Where have my funds gone?

jackerd1

Hi i have charge backed a transaction the merchant have defended the charge back and my bank have honored the charge back in favor of merchant..Now 40 days passed still merchant says that they have not received back the funds??Whereas my bank says charge back were honored.

So were dose my fund might be sitting??any idea..:beer:

Generali

jackerd1 wrote: »

Hi i have charge backed a transaction the merchant have defended the charge back and my bank have honored the charge back in favor of merchant..Now 40 days passed still merchant says that they have not received back the funds??Whereas my bank says charge back were honored.

So were dose my fund might be sitting??any idea..:beer:

Probably in a suspense account at your bank. It's an account where banks put money that they don't know what to do with but they know isn't theirs.

Either that or the merchant is an idiot.

Not your concern though. They can't make you pay twice.

planteria

so, jackerd1 get a letter from the bank which confirms that the payment has been made, to provide assurance?

have you now decided that you shall not fight the case further?

jackerd1

planteria wrote: »

so, jackerd1 get a letter from the bank which confirms that the payment has been made, to provide assurance?

have you now decided that you shall not fight the case further?

My bank says [SIZE=-1] merchant has claimed the transaction. And they told me that We had lodged an arbitration with VISA however the case was declined.
[/SIZE]
[SIZE=-1][SIZE=-1]We will be unable to reverse any amount to you and please take the issue directly with the merchant.

When i ask the merchant they says no fund received back from the bank after initial debit from their a/c at the time of charge back....After a long conversation they agree to trace the status of the fund and post me an update by Tuesday.

Basically when a charge back gets declined the money must be sent back with merchant??And What might went wrong in these case were charge back decline but merchant says fund not yet received..

May be a fault with merchant ?or Acquiring bank fault??

Any idea..:T[/SIZE][/SIZE]

planteria

"My bank says merchant has claimed the transaction."

that the merchant has had the money from the bank? if so, i would ask the bank to confirm that in writing. file it. & forget it.

agrinnall

Are you waiting for the merchant to confirm that they have the money so that they will then provide you with goods or service that you didn't really want but now you've had to pay for you may as well get anyway? If so it would be worth chasing your bank about it, at the moment it seems like the only winners in this are the bank as you don't have the money or the goods and the merchant doesn't have the money either, but the bank still has it somewhere.

eddddy

Hi jackerd1

Why are you worried about this?

As agrinnall says, is it because you want the merchant to now supply some goods?

Or is it because the merchant is threatening you with legal action for non-payment?

Or is it because you want to take further action against the merchant (e.g. through the courts)?

Or is just out of curiosity?

jackerd1

eddddy wrote: »

Hi jackerd1

Why are you worried about this?

As agrinnall says, is it because you want the merchant to now supply some goods?

Or is it because the merchant is threatening you with legal action for non-payment?

Or is it because you want to take further action against the merchant (e.g. through the courts)?

Or is just out of curiosity?

Now merchant want to refund the money .but funds find to be missing for the merchant to refund.my bank says charge back realised infavour of merchant and funds send back whereas merchant says no funds received back...

So i just wanted to know were might be the funds sitting.

jonesMUFCforever

I think OP made a transaction that he later wanted a refund for, so started a chargeback, which eventually was declined so the retailer had the funds all the time - COMPRENDE?

I got up too late to have breakfast LOL

SnowTiger

jackerd1 wrote: »

Now merchant want to refund the money .but funds find to be missing for the merchant to refund.my bank says charge back realised infavour of merchant and funds send back whereas merchant says no funds received back...

So i just wanted to know were might be the funds sitting.

Not your concern I would have thought.

The merchant won the reversal of the chargeback, therefore they need to take it up with whoever provides their merchant account.

nidO

SnowTiger wrote: »

Not your concern I would have thought.

The merchant won the reversal of the chargeback, therefore they need to take it up with whoever provides their merchant account.

I think several people are missing the point here.

The OP did a chargeback, the bank took the money back from the merchant.
The chargeback got disputed, the merchant won.
The merchant is now, separately, agreeing to directly refund the OP (per post #8), but are saying the funds charged back from them haven't yet been returned to them by the bank.

So, it is the OP's concern because obviously the merchant will not directly refund the money to the OP until the merchant actually have the charged-back money back from the bank in order to refund it.

So either:

Whatever murky circumstances have led to the merchant defending the chargeback and then agreeing to refund the money directly aren't going as well as the OP hoped, and the merchant are lying about receiving the funds to cop out of having to refund them
or
The merchant haven't currently actually got the money they've agreed to refund, so it is very much in the interests of the OP to chase the bank about getting the merchant their money, so that the merchant can then refund it to the OP.