Chargeback

Dilemma1951

Hi. M&S Mastercard issue. They have credited my account with the disputed amount. £14k. Covid cancelled holiday. They refuse to transfer it to my Current Account for 60 days. Agent told me on phone I can spend it on the card but not actually have it back for that length of time!! I can't close the account whilst there is a dispute in progress. Assistance out of this predicament welcome.

eskbanker

Reimbursement under chargeback is usually provisional while the merchant is given the opportunity to challenge it (typically 45 days), so it seems reasonable to me that while that process happens, a credit balance refund can't be issued or the account closed.

emmajones1976

^^^^this.

Imagine if they refunded it to you and then the merchant challenged it, you would end up with a credit card debt of £14k, in the meantime you could have put a dent in it and would be unable to pay it back on.

Wait the 60 days. Why are you in a rush to close the account? That doesnt change the timescales given to the merchant.