retailer time limit for switch paymentsto be taken from bank account

boo_star

smithja wrote: »

9.9 Responsibility for Transactions

All merchants are responsible for ensuring that the cardholder understands that
the merchant is responsible for the transaction, including the goods or services
that are the subject of the transaction, and for related customer service, dispute

resolution, and performance of the terms and conditions of the transaction.

9.14.2 Present Transactions within Three Business Days

The merchant must present records of valid transactions to its acquirer no later
than three bank business days after the date of the transaction, except

•

the record must not be presented until after the goods are shipped or the
services are performed unless, at the time of the transaction, the cardholder
agrees to a properly disclosed delayed delivery of the goods or services,

•

when the merchant receives authorization for a delayed presentment (in
which case the words “Delayed Presentment” must be noted on the TID),

•

when the merchant is obligated by law to retain the sales slip or return it
to a buyer upon timely cancellation, in which case the merchant should
present the record within 10 business days after the transaction date, and

•

when the merchant has multiple locations and uses a central facility to
accumulate and present records to the acquirer. In this case, the merchant
must present the record in accordance with applicable laws and

regulations and, in any event, within 30 days of the transaction date


One follows on from the other, so if the Merchant does not follow their Terms and Conditions the customer cannot be held liable for their error. James

AKA Authorisation, they may have to tell the bank they've taken the card within 3 working days, nothing says they have to debit it.

smithja

first of all it clearly states IT IS the merchants responsibility NOT the customers as people keep saying. it never has been the customers who enters in to a bipartie contract (it used to be tripartie, between the customer, the retailer, and the merchant aquirer) between themselves and retaliers card accepting company, it has nothing to do with the customers bank. Secondly, ALL payments MUST be sent to the bank within THREE days unless they use multiple locations then it MUST be done withn 30 days (if the retailer can show they did do this and it was the customers bank who lost the transaction, after the merchant aquirer passed it to them that is a different issue), and that is just Mastercard, Visa is either 4 or 5 days regardless of the number of locations. ejones999, is perfectly correct the original poster still owes £1000, to the retailer, and indeed they may well send in their solicitor to get it back (they will need to find them first which i dont think will be too diffcult as it involves travellers cheque which I am sure you have to give you name and address to buy, sometimes however it is not easy to find the customer and I am sure ejones will know that it is not uncommon for say Marks and Spencers to send a letter to the bank to ask them to pass it on to the customer after a guaranteed cheque is bounced on a technicallity to ask for their money back as they dont have the customers address), but it has NOTHING to do with the customers bank and they dont have to co-operate. I hate using capital letters but it appears to be the only way to get this across, if you wish to look up the details about authorisations (which have nothing to do with the time to present the the transaction to the retailers merchant aquirer), it is clearly contained with the 233 page document I have posted the link to then feel free to educate yourself on the matter. The original post may well also be a wind up, however, hopefully the next time a real one comes along on this same topic someone does not tell them again it is 6 years the bank has to debit the transaction (it has NOTHING to do with the customers bank), these are not cheques (which are regulated by very old laws that state 6 years) and they are bound by very strong legal procedures laid down by Visa and Mastercard which if the banks dont comply with them they mayl find themselves without a license to issue the cards anymore, they have revoked them in the past, the are very "brand aware" and dont tolerate these rules being broken regularly. James