5 ms·

I would be very careful on this one. Some providers are interestingly stubborn when it comes to charge backs and can hold on to the (fraudulent) vendors side e

I would be very careful on this one. Some providers are interestingly stubborn when it comes to charge backs and can hold on to the (fraudulent) vendors side even if you're clearly right. Monzo in the UK is a prime example for that. An internet vendor charged me more than he should and refused to void the transaction (basically text-book fraud) and I filled for a charge back with monzo. I was extremely confident that it wouldn't take much however monzo customer service resisted to help. The monetary value wasn't much however in the end I perfectly understood that this "protection" does not exist on the credit card issuer/bank side of things. Be careful.

matthewmacleod 8y ago
You didn’t file for a chargeback with Monzo, because they don’t offer credit cards. There’s less protection generally with debit cards. Generally guidance is that you are entitled to a refund from the bank only if you did not authorise a particular transaction.
- kennethp 8y ago
  Does it matter? The simple reason they are there is to protect my interests. If they can't do it for a few quid, how can they do it for larger sums of money? The Moral of the Story: Money institutes may not cover you like you think they will. I've learned my lesson. Again, be -very- careful.
  - whatok 8y ago
    Debit cards in almost all cases have less protections that are clearly stated.
  - mikestew 8y ago
    Money institutes may not cover you like you think they will. Not if you didn't read your debit card agreement, no. Nothing you've stated wouldn't be clearly spelled out in the agreements I've seen for debit cards. I mean, I can see how this happens: looks like a credit card, must have the same protections as what people online say about credit cards, right? Nope.
  - oarsinsync 8y ago
    > If they can't do it for a few quid, how can they do it for larger sums of money? If I remember correctly, debit card protections don't exist below £100, so they literally can't do it for a few quid, but they can for larger sums of money. This isn't an example of Monzo being terrible, this is an example of debit cards being terrible.
- entity345 8y ago
  Chargeback also apply to debit cards. It's just that credit cards must offer chargebacks by law.
  - mattmanser 8y ago
    The laws around credit cards are much stricter, in the UK it is much safer to use your credit card online and for day to day purchases (with pay in full every month so no interest charges).
maxehmookau 8y ago
Monzo doesn't provide credit cards, only debit cards. Banks have a vested interest to work with you for purchases made on credit because it's their money. Debit purchases have no such leverage and thus have lower protections. If it costs more than £100, use a credit card in the UK as the CC company is jointly liable for any issues, even faulty goods.

matthewmacleod 8y ago

You didn’t file for a chargeback with Monzo, because they don’t offer credit cards. There’s less protection generally with debit cards. Generally guidance is that you are entitled to a refund from the bank only if you did not authorise a particular transaction.

kennethp 8y ago
Does it matter? The simple reason they are there is to protect my interests. If they can't do it for a few quid, how can they do it for larger sums of money? The Moral of the Story: Money institutes may not cover you like you think they will. I've learned my lesson. Again, be -very- careful.
- whatok 8y ago
  Debit cards in almost all cases have less protections that are clearly stated.
- mikestew 8y ago
  Money institutes may not cover you like you think they will. Not if you didn't read your debit card agreement, no. Nothing you've stated wouldn't be clearly spelled out in the agreements I've seen for debit cards. I mean, I can see how this happens: looks like a credit card, must have the same protections as what people online say about credit cards, right? Nope.
- oarsinsync 8y ago
  > If they can't do it for a few quid, how can they do it for larger sums of money? If I remember correctly, debit card protections don't exist below £100, so they literally can't do it for a few quid, but they can for larger sums of money. This isn't an example of Monzo being terrible, this is an example of debit cards being terrible.
entity345 8y ago
Chargeback also apply to debit cards. It's just that credit cards must offer chargebacks by law.
- mattmanser 8y ago
  The laws around credit cards are much stricter, in the UK it is much safer to use your credit card online and for day to day purchases (with pay in full every month so no interest charges).

maxehmookau 8y ago

Monzo doesn't provide credit cards, only debit cards. Banks have a vested interest to work with you for purchases made on credit because it's their money. Debit purchases have no such leverage and thus have lower protections. If it costs more than £100, use a credit card in the UK as the CC company is jointly liable for any issues, even faulty goods.