Section 75 query - Virgin Flight tickets purchased by Virgin credit card

born_again

phillw said:

born_again said:

You do not even need S75 anyway. A chargeback will do the job if they fold. And be a lot quicker.

As long as there is money in their bank account to cover the chargeback.

Not that old chestnut again....🤦‍♀️
Any refunds from chargebacks come from the companies merchant back. How they get it back is up to them.
Otherwise NO chargeback on a failed company would work.....

Sandtree

born_again said:
Otherwise NO chargeback on a failed company would work.....

Yes it would because the merchant bank holds funds either for a period of time or with a minimum float to cover chargebacks etc however inevitably that some would run out in the event of insolvency.

Once that money is run out I must admit I don't know what happens... did ask Barclays once and they advised once the moneys gone its gone and the chargeback will fail but well aware bank staff don't always give the right answer.

born_again

Sandtree said:

born_again said:
Otherwise NO chargeback on a failed company would work.....

Yes it would because the merchant bank holds funds either for a period of time or with a minimum float to cover chargebacks etc however inevitably that some would run out in the event of insolvency.

Once that money is run out I must admit I don't know what happens... did ask Barclays once and they advised once the moneys gone its gone and the chargeback will fail but well aware bank staff don't always give the right answer.

Well in far to many years in disputes and covering many large companies going under and thousands of small one's, who are far less likely to have the funds set aside.. I've never known any rejected for lack of funds.
Just think about T Cook..