are legitimate and a google search shows their company to be in ok shape. Just a bit anxious paying for goods from a non local firm whom I've not used before. Goods expected to arrive last week of the month. Thanks in advance.

jonesMUFCforever

In one word - none.
Business accounts are not covered by S75 . The best people to ask are the bank's card services department.

Buzby

You'll need to do your own due diligence.

If Visa, there is an element of the 'Visa Guarantee' which applies to SME's but S75 doesn't apply to debit cards - irrespective of whether a consumer or business.

Hominu

Buzby wrote: »

S75 doesn't apply to debit cards - irrespective of whether a consumer or business.

Actually, it can, but only as a side-effect, and only for consumers.

For example, if using the debit card causes an overdraft situation by causing the balance to go from positive to negative, then the transaction will be covered under section 75.

OP: Since this appears to be a business transaction, can the other company not invoice you for the goods?

grumbler

The question was about the chargeback, not s75.

I don't know the answer, but as Visa is just a payments processing system, I don't see why their rules and procedures can be different for business and personal cards.

oz0707

They have done invoice and scanned and emailed to me. Also attached is card payment reciept for Fridays depo. So after payment mon this invoice will be posted to me as paid.

Sorry to confuse with mentioning chargeback specifically. It appears this only applies below £100 anyway?

agrinnall

oz0707 wrote: »

Sorry to confuse with mentioning chargeback specifically. It appears this only applies below £100 anyway?

No it doesn't. Read the Chargeback guide.

oz0707

So to summarise - s75 not relevant, unless consumer and sends you overdrawn.
Charge back possibly relevant as can't see specific rules for being a consumer vs a business
Also Visa Guarantee possibly?

jonesMUFCforever

What visa guarantee?

If you pay cash and the goods don't appear do you have any recourse - no (in terms of your bank).

If you are really worried about this transaction don't do it - ask them for credit terms - 60/90 days to pay - otherwise walk away.

grumbler

jonesMUFCforever wrote: »

What visa guarantee?

I think it's essentially the chargeback, possibly the old name for it.