I'm an idiot - lost money

RossGoodman

Company has gone bust (I'm assuming, no website, mails, phones) and goods not delivered.

I know what I should have done - paid the deposit on the credit card and got section 75 protection but this time I didn't.

I thought I'd be able to get a charge back through my debit card - but no.

As I paid the invoice online (using online banking) there is NO PROTECTION at all. The bank (Clydesdale) confirmed that the only thing I can do is go to the police.

I hadn't realised that using your current account and using your debit card attached to the current account are two separate things.

[Deleted User]

Is there a question here?

EarthBoy

RossGoodman wrote: »

I hadn't realised that using your current account and using your debit card attached to the current account are two separate things.

Of course they're different things, what did you expect? Standing orders, direct debits and online/mobile banking payments are all payments from your current account, but they're not the same as using your debit card. Only payments using your debit card are debit card payments.

eskbanker

RossGoodman wrote: »

I thought I'd be able to get a charge back through my debit card - but no.

As I paid the invoice online (using online banking) there is NO PROTECTION at all. The bank (Clydesdale) confirmed that the only thing I can do is go to the police.

I hadn't realised that using your current account and using your debit card attached to the current account are two separate things.

As you know, Section 75 protects (many) credit card purchases.

Chargeback is specifically a Visa/Mastercard process, which protects many credit or debit card purchases made using Visa/Mastercard-branded cards.

Direct bank transfers, as you've now been told, don't qualify for either Section 75 or chargeback, so hopefully it wasn't a massively expensive mistake.

What was/is the name of the company?

eco_warrior

OP isn't an idiot, just didn't know any better


Many people fall into the same situation

Dean000000

What were you trying to buy, from who, and how much did you spend

Terry_Towelling

Also, don't forget, people, that the debit card concept was originally 'sold' to account holders as a cheque replacement, rather than a branded product with its own set of rules and protections. There are probably still many out there who don't understand this and just as many who have no knowledge of the Chargeback processes operating to protect Visa and MasterCard branded products - debit and credit.

You only have to look at the number of people who think debit cards have no protection attached simply because they are not credit products and S75 doesn't apply.

And before anyone jumps on me by saying, 'yes, but this is nothing to do with cheques but direct transfers', I know, but I am just trying to illustrate a point related to operation of current accounts and how perceptions and knowledge vary according to how things are 'sold' or 'positioned 'to you.

RossGoodman

There was no question here - just an attempt at a cathartic release.
It was a small local company - I'm £2500 out of pocket.

Just posted this to highlight what can happen.
In my mind my current account and the debit card attached to it are the same thing - but obviously they are not.

And yes - I did know better, when I got the invoice, I had my phone in my hand but my wallet/card was in the other room convenience vrs consequences!

MDW

Jesus, sorry to hear, what was your buying, perhaps someone on here can point you to someone who could do the same for you with some substantial discount due to the circumstances

Misslayed

:Please press :spam:

chattychappy

!!! wrote: »

Is there a question here?

I didn't see one. I saw a warning to people based on the OP's own experience....