Chargeback/Section 75

Liney123

A cycling events organiser went into receivership and a trip costing £700 was cancelled.  The trip had been paid in 4 installments all on credit card.

I contacted the Co-op bank advising this and providing evidence of receivership on the 10th of June.  They replied advising they were instead trying a chargeback first.  Since then I've had no update apart from one on 10th July after I chased where Co-op said no update from visa on status of chargeback.

How long do these matters usually take?  I've had to pay again for an alternative so am quite out of pocket now.

DullGreyGuy

Did they not refund the money at the time of doing the chargeback with the warning it will be redebited if you lose?

The merchant has 45 days from being notified to raise a dispute, you need to add some days on either side for the merchant to be notified and for the banks to review their response. Banks often dont update you if you've already been given the refund 

lisyloo

When I've done chargeback before (Amex and Halifax mastercard) the credit has come quickly (next few days) but is subject to appeal.

Liney123

Thank you for replying.  No the chargeback was never processed at all so not had any monies returned at all.

Hoenir

If the organiser is in receivership there's likely to be no funds to be reclaimed. 

lisyloo

Hoenir said:

If the organiser is in receivership there's likely to be no funds to be reclaimed. 

Chargeback is done on the retailers bank, so it's good for this scenario.
The loss will be borne by the merchants bank not the co-op or the consumer.

lisyloo

Liney123 said:

Thank you for replying.  No the chargeback was never processed at all so not had any monies returned at all.

With Halifax (just conveying my experience) they go through a process of establishing whether it's a valid chargeback.
e.g. have you asked for a refund via a valid communication channel, has it been X days since you asked?

Once I got to the stage when all the ducks were in a row they decided over the phone to process the chargeback and the credit was done very quickly.
It is then subject to a 45 appeals process so it can be reversed if the merchant argues (which they won't in your case).

Your case i.e. receivership is clear cut, but they are still entitled to check.
I've just noticed you said 10th JUNE and that seems unacceptable to me.
You could ask them once more. After that I'd be going down the formal complaints route.

born_again

Liney123 said:

A cycling events organiser went into receivership and a trip costing £700 was cancelled.  The trip had been paid in 4 installments all on credit card.

I contacted the Co-op bank advising this and providing evidence of receivership on the 10th of June.  They replied advising they were instead trying a chargeback first.  Since then I've had no update apart from one on 10th July after I chased where Co-op said no update from visa on status of chargeback.

How long do these matters usually take?  I've had to pay again for an alternative so am quite out of pocket now.

What was the date of the trip?
As in these case, unless there is solid proof they have gone bust & no chance of being taken over. The chargeback will not be done till the day after the trip was due.
It's a simple case. If done to early you could lose on a technicality. 

Usual chargeback process is one it is actioned refund is overnight, then retailer has 45 days to respond & contest. Although it can take bank longer to pick this up due to the number of chargeback actioned.

Liney123

The date of the trip was 29 July.

I must admit I think this was taking far too long and customer service from co-op not been good! (Recently changed to another bank from them too unsurprisingly!)

born_again

Liney123 said:

The date of the trip was 29 July.

I must admit I think this was taking far too long and customer service from co-op not been good! (Recently changed to another bank from them too unsurprisingly!)

It's odd as when chargeback is actioned on Visa system it automatically puts refund in place.

You have not hade the card replaced between paying for the trip & requesting the chargeback have you?

Liney123

No card hasn't been replaced it is very odd.

 I chased them after a month and received the 

"Unfortunately there is no update from visa regarding your chargeback .

In previous email from *********** we were unable to raise a chargeback until after 21.06.2024

“I can advise at this point that we will be attempting a Visa chargeback on all transactions in the first instance before we consider your Section 75 claim, again this is explained in the attached letter. However we do need to give the merchant or the administrator 15 days from the date that the event was cancelled or notification given that they have ceased trading before we can action the chargeback. This is to give them time to process a refund themselves and if after the 15 days they have not processed a refund we can process a chargeback "

I spoke to them again last month and they said there wasn't any update still.